Westfield Introduces Facebook Check-in Deals

Facebook mobile applications have a check-in facility that basically enables users to say “I am in a particular location” e.g. The Queen Victoria Market which, by the way, has over 18,000 check-ins so far.

Westfield have turned “Check-ins” into a marketing opportunity. When a user checks-in at a Westfield Shopping Centre they receive a special offer from that centre on Facebook. In the first week of their trial it is 30% of all full-priced jewellery at Angus & Coote Jewellers.

Not sure how widely available the technology is but it could have application to the QVM and General Merchandise Traders.

Free Marketing - Easy As ...................

Getting 3,500 - 5,000 Facebook impressions (pageviews) on the QVM Facebook page is easy for traders as the following shows –

Step1-Email to Andrew Cyples

Hello Andrew,
    Nautical Replicas are gearing up for Father's Day with a couple of special offers as detailed below. We would like them featured through appropriate market channels and ultimately we will incorporate them in our window display on 22nd August. Relevant photos are attached.
   

Make Dad The Captain On Father’s Day With A Free Hat

As a special promotion in the lead-up to Father’s Day, Nautical Replicas are giving a free Captain’s Hat with every $50 sale.  The hat is a traditional Captain’s Hat complete with gold braid and is our little contribution to make Dad feel that extra bit special on his special day.

In addition, Nautical Replicas are offering free shipping, anywhere in Australia, on their six most popular yacht replicas. Visit Nautical Replicas at stall K33, Friday, Saturday and Sunday or telephone 0406 222 020 and speak to Greg or Sue.

Best Regards - Greg Smith

Step2.Facebook Entry Posted By Andrew Cyples -

Step 3 - Results

Nautical Replicas Post – 5 people “Like” this; 4 people left comments; 4,124 impressions.

Like we said at the beginning – EASY!

Trader Responds To Buying Online

      We recently posted a letter from a trader who had by-passed QVM sources to buy a mobile phone accessory online. A trader has now responded to that act of treachery (our words not theirs).

 As a traditional walk-in F Shed retailer I have traditional mark-ups, as a market trader I am happy to haggle with shoppers,

I haggle with suppliers in order to get deal prices as well..

( I reserve a slight margin to give shoppers a fair go when I compete with on line portals as long as customers convey the information)
I am also happy to give a trade price to any market traders and office staff and also their friends.

Do u want the best price?

Here are some options...

show me the link on a print out I may match it,or go even lower,

we should perhaps ask the retailer for the lowest price in a discrete manner..

ps As a retailer of over 10 models of phone holders,the range starts at the $4.95, you may have got a good deal at the market just by chatting to the shopkeeper

Do some research on line, then support your fellow traders, when possible
Posted by Joe to General Merchandise Traders at 17 August 2011 23:57

     Point taken Joe. Good advice and thanks for taking the time to respond.

Market Videos

Our market has featured in many Youtube videos over the years and we'd like to post some of the ones that are more relevant to General Merchandise Traders in coming weeks starting with the famous Christmas TV commercial from 2010.

Position Vacant: Unique Product Locator.

Role: To identify unique products, groups of products, or services at the top end of the Queen Victoria Market for presentation through various media in order to excite our customers.

Duties: Liaise with General Merchandise Traders in order to identify unique products or special deals that have standout qualities.

Experience: An experienced retailer is likely to be ideal for this role although simple shop-aholics may have the necessary skills.

Goals: getting more customers for all General Merchandise Traders.

Salary: Very little (OK – None!)

Our presentation of this role is light-hearted although the role itself is very important. Over the last two weeks we have been presenting unique products to QVM management for marketing online through the QVM website, Facebook, and Twitter. Products we have selected include:

-          Bruce’s Sock/Shoes for toddlers.

-          Leo’s Tattoo Gun Belt Buckle.

-          Michaels Chocolate Chip Biscuits in nostalgic Hollywood star tins.

-          Rosalie’s double sided wrapping paper.

-          Thao’s handmade silk handbags.

-          Peter’s custom made shoes.

