Thursday, 31 October 2019
Sunday, 27 October 2019
Many Traders have expressed delight at the return of the International Jehovah’s Witness Conference to Melbourne on 22nd November. The global economy has probably declined since they were last here in 2014 but the impact was so huge then, we should expect a boost. The busy day last time was the Thursday before the conference and you can read the report from 2014 here - https://www.victraders.com/2014/10/traders-claim-best-sales-day-of-year.html
A Trader said his week was made with a phone call from an international tourist hoping to find his product in Sydney but eventually flying to Melbourne because they “Just had to have it.”
These customers really stood out as they wandered the market on Sunday. Thanks for the photo Mino.
More happiness for Traders this week with an ABC Report that Plane Trees would be gradually removed from our streets.
A Trader says a $300 sale at 7:30 am one day this week has put an end to his plans for a sleep-in with the new hours.
|Lekhraj Chaudhary, winner of Strong Man Of India.|
Our Traders are a law abiding lot but if any Trader did decide to take on one of our Security Officers they should know that a new recruit to the security team is also India’s strongest man. No joke!
Our market storage boxes are big heavy, cumbersome, lumps of steel – right? Well, this rather untidy display is the result of the box blowing over in Saturday’s extreme weather. Westerly winds can be a real force.
Black Elvis has been a noted celebrity at QVM over the years and it was great to see him back on Queen St. on Sunday as he took part in a celebration for Indigenous women. In our photo he is seen speaking to a group of Italian women, and conversing in Italian of course.
Guru Pete gives us a horse tip each Saturday which is recorded on the QVM Traders Facebook page. In Pete’s absence this week, Michael Mallon gave us a tip for the Cox Plate and Te Akau Shark ran third, paying $4:00. Pete’s apprentice is doing well.
Amazon Almost Killed Target. Then, Target Did the Impossible | Inc.com
Globalization Is Ending. Here’s How to Prepare for What’s Next
Stop Pitching Your Products and Services. You Have a More Valuable Commodity to Sell | Inc.com
3 Big Reasons People Still Shop in Person (Instead of Just Buying Everything On Their Phones) | Inc.com
Top Instagram Marketing Tips for Business
Netflix Co-Founder Says Entrepreneurs Should Constantly Remind Themselves That 'Nobody Knows Anything' | Inc.com
Latest Retail News – 27/10/2019
1. Global survey identifies importance of faster shipping in retail.
2. Federal Treasurer says stimulus not on agenda for Government.
3. ANZ survey says Australians feel worse off than a year ago but confidence is on the rise.
4. BP pulls M+ rated magazines from its shelves in campaign to reduce sexual harassment.
5. Fashion icon, JAG, to focus on standalone stores.
6. Kogans exclusive brands prosper.
7. Flight Centre fined for misleading promotions.
8. Priceline sales up 2.4%
9. Nestle introduces plant based burgers to Australia.
10. JB HiFi sales up 4.7% in first quarter.
11. Harris Scarfe tops customer satisfaction ratings in discount department store category.
Melbourne’s Plane Trees have been blamed for excessive allergy reactions for locals and visitors with City Council at last deciding they should be replaced.
Known as London Plane Trees, these irritant producing trees are to be slowly replaced with other species, including Australian eucalypts. We have campaigned on Victraders for a number of years to have the trees removed from around our market as many Traders suffer from their air-born irritant fibres, particularly in Spring. Our photo was originally published with an article back in 2017 - Plane Trees Are A Real Problem.
|Plane Trees On Queen St.|
The following comments are from an ABC Report this week - University of Melbourne allergy specialist Jo Douglass said plane trees fibres could affect people who did not normally suffer from allergic reactions and hayfever.
"The particles from the plane trees are just an irritant, and the fibrous nature of them is such that it irritates people's eyes and nose," she said.
Professor Douglass said eucalyptus and other native trees would be a good choice for the city because few people were allergic to them.
A new portable printer start-up came to our attention this week, and in this world of personalising for retail, we thought this could be an opportunity that every Trader might consider.
Personalising has been a big thing since gold foil printing and diamond tip engraving were introduced decades ago. The ability to make your product that little bit special with a personalised message or logo has added value for many retailers.
