A Special Argument For Name Change In The Top End

Trading areas at the Queen Victoria Market are generally categorised as Food or General Merchandise. Food is food, and I don't have a problem with the term (I assume Food Traders feel the same) but General Merchandise is just too general and doesn't adequately convey the rich offering in the top end of the market.

In fact, trade in the top end is the opposite of "general", it is "speciality". General Merchandise Traders are Speciality Merchandise Traders because each trader specialises in a particular category and gives it a richness, depth, and level of expertise that most other retailers can't. The depth of offer in categories like jewellery, sports shoes, socks, handbags, hats, souvenirs (and the list goes on) is rarely exceeded outside the market.

Wikipedia describes Speciality Shops as follows - Specialty (BE: speciality) stores are small stores which specialize in a specific range of merchandise and related items. Most stores have an extensive depth of stock in the item that they specialize in and provide high levels of service and expertise. The pricing policy is generally in the medium to high range, depending on factors like the type and exclusivity of merchandise and ownership, that is, whether they are owner operated or a chain operation which has the advantage of bulk purchasing and centralized warehousing system. They differ from department stores and supermarkets which carry a wide range of merchandise.[1

The other important aspect of the "Speciality" tag is of course the high level of personal service and expertise that the name implies. In contrast with today's impersonal department stores, QVM Traders offer a face to face experience to each and every customer and that is an advantage we should maximise. Add in the level of competition offered by multiple traders in each category (some see this as repetition, I see it as healthy competition) and it is no wonder that QVM is a very desirable place to shop.

I would like to see QVM described as a place for Food and Speciality Merchandise.

HaveYour Say – click here.

New QVM Food Activity In Queen St.

Traders will have noticed the new food festival in Queen St. this Sunday and we can reveal that this was just the first of 10 Sundays for the festival . QVM distributed an email announcement on 5^th April as follows -

A Taste of the Market

The latest street food festival to hit Queen Victoria Market!

Taking over the Queen St precinct for 10 Sundays only, A Taste of the Market will feature some of your favourite traders from Suzuki Night Market and Luna1878, serving up local and international fare from Sicilian BBQ to Malaysian Dumplings. Kicking off this Sunday 7th April with free entry & entertainment, Sundays just got even more exciting at Queen Victoria Market!

A Taste of the Market will be held on the following Sundays:

April: 7 & 21
May: 5, 12, 19 & 26
June: 2, 16,  23 & 30
9am - 4pm

Where: Queen Street
Cost: FREE

Creating a buzz in Queen St. is to be applauded although Food Court retailers may not be so excited as they face even more competition.

Have Your Say - click here

COMMENTS:
11/04/2013 19:41:48 queen street "Creating excitement in queen St is one thing. .. but competition for us existing trader's id another.   Sure its good to have something in queen St,  what about kids rides & making it a family day.   I don't understand why the office insists on always cutting us off, don't they get by putting these events on, it stops the shopper from moving around in the sheds..instead of applauding this why don't you represtatives actually do something about it ..."

Top Sporting Events

Tourists are very important to trade at the Queen Victoria Market and sporting events are key tourist magnets for Melbourne.

The boost to consumer spending from sporting codes is huge and here is an assessment of their comparative sales generation –

1.       AFL - $425 million.

2.       NRL – $135.5 million.

3.       Rugby Union - $70.1 million.

4.       Cricket Australia - $205.6 million.

5.       Tennis Australia - $185.7 million.

6.       A-League - $95.2 million.

Top Ten Australian Online Retailers In 2013

The last year has seen a huge digital uptake by Australian retailers. There are a number of pure online retailers like Kogan and Shoes of Prey, but traditional bricks’n’mortar retailers are becoming key participants. Here is the top 10. 

1. Kogan – a successful $250 million business. 

2. Milan Direct – online furniture and the other half of Ruslan Kogan’s empire.

3. Catch of the Day – a $350 million business with James Packer as a contributor.

4. Booktopia – expected to turnover $28 million in 2012-13.

5. JB Hi-Fi – one of the traditional retailers making a successful effort online.

6. Officeworks – businesses are big online users and Officeworks benefits.

7. Specialty Fashion – the company operating Millers, Katies and Crossroads.

8. Big W – one of Australia’s biggies.

9. Brands Exclusive – a successful private shopping club.

10. The Iconic – a high profile online fashion retailer.

Do You Own A Smartphone - And Do You Use It?

Time for some key statistics -

-       Google’s +1 button is used 5 million times a day. Source: Huffington Post

-       There are 2.7 billion “likes” per day on Facebook. Source: Digital Trends

-       The Ford Explorer Launch of Facebook generated more traffic than a super bowl ad. Source: SMBPlans

The statistics for digital communication are mind-boggling and focussing on smart phone usage in Australia is equally impressive.