Each of these products has a uniqueness that deserves promotion. We believe they will stand out in consumer’s eyes as being interesting and worthy of a trip to the market. It may be because of their inherent qualities or a sensational deal. There are hundreds, if not thousands, of these products throughout the top end of the market and we simply need your help to identify them and promote them.

Your role could be as simple as identifying one product that deserves promotion. That product may even be in your own range. You may feel you have a better skill at identifying promotable products than some of trader volunteers or even the marketing professionals in the office. Either way we need your input. If you have some ideas, telephone Greg Smith on 0406 222 020, visit him at Stall K33 on Saturdays or talk to your nearest Trader Volunteer.

Retail News of the Week 12/08/2011

1.       Masters Home Improvement Stores (the joint venture between Woolworths and US based Lowes) has ramped up its competition with Bunnings by announcing that its stores will house McDonald’s restaurants. The first Masters store will open in Braybrook in September.

2.       JB HiFi announce a record profit (up 13.3%) with a slight dip in same store sales but remain one of the current standouts in retail store performance.

3.       Toy giant Mattel has been ordered to pay rival US$300 million in Bratz copy case.

4.       Westfield Shopping Centre Group has announced a dividend to shareholders in line with expectations. Retailers may be struggling, but their landlords appear to be going OK. Surprise, surprise!

5.       83% of retailers expect that consumers will spend less as a result of the carbon tax.

6.       Domino’s Pizza Stores have announced a 20% lift in profit for the year as they continue to roll out stores.

7.       Harvey Norman has killed off the Clive Peeters brand saying it is too damaged. Stores will be re-badged as Harvey Norman or shut down.

8.       David Jones has announced a 10.3% slump in sales for the May/July quarter.

9.       Webjet announce a record profit as our multi-speed economy shows Australians consumers are still prepared to spend on travel.

Who Are You?

It might sound like a stupid question but online marketing has made it crucially important that your market business has a relevant trading name. You would be amazed at how many traders have not thought about how they identify themselves to their customers. Selling yourself to your customer while they are in your stall is easy. What about when they read about you in a tourist publication or online. Does your name give them a vision of what you sell?

Gone are the days when we simply relied on customers passing our stall for our business. More and more customers are pre-shopping – checking out online before they venture out. They’ll check out the QVM website, check posts on Facebook and Twitter, and search Google. Just as every high street shop has a distinctive name, we need a name that helps customers identify us. We may not have signs out the front of our stalls but most of us have business cards and many of us are now featured on the QVM website and receiving promotion over the social networks of Facebook and Twitter. If your business name is distinctive and relevant to your product range it will make it a lot easier for your customer to connect.

If you don’t have a business name, or your name is not descriptive, please think about correcting the situation. Some tips on how to go about it are in this post - http://www.victraders.com/2011/06/tips-for-better-business-who-are-you.html

What is the bottom line? If you have a relevant and distinctive business name, your customer’s will find it a lot easier to remember you and find you, not just at the market, but on all the new networks that customers use to do their shopping.

Test For New Traders

A wag is a mischievous person and we have a few of those in our trader ranks. One such wag has suggested a test for new traders to the market. Now, let us make it clear that we don’t wish to pick on any trader or group of traders. We are here to support all. However there are some things that traders should be ashamed of and, in this case, we think the following multi choice questions could equally apply to some long term traders.

                                                                                                                                                             

Select The Correct Answer To The Following Questions:-

A customer is....

     A. Someone to ignore.

     B. An interruption to my phone gaming.

     C. A potential goldmine.

Merchandising is .....

     A. Something somebody else does.

     B. An interruption to my phone gaming.

     C. A way of increasing sales.

I need an EFTPOS machine because...

     A. It's a last resort if my customer doesn't have cash.

     B. It has bright lights and buttons and might play games.

     C. I believe extra customer convenience leads to extra sales.

Like we said – a few wags in our trader ranks – but for all those traders who spend more time playing games on their phones than improving their business - the message has merit.

Sorting The Wheat From The Chaff

Read an interesting article this week that basically had two simple points to make.

