Editorial: Thank Goodness That’s Over

Last Thursday’s renewal announcement was very significant. At last the papers have been signed to frame a potential $250m renewal for the Queen Victoria Market over 10 years. The market needs investment and the surety that provides will be a relief for all parties. However, in reality, the hard work is just beginning and while the renewal process goes on in the background, traders and management will need to pull up their sleeves and start preparing our market for the future. 

Reviewing market performance can start now and there are many questions. Why has business deteriorated over recent years. Why do only 20% of tourists to Melbourne visit our market? Why do many locals have such a poor impression of the top end? How do we get lapsed visitors back to the market? How significant is expensive parking? We already know some of the answers to those questions and the first round of renewal consultation (which has already started) may give us some more clues. 

Much of the work needs to be done in the top end and we know that product mix, stall allocation and stall presentation (merchandising) are key areas for our attention. Customers say that there is too much repetition and it is too hard to find things. These are areas we can work on immediately. A positive attitude from traders and professional guidance from management will ensure we score some early goals. Importantly, we no longer have to wait for a  renewal announcement to get the game started.

Have Your Say - click here.

COMMENTS:
04/11/2013 10:54:03 Market renewal "Fantastic news about our refurbishment. Thanks should go to the traders committee for doing your part. 
We've been saying for years there should be touch screen directories around the market but have had opposition to this idea because shoppers like to meander and 'discover.'  Well if they want to do that then they won't use the touch screens but for others who want to cut to the chase, they should be an integral part of the plan.  VOTE 1 for touch screens!" Jodi

Latest Retail News – 3/11/2013

Latest Retail News – 3/11/2013

1. Coles reports 4.4% sales increase in September quarter.
2. Coles and Woolworths launch in-store coffee kiosks.
3. David Jones to launch new smaller footprint store at Eastland, Ringwood and close Glen Waverley store.
4. Australian Food and Grocery Council predicts difficult Christmas for retailers.
5. Walmart to open more than 100 new stores in China over next three years.
6. AMP Capital Shopping Centres predicts 5% sales increase in 2014 following tough 4 years.
7. City of Sydney promotes active pop up shop campaign to fill vacant shops in Oxford St.
8. Specsavers declared Franchisor of the Year at recent awards.
9. Fashion designer, Collette Dinnigan, to close Boutiques in Sydney, Melbourne, London and drop high end clothing range to concentrate on family.
10. Adventurewear retailer, Snowgum, to enter voluntary administration.
11. Queensland based chain, The Coffee Club, plans 100 stores in Middle East.
12. Footlocker debuts new US style store fitout in Australia.
13. Walt Disney Company plans world’s largest Disney store in Shanghai.
14. Australians lag behind other countries with online pet supplies purchasing.
15. Wesfarmers chief says Amazon far more dangerous to Australian retailers than supermarket duopoly.
16. JB Hi-Fi’s Home concept stores to reach 16 by Christmas.
17. Dominos Pizza and RFG Pizza report strong returns from their food category.
18. Big W sales down 3.6% on last year for September quarter.
19. Fashion label, Hugo Boss, switches from Myer to David Jones.
20. Queen Victoria Market to seek world heritage listing.
21. Blockbuster UK placed into administration again.
22. US overtakes China as world leader in luxury goods growth.
23. David Jones returns to positive sales growth in September quarter.
24. Northern Californian surf, snow, and lifestyle brand, O’Neil’s,  opens first Hong Kong flagship.

Traders Hub Goes Live

The QVM Trader Hub website has gone live. A letter has been sent to all traders - 

“We are pleased to announce the launch of a new website for the Queen Victoria Market trading community. 
The Trader Hub has been created to keep you informed on market issues and provide a central point for you to access information and resources. 
In the near future, you will also be able to access your account information including your transaction history and leave balances. “

Your editor has viewed a beta version of the Traders Hub which included account information and rental payments. This will certainly be a major step forward in accessing useful information for traders and is a welcome addition to trader services.

