Friday 7 August 2015

Traders Comments - 7/8/2015

Two recent comments are highlighted here -

An article about Myer and David Jones axing some of their fashion brands  and creating opportunities for the market drew this response -
05/08/2015 09:53:33 An Opportunityfor QVM "I think it may be a possibility however most of the traders in the market will be faced with the prospect that these axed brands will not want their brand presence in the market. Once upon a time, when major brands cleaned up their excess stock at reduced prices they were happy to get rid of it to anyone who could handle a particular volume. With the advent of factory outlets, and the brands itself opening outlets, that vacuum that used to exist for the Queen Victoria Market traders and others to profit from branded clearance stock has evaporated.
In my case I would jump at the chance to buy sheridan or linen house clearance stock, however even when I had a number of shops. I was still not allowed to sell excess stock at the market. If i was found to breach that rule, they would stop supplying me.
Traders need to look closer at one issue.The fact that all traditional brick and mortar shops, especially K-Mart, have become smarter with their product offering. They provide same or similar product , at cheaper everyday prices. The same reason why Coles has been successful in bridging the gap between themselves and Woolworths and of course we all know about how fast Aldi are catching up to the two majors.
What is the Queen Victoria Market point of difference?
The other point is,even if many traders had great branded specials, etc ,etc, will people come from all over to shop at the market. Have we lost loyalty from many due to reasons like expensive travel, stiff competition from shops, the lack of advertising to promote the general merchandise side of the market and of course the one that I believe is the biggest issue; the failure of past and current management, to tackle the outdated retail offer available the Queen Victoria market."

And an article about measuring market performance by the number of customers queueing at our doughnut bus drew this response -
05/08/2015 20:10:08 KPI's "Sometimes we lose sight of reality with the jargon and terminology of today's business world when the simple things are right in front of us.
We have watched the trade in the market ebb and flow over many years as have most traders and adjust our trading accordingly. Experience is the key KPI."
Karl ADK (American Doughnut Kitchen)