Firstly, the US financial rating downgrade needs to be put into perspective. The US has been downgraded from very very very very safe to very very very safe. The dramatic drop on financial markets has been followed by a bounce back that suggests things probably aren't as bad as first thought.

Secondly, at least one good result from a financial shuffle-up is that it sorts the wheat from the chaff. The weak tend to fall aside and the strong survive. Many retailers will not survive these tough times but those that do will be stronger going forward. We are putting our money on QVM traders being in the survival group. We have the flexibility to adjust to change and despite our protests about rent levels we are better off than retailers in most other areas.

We have put a simplified view to two very complicated issues but sometimes it pays to take a look from a different direction.

Amazing Customer Service Stories

Zappos are a US based online retailer of shoes renowned for their customer service.

Who would buy shoes online? Well, Zappos is heading for $1 billion sales this year so they obviously meet the needs of their customers and one key ingredient is customer service including things like free delivery and free returns - if you don't like the shoes, you box them up and send them back to Zappos for no charge.

But it is one particular aspect of their training program that has our attention. Prospective employees go through a 4 week training session (paid) at the end of which they are offered $1000 to resign. That’s right, they get paid to resign. The philosophy is this - if you would prefer $1000 to working for them, you don’t have what it takes.

I’m still trying to get my head around this – and leaving a little note to my boss that it is still not too late to make the same offer to me.

I Cannot Believe...........!!

-          QVM employees do not pay to park in our carpark.

-          Uggh boots, the cousin of moccasins, are considered high fashion.

-          When I take a day’s leave over my entitlement, I don't get a refund if somebody else occupies my stall.

-          How many customers ask "Are you always here?"

-          How many Queensland tourists arrive at the market in shorts in the middle of winter.

-          If I go a few inches over the line I’m clogging up the aisles yet my neighbour can hang clothes from floor to ceiling in the aisles and not receive a reprimand.

Any more? - Comment below or send us an email. generalmerchandisetraders@iinet.net.au

Market Interview - Betty

Name? - Betty

What do you do/sell at the market? - Hard Yakka workwear.

How long have you been at the market? - 48 years but my family involvement goes back over 100 years. My Grandfather used to trade down on Queen St. with a monkey on his shoulder selling ice-cream.

What do you like best about the market? - I look forward to coming in every morning and meeting different people.

Worst moment? - having to move back behind the white line.

Past jobs? – At one stage we were doing the market, running a nursery, working night shift at Nabisco and running a caravan park at Seaford.

Sporting interests? – None – unless you call Bold & Beautiful a sport.

If you were CEO for a day? - I'd cover in open areas for customer comfort and I'd get rid of stall duplication.

One thing nobody knows about you? - My age - and I'm not telling you.

Favorite food? - Chinese

Favorite drink? -Tea

Favorite TV show and movie ? – Bold & Beautiful

What is the best piece of advice you've ever been given? - Don't get married.

If you had your Sunday arvo free from the market, what would you do? - Potter around at home, feed the animals, just relax.

If you were given a 2 week free holiday anywhere around the world, where would you choose to go? – Queensland. I've been overseas but I wouldn't go again. Nobody spoke bloody English.

Anything else you'd like to say about life at the market? – We need to bring back those buses full of customers.

Thanks Betty

Interviewer’s Note: Betty asked not to be photographed which is OK because I can’t imagine too many traders who don’t know her on sight. My only regret is that we don’t have a few more pages to spare on this blog. Betty’s story is fascinating.

Trader's New Marketing Trial

The QVM has agreed to trial a modified form of social network marketing. The QVM already promotes seasonal specials (winter, spring, summer etc.) on Facebook, Twitter, and their website but we asked for a variation that was closer to a “daily deals” type promotion with a shorter term focus.

Facebook/Twitter are ideal for short, sharp messages that will usually last a week or so because inevitably they scroll off the bottom of the reader’s computer screen. We wanted to avoid a pure price or bargain focus and incorporate products that stand alone as interesting or unique to the QVM. In other words the product or offer has to go beyond the bland 10% off all purchases.

We started the ball rolling last week with Classico Shoes unique offer to custom make shoes.