More recently laser engraving has become popular and some of our Traders at QVM have installed laser machines. At least one of our Traders has a business built around personalising leather goods with stamping of names or initials.
The problem with these methods is that they generally require specialised equipment but the portable pocket sized printer featured in the article below is a general use printer that can print on a variety of surfaces including cardboard, leather, metal, plastic, fabric, wood, textured surfaces, and even skin.
It may be wise to see how the reviews come in after the product launch but this is certainly one to keep an eye on.
Here is the link - https://www.digitaltrends.com/photography/princube-indiegogo/
A report in Inside Retail this week suggests there are new influences in Christmas buying and we are suggesting that Market Traders need to be on the front foot.
One of the biggest new influences is Black Friday which has become a major buying period embraced by all major retailers. Black Friday is a sort of Christmas lead-in with lots of hype. What Black Friday does differently is concentrating buying into one frantic day. It is a major promotional period and your customers are likely to take a big interest in what is available.
The point is that, if you have a website or social media exposure, this would be a good time to ramp up your promotion by posting on Facebook and Instagram. It makes sense to be out there with the big boys when consumers are really active. You may not have the online presence of the big players but why sit back and let them have all the fun.
Black Friday in 2019 occurs on 29th November and you can start promoting your specials anytime.
Here is a link to an article in Inside Retail Australia - https://www.insideretail.com.au/news/international-retailers-rethink-black-friday-strategy-201908
Have Your Say – click here.
From grey to green: Melbourne deals with its urban heat issues
But one of the city's most ambitious and controversial projects to date is to convert the 1.5 hectare open-air car park at Queen Victoria Market into ...
Wendy Hargreaves: Melbourne's coolest ice cream shops
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How to Eat Your Way Through 24 Perfect Hours in Melbourne
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How to Eat Everything at Australia's Greatest Market
Like its grand Victorian facade, the name “Queen Victoria Market” evokes something regal. But step over the threshold and you'll be greeted by a ...
Dimitria, 35th Sister-Cities Festival builds bridges between Melbourne and Thessaloniki
Watch as Queen Street is transformed into a bustling Thessalonikian ... Takes place at the Queen Victoria Market, Queen Street, Melbourne.
Why driving to the city could get more expensive: Commuters may be slugged $10 to enter CBD ...
Melbourne drivers could see the charge during commutes through the Hoddle Grid, Docklands, Southbank and Queen Victoria Market. But those ...
Sunday, 20 October 2019
Heard Under The Sheds – 20/10/2019
A child was seen thumping his fists on an ATM in String Bean Alley saying “Give me the money”.
One of our Traders visiting Europe was surprised to find that the reported closure of shops in Poland on Sundays has in fact been overwhelmingly adopted by retailers. Apparently the opportunity for an overworked society to have a day of rest is proving popular with many. Our Trader thinks it is an interesting counter to the global push for 24/7 access for customers.
A Trader says we should change the name of our current season. Un-predictable weather and sales suggest Spring should now be called Bipolar.
A customer took a young Labrador dog into the meat hall as part of his special training as an assistance dog and said it was like taking a child to Disneyland for the first time. The sights and smells were a little overwhelming.
Another Trader noted that Chapel St. retailers are advertising about their pet friendliness on radio claiming the first and largest shopping precinct to welcome pets. Regular visitors to QVM would know we have been doing that for a long while.
A Trader asks - “If we required 36 hours notice of single day absences would that make it easier for market staff to curate our market and fill the gaps?”
Who are the people with iPads interviewing customers around the market?
Our GIF shows the Night Market seating for Hawker 88 at 4:30 before opening and then at 7:00 with a good crowd in. (Thanks for the photos Mino)
A customer asked a Trader where he bought his breakfast each morning. The Trader started to direct him to the normal food outlets when the customer stopped him and said "No, I want to know where you buy your breakfast. I reckon the experienced Traders will know where the best value food is."
Latest Retail News – 20/10/2019
1. Myer to open Harry Potter store in Melbourne.
2. Bunnings to launch Marketlink online in November.
3. Salvos, Vinnies, and Red Cross team up with store in major Sydney Shopping Centre that accepts clothing to reduce textile landfill.