-       In June 2011 roughly 25% of the Australian population had a smart phone. By June 2012 that figure was 49% and now it will be considerably more.

-       78% of smart phone users check their email on their phone. Source: Business Insider.

-       94% of Australian smart phone users have used their phones to research a product or service. Source: Google Blog

-       63% of Australian smart phone users have performed a search after seeing an offline ad. Source: Google Blog

And the use of social media is becoming a very significant marketing tool.

-       Tourism Australia's Facebook page is the largest Facebook page in Australia and the most popular tourism destination page on the planet. Source: European Travel Commission.

QVM customers are using smart phones to shop. For QVM Traders, using a mobile device (smart phone or tablet) to post on social media and communicate with your customers via mobile telephone and email just makes good business sense. In fact, if you want to be competitive, it is essential business practice.

Have Your Say - click here

Important Update For QVM Website

The QVM website is being revamped and traders who have information on the website may need to update their entries.

The new QVM website will offer a new look and new methods of customer engagement as the market keeps up with customer trends to seek information online. If you have an entry on the QVM website, now is the time to review the content about your business and make sure it is accurate and appealing.

                                

Web pages need to be regularly updated in the same way as we regularly change our stall content with new lines and new merchandising techniques. A quick look at the Trader entries on the QVM website will show that some traders don’t have adequate information (for instance no product photos) and haven’t updated their details for some time.

Does your entry contain the following features?

1.       Business name.

2.       Clear product and range description.

3.       Quality product photos.

4.       Multiple contact options

a.       Mobile number.

b.      Email address.

c.       Website address.

d.      Facebook or Twitter links.

5.       Clear location details.

6.       Payment options.

7.       Special services – delivery, packaging etc.

Send your new details to info@qvm.com.au

Trader's Comments

02/04/2013 18:04:09 Trading Times "I find it funny that traders are complaining that business is quiet, and that we have no people in the market, but these same people are the ones who will drag there boxes into the aisles before closing times, even if the aisles are full of people.

A prime example was Easter Thursday. Advertised closing time, ""UNTIL SOLD OUT"", but the majority of the market started to pack at 2:00pm, if not earlier, despite the fact there was more people walking around the market at 2:00pm, than for the previous 3 hours. Boxes and cars were moving around the market prior to 2:00pm, but as soon as it was 2:00pm, it was like we were closed.

These actions, impact on all traders, and the customers, quickly leave, with a very poor impression of the market. 

We need to start working together, not against each other. If we keep working against each other, we have no chance of improving customer numbers."

02/04/2013 17:59:10    Queen Street Toilets     "I would just like to bring this to the attention of everyone. Over the past 3 months l have been noticing that the Queen Street Toilet Block, is closing well before the advertised closing time. On Sunday March 31st, these toilets were closed at 5:15pm, despite the advertised time being 6:00pm. This has been a regular occurrence on both Saturday's and Sunday's. This is not a good thing. The market can not even operate things to the advertised times, but they are quick to tell us we are not operating within the times of the market, if we are not fully packed up 2 hours after closing. Nice double standards for the office. If you have found this same issue, perhaps, we should all start to put this in the complaints book at the office. I know l will be, writing a formal complaint, about the early closing times, as I am a trader that takes almost the full 2 hours allocated to pack up my stall, and would like the option of a bathroom break before I travel home. "

Have Your Say - click here

Chapel St To Get Makeover

Stonnington Council has started compiling a Masterplan for this this iconic shopping strip in Prahran.

Residents, shoppers and retailers will be asked to contribute their thoughts on how a rejuvenated Chapel St should look. Options include new street furniture and lighting, open community spaces, green zones, and multi directional pedestrian crossings. Extra bike racks, street art, and relaxation areas have already been suggested by a retailers representative.

The Stonnington Mayor stressed that the council was looking to reinvigorate the precinct not reinvent it. Changes would be made with an eye to retaining the essential character of this popular shopping destination.