This was followed up a day later with a special offer from Caricaturist Ivano and then an offer from Nautical Replicas. This weekend we have posts on Lee's Mobile Accessories and Thao's Silk Fashion. If you have a Facebook account we suggest you log on to the QVM Facebook page and view the posts. You might notice that the Classico post has 19 “likes” or ticks which was a good response for a Facebook page that has only 3,800 friends.

Whilst 19 “likes” is encouraging, the bottom line is that the effort put into this type of promotion must reflect at the cash register to be worthwhile. At this early stage, a number of your Trader Volunteers have been the subject of posts which will enable us to accurately gauge customer reaction. We have incorporated a couple of checks and balances into the process and hope to give you some feedback on its success or otherwise over the next couple of weeks. Hopefully this will be a prelude to a comprehensive marketing program that enhances the QVM and its traders.

Remember, you can always submit products and specials direct to Andrew Cyples at the office - info@qvm.com

Trader's Letter: I Just Bought Online

I just bought a one of those flexible arm thingys that holds my mobile phone while I’m driving.

I could have bought from Joe at the mobile phone shop in F shed for about $20 but I ended up buying one on ebay from an Australian supplier out of Sydney for $10.80 with free postage. Now before you complain that I’m being anti-market, I must stress that this was a sudden decision made late one night while I had the laptop on my knee and the TV was even more boring than normal.

It got me thinking. The ebay supplier probably sells a restricted range of goods from a remote warehouse and buys his flexible arm thingys in bulk direct from a Chinese manufacturer. No wholesaler to contend with, low rents, and low Australia Post rates for delivery. On the other hand many market traders stock hundreds or even thousands of products which they source from wholesalers. It would be extremely difficult to directly import all those products and be competitive with the one-product cowboys.

On ebay I got convenience and a cheap price. From Joe I get product knowledge and customer service. In this case the convenience won out. What’s my point? I'm not sure. This online thing has happened too quickly and I'm not sure what impact it is having on my business. All I know is that my customers are not buying enough off me at present and I would be very grateful for a clear path forward.

A. Trader

COMMENTS: From Rosalie - Yes u r rite the convenience factor!! If u had received the wrong thing that was not what u wanted,would u have complained for $10??or gone to F shed or Lee in J shed for the rite product? I'm disappointed,My issue here why r u not looking after your fellow trader?

Productivity Commission - Boring Name, Important Function

The Productivity Commission was set up to review the retail industry following complaints by big retailers (Harvey Norman etc.) about the unfairness of  the GST threshold. Retailer said GST free overseas purchases were a significant reason for Australia’s retail industry decline but the government decided to review all aspects of retailing in the process. Before your eyes glaze over, we urge you to read on. This is important and we will try and keep it simple.

The commission’s  initial report has come out this week and they have agreed there are significant restrictions on Australian retailing but the GST threshold is not one of those. Instead, the Productivity Commission says planning, zoning and trading hours laws are the main culprit because they restrict competitiveness in retailing. Basically they are saying that rather than protect Australian retailers with more taxes they should remove the restrictions that prevent us from competing with overseas suppliers.

The restrictions they are talking about include planning and zoning laws at all levels of government plus restrictive work practices (in things like hours of work  and multi-tasking) that make it difficult for Australian retailers to adjust to changing consumer preferences.

This is a draft report and there is a lot of discussion in front of us over coming weeks and months. To get the ball rolling let’s quote Assistant Treasurer Bill Shorten today who said retailers have been “put on notice” over high prices and need to become more innovative amid growing online competition. Basically they must embrace new technologies and accept that online shopping is here to stay. Opposition Treasury Spokesperson, Joe Hockey, said today that shops should be allowed to trade whenever they want. “If they want to open at three o'clock in the morning and they think they can make a buck, then that's fine.”

What can we say? We are in for some interesting times.

The Retail Week In Brief - 4th August 2011

1.    Country Road reports a 10.9% drop in comparable store sales.

2.    Premier Retail (Just Group) have announced a raft of changes in response to the retail downturn. They include closure of some 50 under-performing stores, roll-outs in performing brands, improved online presence.