4. Coles, Aldi and Woolworths pledge to end customer abuse of staff.
5. Strandbags owner invests $8m in new luggage start-up.
6. Nick Scali foot traffic and sales plummet in first quarter.
7. Reject Shop says same store sales grow.
8. Aldi opens three new stores in China.
9. David Jones opens its first standalone food store in Chapel St. South Yarra.
10. Frank Lowy gets out of Australian retail property industry.
11. Clothing retailer Hallenstein Glasson selects pre-loved clothing from around the world at its first vintage concept store in Australia.
12. Hong Kong street front rents plunge 50% due city unrest.
13. Woolworths trials 20c paper bags for forgetful shoppers.
14. Major retailers look at systems to treat food waste including machines that convert waste into fertiliser overnight.
Community vision for Melbourne's new public open space
It will complement the Queen Victoria Market and be a drawcard for the precinct through community events and activities. “Large open spaces like ...
Just thinking out loud
You might think it is cognitive reasoning that determines what people buy. But an article in Inside Retail this week suggests it is not the consumer’s conscious mind that determines what they buy, it is the part of the brain which controls emotions.
That part of the brain, called the Limbic System, works much quicker than the cognitive reasoning part and often makes a decision before we are fully aware of it.
Could that explain why consumer confidence is so important to the level of retail sales? When times are really tough, when consumer confidence is really low, when the news out there is all bad, do those conditions inhibit emotional responses, and therefore inhibit buying?
Here is a link to the full article - https://www.insideretail.com.au/news/the-limbic-system-the-cognitive-mind-and-the-user-illusion-that-misleads-201910#daily
Tuesday, 15 October 2019
Back in 2011, the most popular Victraders articles often involved interviews with Traders and this one got a lot of readership. It was an occasion when Tony Pierrakos filled in for the Editor. Michael Mallon can be a funny man and we suspect that Tony got the best out of him.
Interview With Michael Mallon - 5/6/2011
Name? - Michael
What do you do/sell at the market? - Giftware
How long have you been at the market? - 35 years.
What do you like best about the market? - Not being here.
Worst moment? - Waiting for Tony to take this photo.
Past jobs? - Bus driver.
Sporting interests? - Horse racing and rugby.
If you were CEO for a day? - I'd move my neighbour Tim Moore a few stalls away.
One thing nobody knows about you? - If I tell you everybody will know.
Favorite food? - 16 sausage mix, my own personal recipe, recipe available at a price.
Favorite drink? - Red wine.
Favorite TV show/ movie ? - Groundhog Day, and Melbourne cup carnival.
What is the best piece of advice you've ever been given? - Don't work at the market.
If you had your Sunday arvo free from the market, what would you do ? - Try find the sod that told me to work at the market.
If you were given a 2 week free holiday anywhere around the world, where would you choose to go? - Spain, I think.
Interviewed by Tony
Sunday, 13 October 2019
Money matters 1 - a customer asked the Trader if they could pay by card and they were told “Yes, as long as you spend $10.” For some reason the customer was upset when the Trader refused to accept a card for a $1 purchase. With a standard EFTPOS charge of around 30c (in this case 30%) we are on the Traders side.
Money matters 2 - a customer wanted to purchase a $13 meal on card and was told “Sorry, you must spend $20 for a card transaction.” That’s a bit rough, and here we are on the customers side. Incidentally it cost the customer $2.50 to go to the nearest ATM for cash.
A customer says he is going to buy a Tattslotto ticket after his luck in finding no queue at the American Donut Van on Queen St. around noon on Saturday. Most Traders wouldn’t regard that as good luck.
Like many Melbournians, Traders are well known for their sporting interest but kick-boxing between a Trader and a customer this week wasn’t the sort of draw-card our market needs.
Warmer weather is the time for walking in the sun, attracting tourists, showing off summer clothing, and unfortunately, pervading smells. Our first day of 20plus degrees in a while and Traders in C (or is it D Shed) placed covers over a nearby drain on Sunday in an attempt to reduce the unpleasant smell.
The recent shortage of car park vouchers on Fridays (generally none left after 7:00am) is apparently explained by the works in C and D sheds which has taken away the parking spots in the laneways. One Trader asks how many vouchers are taken by Traders with legitimate need to carry stock and how many are purely for convenience parking.
