It is said that innovation is the key to growth and finding new sales opportunities is very important in a tough retail environment.
One of our senior traders, John Magno, has pointed out that next Sundays BBQ Festival was a sales opportunity for Specialty (General Merchandise) that has been missed and our CEO agrees.
Sunday's festival in Queen St. will trade to 10pm, beyond the normal closing time for food festivals. In hindsight, the extended trading was an opportunity for other traders to join in the event, enhance its footprint, and provide welcome sales opportunities for all involved. It is not clear exactly how interested traders could be infused into a food festival on a normal trading day and this aspect will require examination.
Jan Cochrane-Harry has proposed that the matter be formally raised at the next QVMAC meeting so that a guiding policy can be formulated. Creating a link between new initiatives and the wider possibilities for business will be a very positive step for QVM's trading growth. It all comes down to an entrepreneurial mindset by all participants in our market.