Latest Retail News – 31/3/2013

Latest Retail News – 31/3/2013 
1. Coles has purchased one of Woolworths key supermarket stores at Neutral Bay in Sydney. 
2. Victorian Government considering a Retail Lease Register to assist retailers in lease negotiations. 
3. David Jones ambassador, Miranda Kerr, to leave department store. 
4. Asos continues to dominate online fashion with 34% sales increase in first half. 
5. Kathmandu reports 72% first half profit rise on back of 9 more stores and 50% higher online sales. 
6. Adelaide’s new Rundle Place development opens this week. 
7. Westfield sells stake in 6 Florida shopping malls. 
8. US Senate votes to introduce controversial new sales tax laws for online retailers. 
9. Toy distributor, Funtastic, reports 68% jump in first half profit. 
10. US apparel retailer Abercrombie & Fitch confirms plans to open its Hollister branded stores in Australia. 
11. Mirvac’s Broadway Shopping Centre in central Sydney tops $ return per square metre for Australian shopping centres. 
12. Williams-Sonoma, Pottery Barn, Pottery Barn Kids, and West Elm will open first Australian stores on May 2, 2013 at Sydney's Bondi Junction. 
13. Iconic clothing and footwear retailer, R.M.Williams up for sale. 
14. Woolworths to launch first full service beauty bar at its Sydney Town Hall supermarket.

Reviewing The General Merchandise Tag

Thank you to those traders who contributed to our suggestion that we review the General Merchandise name and perhaps look for something more descriptive for today’s consumers.

We would like to keep the ball rolling on this issue and it may help to put some of the terms into normal sentences and see how it sounds. Here is a common phrase found on internet sites like Trip Advisor -

“We visited the General Merchandise section.”

What if we changed that to -

“We visited the Merchandise Bazaar.”

“We visited the Top End Traders.”

“We visited the Living Essentials section.”

"We visited the............................................?"

Please keep your ideas coming in. And to the trader who said leave "General Merchandise" alone - we heard you, but let's see what comes out of this process before we consider a vote. 

Have Your Say - click here

Restricting Car Use A Danger To Shopping Strips

Restricting the use of cars so as to reduce congestion, and keep down green house gases has the potential to harm strip shopping centres according to the Transportation Research Journal.

Shopping strips are already at the mercy of bigger centres with their one stop shopping, extended trading hours, multiple carpark spaces, and location convenience. The strips on the other hand are located on major public roads and have parking areas controlled by money hungry local councils. Bigger centres have, on average, 3 times the number of parking spaces at strips although it is easier to park closer to your destination store at  a strip.

Commentators say that attempts to shifts shoppers to public transport doesn't allow for the purchase of bulk goods or shopping with multiple parcels. Melbourne City Council's apparent opposition to cars in city precincts is a significant issue for the Queen Victoria Market as we compete with major shopping centres. 

Have Your Say - click here

How To Negotiate A Lease

The ARA is conducting a workshop on how to successfully negotiate a retail lease. Attendees will learn more about the Retail Leases Act 2003 and their rights and responsibilities as well as the fundamentals on how to research and evaluate retail lease terms. 

The Victorian Small Business Commissioner, Geoff Browne will be in attendance at each workshop and will explain in further detail how his office can assist Victorian retailers.

The workshop costs $50 and will be held at Melbourne Town Hall on Tuesday 9th April 8:30am to 12:30pm. For details call the ARA on 1300 368 041 or email events@retail.org.au

Walmart Shows Off Customer Technology

Walmart's huge store network requires very sophisticated back room technology and it has helped make them the largest and arguably most successful retailer in the world.

But the latest innovation from Walmart is directed at in-store convenience for their customers and it involves the ubiquitous iPhone. Their new iPhone self checkout option is being tested in 14 markets and allows customers to scan products on their phone as they place them in their cart, and then totals up for the checkout. The customer pays and goes.

Walmart has strong online competition from the likes of Amazon, but when the world’s biggest retailer takes on technology innovation, everybody needs to watch out. Combining the best of technology with a satisfying in-store experience is one way Walmart stays on top.

Disquiet At Dandenong Market

Dandenong Market Traders are fed up with lack of business and are demanding rent reductions from the market operators.

Dandenong has undergone a re-development in recent years with trader's rents going up as a result. At a recent meeting 85 of the 110 general merchandise traders signed a petition asking for a 50% rent reduction backdated to July. Traders claim that Dandenong Market rents are the highest in Melbourne and are unsustainable.

The market board say they are investigating reasons for the downturn and how their rents compare with other Melbourne markets.

Store Charges $5 To Browse

A specialty Brisbane grocery store has put up a poster warning customers that they will be charged $5 for browsing without buying.

Before traders go rushing off to their printers we should point out that this store is a specialty gluten free food supplier for celiac sufferers and is more likely to get inundated with questions from customers seeking specialty advice. The owner of the store said she was sick of giving advice to customers who left empty handed. It would seem that she is a victim of the trend for customers to research their purchase online and in-store before heading for the cheapest source, in this case, probably a supermarket.