Have Your Say - click here

Guru Pete’s Tip For Melbourne Cup

We normally keep Pete’s tips for our Facebook page but the Melbourne Cup is a special event and we hope Pete won’t mind if we give him a bit more exposure on this website.

Pete’s tip for Tuesday’s Melbourne Cup (Race 7) is number 19, Simenon. As usual we recommend you take it for win and place. Good luck to all punters and enjoy your day.

Update - Pete's horse ran 4th in the cup.

David Jones New Store Concept – A Lesson For QVM?

David Jones will be opening a new store concept at Eastland as it prepares to close its nearby Glen Waverley store.

The new David Jones Eastland store will have a smaller foot print, a lease term of 15 years and will incorporate the features of the next generation store concept, such as a 75:25 mix of fashion and beauty versus home categories, instore click and collect pick-up stations, traffic analytics, free wi-fi, customer dwell areas with charging stations, omni-mirrors, and the ability to shop the full line David Jones offer online in the store.

This represents an interesting adjustment to new consumerism for DJ's and raises the question of whether QVM needs to address its own approach to new consumer trends, particularly related to new technology, as part of the renewal process. An old style retailing environment can be a very attractive drawcard for QVM but the challenge will be to offer ancillary services that at least meet those of our competitors.

Have Your Say - click here.

New Report Identifies Ways Retailers Can Evolve

The report from AMP Capital Shopping Centres contains 5 papers each on different key aspects of engaging consumers. Titled The New Consumer Paradigm: Embracing the Evolving Retail Landscape, the report examined five of the major structural shifts set to influence and shape Australian society – globalisation, generational evolution, urbanisation, technology and innovation, and consumer behaviour.

 Be internationally competitive – Michael Baker, a retail and retail property consultant, argues that with international retailers predicted to capture 6 per cent of the Australian fashion market during the next five years, it’s essential the local industry responds seriously with tactics such as critical investments in mobile and e-commerce, assortments and pricing.

 Understand your audience – Tony Dimasi, retail research expert, recommends an understanding of generational cohorts to help build a better and stronger business although this is no magic bullet. For example, Gen Ys love Mexican food and are also significant purchasers of fashion, although at low price points.

 Support the New Great Aussie Dream – Gavin Duane, market and economic retail expert, provides guidance on how the retail industry can react to more Australians living in dense inner suburban areas. Retailers and shopping centre landlords should consider services such as 24-hour trading and a greater food and entertainment offer.

 Seamlessly merge the digital and analogue world – Anders Sörman-Nilsson, futurist and innovation strategist, advises retailers on how to best provide informational value to consumers’ increasingly digitised, rational minds while still connecting experientially with their enduringly analogue, emotional hearts.

 Help your shoppers boost their ‘Status 2.0’ – Dr Amantha Imber, innovation psychologist, reveals how retailers can differentiate themselves by supporting their customers in improving their social media status. Embracing customer desires is key to success in remaining relevant in this changing retail landscape.

Get the full report here - http://www.ampcscresearchhub.com.au/ResearchASPX/media/ResearchHub/Reports/New%20Consumer%20Paradigm/RRP-Report-Final-2013-(Low-Res).pdf?ext=.pdf

Another Car Park Hog

Last week we had a picture of a Ferrari taking up two car park spaces out in the main carpark. In a bit of one upmanship we now have a Nissan occupying 4 parking spaces in one of the sheds.
Thanks to Terry for the photo.

Traders Thinking Outside The Box

Trader John Rosenberg has had a specialised storage box made up which will give him a convenient way of displaying his goods and avoid the hassle of finding a storage location for an empty box during trading hours.

The oversized storage box is best described as a standard box on its side with an additional layer added. The top of the box opens up and folds out to form a large display table which dominates the centre of his stall. John has only been using the new storage/display facility for a week or so but finds significant advantages in convenience and time saved. Maybe more traders need to think outside the box.