3.    Homewares Chains Merge – Your Habitat and General Trader have announced plans to merge their 26 stores with centralised management and buying in Melbourne.

4.    An online website has been launched that allows customers to exchange, buy or sell shopping vouchers. As retailers look to attract online customers and measure the response, vouchers have become very popular marketing tools.

5.    Premier Retail – Just Jeans, Jay Jays, Portmans, Peter Alexander, Jacqui E, Dotti – report extreme difficulty moving winter fashion before the traditional end of August cut off when winter won’t sell no matter what the discount.

6.    The Federal Government claims the carbon tax will be good for retailers as consumers find more money in their pockets from government subsidy measures.

7.    An American Express survey release this week revealed that Australian consumers complain about customer service more than any other country except France.

8.    David Jones have added 60 new brands to their lineup as they battle with consumer’s non-spending.

9.    For the ninth straight month Coles have beaten Woolworths in the supermarket wars.

10. Adventurewear retailer, Kathmandu, has bucked the trend and reported a 23.6% lift in sales for the year to 31^st July.

11. Myer will introduce free shipping to its online offering from this week.

12. The Reserve Bank decided to leave interest rates unchanged in its decision this week.

13. Brown Sugar appoints administrators after falling victim to poor retail trading conditions.

Jewellery Giant's Fall From Grace.

Pandora, the Denmark based jewellery giant, has reported a disastrous drop in sales.

After rolling out its own stores across the US, UK, Asia, and Australia over recent years the chain has reported a 30% drop in sales with a 15% drop in Australia. Company executives have reportedly confessed that price increases combined with some destocking are significant contributors to their slowdown in sales. They also blamed marketing execution.

Pandora have been severely criticised in the retailing industry for moving from their wholesaler base to competing directly with retailers in a huge store rollout of their own.

"Tryvertising" - The New Buzz In India

This concept aims to assist consumers make up their mind about products by offering free samples online.

Samples are issued on a first come, first served basis, and consumers are invited to provide feedback such as a product review.

The idea is that it stimulates product interest and the concept has been so successful that there is talk of opening a physical store offering  free samples.

Good News, Bad News, Good News, Bad News, Good...........

On Consumer Spending:

                The Bad News – Australian consumers are saving at record levels with a consequent reduction in retail spending which has created the worst retail drought in decades.

                The Good News – The Reserve Bank of Australia says historic trends in consumer behaviour tell us that the retail drought is not sustainable. Consumers will bounce back in typical cyclical fashion as soon as they feel more comfortable with economic conditions. The Australian economy, led by significantly improved Balance of Payments figures, is doing its part. The rest of the world?....not yet!

On The US Economy:

                The Good News – Congress has reached agreement on lifting the US Debt by $2.4 trillion to enable ongoing economic strategies.

                The Bad News – The agreement was reached in such a messy manner that little confidence can be attached to it. To get this into perspective, it should be noted that Australia’s debt is roughly 25% of Gross Domestic Profit and falling. The US debt is 95% of GDP and rising. No wonder US politicians are questioning how often they should go to the cookie jar.

On The Queen Victoria Market:

                The Bad News – General Merchandise Traders (the top end of the market) have suffered from marketing neglect over recent years.

                The Good News – Marketing Assistant, Andrew Cyples, is working diligently to correct the neglect with a variety of measures including the current push on online marketing. You are encouraged to submit your product specials to Andrew by emailing - info@qvm.com.au

Celebrating Our Readership

From humble beginnings in March 2011 the readership of this blog has risen steadily as our graph shows. A big thank you to all our readers and contributors over the last 4.5 months.

We hope your willingness to log on each week is a sign that we are producing the sorts of posts that you want to read.
Our most popular post each week is our market interview and trader Leo currently holds the record for the most reads for his interview on 12th June.

The recent article on the market's security announcements sending the wrong message has the record for the most likes and shows that traders have pride in their market and don't like to see it denigrated in any way. 

Our aim on this website is to inform, educate and entertain. We hope we are succeeding in those respects and as always we welcome your views and observations.

Thank you for your support.