Charging for browsing is wrong on so many levels but it does illustrate the frustration that many retailers experience. We give final word to the ARA Executive Director, Russell Zimmerman, who says to be competitive, smaller stores should emphasise what they offer that other stores don't and focus on providing great customer service. By putting up a confronting sign "You are missing the opportunity for the browsing customer to actually buy from you."

Should We Change The General Merchandise Name?

Does the name General Merchandise inspire you? Or is it a rather vague description that is unworthy of our long and illustrious service to Melbourne (and the world’s) shoppers?

“General Merchandise” doesn’t really describe what we do in the top end of QVM and yet we use it regularly on this site. It is used in general communication around the market and, we even use it when trying to promote to our customers in newspaper advertisements, the Marketlife magazine and other forms of marketing.

Here is a great opportunity to get creative and come up with a name that is more descriptive. Please click on the link below and have your say. And no, we won’t accept “Other Stuff”. Let’s treat this as a serious issue. Who knows? Your name idea may be the start of a whole new marketing direction for traders in the top end.

Have Your Say – click here.

COMMENTS:

 21/3/2013: 2150 - Name Change - "What about Living Essentials?" Ed
24/3/2013: 1645 - Name Change - "A Bazaar is a shop or market selling miscellaneous goods. Can that be woven in?"

25/03/2013 00:57:52 "I like living essentials, but maybe change essentials for a different word as customers may subconsciously then think of things that are only essential to them and not just buying something because they want it." Leah
25/03/2013 11:24:32 General Traders "Suggested Name   Top End Traders" JR E Shed

Latest Retail News – 24/3/2013

Latest Retail News – 24/3/2013 
1. Payless Shoes purchased by its US namesake, Payless Shoesource. 
2. Online luxury retailer, Net-A-Porter, launches Hong Kong website and distribution centre to service Asia-Pacific region. 
3. Visa now requires retailers to limit credit card surcharges to as little as 1c. 
4. The world’s largest duty-free shopping mall to open in Hainan, China. 
5. David Jones report 14% fall in first half profit due lower sales and higher spending. 
6. Brisbane’s Queen St. mall to get $70m retail redevelopment. 
7. Woolworths joins USA’s Walmart and UK’s Tesco as the most valuable domestic retail brand. 
8. Webjet takes over Asian focussed travel website Zuji. 
9. Swedish fashion giant H&M announces it will open its first Australian store in 2014. 
10. Premier Investments (Just Jeans, Portmans etc.) announce 21% profit lift for first half. 
11. US based outdoor clothing retailer, Timberland, opens first Australian store in Chapel St.

Lord Mayor’s Small Business Commendations 2013

Applications for the Melbourne Lord Mayor’s Commendations are now open. Applications may be made by small businesses (less than 20 fulltime employees) that have operated continuously for at least 10 years in the city of Melbourne.

Many QVM Traders have received commendations in recent years including John Magno, Kevin & Annette Stanisich (Platinum Award for Generational contribution) and Wayne Chitty. The awards involve a presentation evening at Melbourne Town Hall, an opportunity to meet with other recipients from across Melbourne’s retail community, and are a worthwhile memento of the contribution made by small business.

Full details and application forms are available at this web address - https://www.melbourne.vic.gov.au/enterprisemelbourne/BusinessSupport/lmcommendations/Pages/Applications.aspx

New Rules On Credit Card Surcharges By Retailers.

Following a review by the Reserve Bank of Australia, Visa has introduced new restrictions on any surcharge that retailers make for the customer use of credit cards.

Basically, retailers must restrict any surcharge to “a reasonable cost of card acceptance”. The justifiable surcharge can be made up by the Merchant service Fee (MSF), terminal line cost, credit card terminal rental, annual acceptance fee and employee training to operate the terminal.

At the time of writing, other credit facility providers had not followed Visa’s lead.

Traders Meet With QVM Board

In what is believed to be an historical first, a Trader Representative made a presentation to  a meeting of Directors of The QVM Board this week.

Trader Representative Greg Smith (General Merchandise PE) made a brief presentation at  Thursdays Board meeting at the Melbourne Town Hall to discuss progress on the operation of the Trader's Advisory Committee and the process of renewal in the top end of the market.

Presentation to the Board was a key item on the Traders wish list at last years series of meetings between Traders, Melbourne City Council, and Paul Guerra, the Chairman of the QVM Board. At those meetings the Board made a commitment to stay connected with Traders and this week's presentation is consistent with that undertaking.

It is hoped that Traders will be able to make further presentations direct to the Board as the TAC process moves forward.

COMMENTS:

22/03/2013 13:47:31 " Good to read  About the meeting and Greg having a word on our behalf. Keep up the good work Greg. " Andy