Sunday 8 July 2018

Getting The Night Market Into Perspective

From all reports, Wednesday night’s Night Market was a boomer. The was a huge crowd and even some complaints about difficulty moving around the market.

We talked to a number of Specialty Merchandise Traders who participated and here are some comments -
“I want 7 days like this”
“I’ve got my weeks budget already”
“Somebody opened the floodgates Wednesday night. It was hectic”.
“It was just like the good old days. The market felt alive again.”

A couple of first time traders were surprised at how small stalls (in one case, a last minute set-up with one table) managed to generate sales.

But before we get all starry-eyed about the prospect of night trading we need to look at the statistics. Yes, takings were good but with only 40 or so Specialty Traders and a crowd of possibly 40,000, that would be expected. In fact, given those figures, the sales per head were almost  certainly below what is achieved by Specialty Traders in the Day Market.

The Night Market is a great concept. It is perfect for the time, and a rare success story in today’s retail revolution. Throwing 400 or so day traders into a night market isn’t an option, at least not yet. The question probably becomes how do we expand the Night market operation so that more traders can take advantage of it?

The future QVM will probably work quite differently and a night market will almost certainly be a key component in trader incomes. The potential is tantalising for many.

By Greg Smith

Have Your Say - click here.

09/07/2018 06:31:25      Night market crowds        "You are right Greg 40 specialty traders in the night market are bound to succeed, 400 a different story. In respect of the crowds of people on both sat and sun they do not  always translate into dollars. Ask the craft market how they fared... only half of them there from the previous week. Your comments please."
Yes, trading is very much hit or miss, and crowds don't guarantee income. Craft Markets are not immune. The attempt to activate the empty areas in the Upper market is positive, but risky, just like many other retail activities around the globe. QVM will probably need to keep experimenting. Thanks for your input. - Ed.