A Trader says there is one really good reason we should all work to eradicate the vacant stall syndrome. It is called “Protecting The Brand”. The Queen Victoria Market is known around the world and more famous than David Jones or Myer. Clearly we need to show our best face at all times.
A Trader in String Bean Alley reports that one of his elderly customers joked “A string bean is a string bean but a pea is a relief.” And that qualifies as our bad joke of the week.
The Melbourne Marathon has once again drawn complaints from Traders as they struggled through road barricades to get to the market on Sunday morning and wondered what impact that would have on customers.
There was some concern that climate change activists might target QVM as part of their guerrilla campaign. But, apart from a few activists located around Queen St. on Friday, they appear to have left us alone, at least for now.
And finally the tale of a stolen pair of ear-rings which a Trader thought might have been taken by a woman customer on Friday. The customer returned the next day and, you guessed it, she was wearing the stolen ear-rings. Our Trader was too amused to get upset but she did report the matter to security who we understand escorted the customer from the market.
With at least 7 or 8 large groups of school children coming through our market on Friday, one of our traders (thanks Darren) suggested we could take an idea from Disneyland and create a mystery hunt to entertain young visitors.
Apparently Disney have small Mickey Mouse figures dotted around their Disneyland complexes. Visitors are given a book to record their sightings of these figures and of course social media plays a part in the process.
The school groups that visit QVM are often given a list of tasks to perform during their visit and extending that activity to any visitor might be worthwhile. Of course we need a celebrity to focus on and who could be better than our own Guru Pete.
We decided to take on the “Hunting The Guru” concept and placed small stickers around our market. Below are close-ups of the stickers. See if you can work out where they were placed.
Answers can be found here – Hunting the Guru Locations.
Many articles about retailing come across our desk each week and here are four that we thought were worth a read.
Can You Teach Entrepreneurship? - https://www.entrepreneur.com/article/339851
Bed Bath & Beyond Respond To Competition - https://www.inc.com/bill-murphy-jr/target-walmart-ikea-were-killing-bed-bath-amp-beyond-heres-smart-surprising-announcement-bed-bath-beyond-just-made-in-response.html
Four Ways To Make Prices Seem Lower - https://www.entrepreneur.com/article/323876
Shopping Centre Vacancies In US Reach 8 Year High - https://www.foxbusiness.com/real-estate/shopping-mall-vacancies-reach-8-year-high-amid-demise-of-department-stores
Latest Retail News – 13/10/2019
1. RBA says international retailers significantly impact on Australian prices.
2. Some green shoots but retail continues to disappoint.
3. ANZ survey says latest rate cut impacted negatively on consumer confidence.
4. Coles launches 30 minute meal plans.
5. Chemist Warehouse opens first store in China.
6. Nestle introduces Starbucks coffee range for Australian homes.
7. Country Road moves into fashion rentals.
8. UBS says Coles & Woolworths experienced price inflation in September indicating positive trend.
9. Egg farmers call on retailers to increase prices.
10. Michael Hill shows strength in first quarter.
The new North Melbourne: No longer a working-class enclave, but its old spirit isn't too far away
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Coming Soon: A Dedicated Portuguese Tart Store for Thornbury
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New Order In
“At the heart of each change within the fall of an industry lies consumer demand. It’s up to businesses to interpret the changing tides of opinion and desire, and cater to them.”
― Joshua H. Davidson
― Joshua H. Davidson
Davidson's quote got us thinking about the new order and here are some examples that might lead us to change the old ways of retailing.
Your customer doesn’t want to dance to your tune, they want influence, and convenience is paramount.
Your customer doesn’t want waste – sustainability is a new driver.
Save the planet, because customers think that is important.
Customers want delivery now.
Global prices are no longer a secret.
If you don’t have a point of difference, your customers will be indifferent.
Customer Service - Don’t force but be attentive.
Your competitors now include the power companies, mobile service providers, and any organisation that has managed to absorb discretionary spending.
Retail hours are whenever your customer wants contact.
Your competitor may be anywhere in the world.
Your customer can find out almost anything.
Customers want value.
Customers don’t have to buy now.