Have Your Say – click here.

Market Renewal – Consultation

The first 12 months of renewal will involve consultation with traders, customers, local residents, businesses, heritage interests and other interest groups although much will be done over coming weeks.

Consultation with customers has already started with a container in String Bean Alley being made a consultation centre and vox pops (from latin vox populi “meaning voice of the people”) operating around the market. The container will be the feature venue on Saturday 9^th November and Sunday 10^th from 10am to 3pm.

Public questions will include –

Where do you live?

How often do you visit the market?

What do you love about the market?

What would you change about the market?

What aspects do you think should be protected?

Do you have any aspects of the market you would like to share?

Do you have a big idea for the market?

Traders will be involved in three special consultation groups of 20 traders beginning on Thursday 7^th November. Deli Hall and permanent shop traders will be at that first consultation. Meat, fish and fruit & vege traders will meet on Tuesday 12^th November and general merchandise traders will join together on Tuesday 19^th November. Trader Representatives will be contacting potential participants over coming days.

Public Comments About QVM

Michael Crowhurst 01 Nov 2013, 04:27 Pm
I visit the Vic Market quite often and use it in a variety of ways - I eat lunch in the 'deli' section if I am working in the city - I buy veggies there on the weekend if I want to make my weekend veggie shopping a little more exciting - and I take any OS visitors there for lunch and a walk around. I have also gone to the food nights that are held there and enjoy these. I think the charm of the market is that it is a real market - you can buy food there. The clothing stalls are also good. Vic market is a great mix of street performers, Spanish donughts, fresh fish, great coffee, hot chips, organic oats, metal structures, Melbourne characters, dogs, old people, fresh fruit, spruikers, all of this close to a tram and all of this steeped in history. 

I think it would be great to highlight the market's past to a greater extent - the old cemetery. On the one hand this is good - but on the other - there are I understand - a lot of Aboriginal people buried under what is now the car park. I'm not sure whether this is acknowledged on the site at all - this would be something that I would be doing if it is not already in place. A tree in the centre of the car park that commemorates those who were buried there and particularly the Indigenous people who are buried there. 

Mainly i agree with what others have written - keep it great by supporting or subsidizing it to remain a functioning market - where real people buy real food - not tourist trinkets. 


Market Trader 01 Nov 2013, 11:35 Am
Some good points Simone. I often hear people say that the best part about QVM is that it is a "working market", full of hustle and bustle and a "people watchers" delight. 
The "bric-a-brac" is probably overdone but I think it is easy for food shoppers to dismiss that aspect while tourists do embrace it. And I can assure you there are some gems amongst the bric-a-brac. It can certainly be improved - perhaps easier ways to move around, the creation of like-product precincts, a more interesting stall mix and less repetition. 
Car parking is an issue, and for the food vendors, particularly important. They rely on large family purchases which are physically difficult to carry on public transport. Cars will remain an important mode of transport for the market. 
As a trader, it is great to see this quality debate over the market's future.

These comments have been taken from the public comment forum on the City of Melbourne website. There are plenty more to see at -  http://participate.melbourne.vic.gov.au/projects/queenvictoriamarket/forum_topics/what-aspects-of-the-queen-victoria-market-do-you-think-should-be-protected

Have Your Say - click here

ABC's 7:30 Report Video On Renewal

Click on the photo to go to this evenings 7:30 Report interview with Robert Doyle.

More News About Renewal Announcement

Here are some links concerning today's announcement by Premier Denis Napthine and Lord Mayor Robert Doyle on QVM market renewal.

ABC news item and video  - http://www.abc.net.au/news/2013-10-31/queen-victoria-market-to-get-major-upgrade-and-possible-heritag/5060174

Channel 10 video link - http://tenplay.com.au/news/melbourne/2013/10/31/royal-revamp

Have Your Say - click here.

Channel 7 News Video of Market

Here is the video on Channel 7 News covering today's renewal announcement by Premier Denis Napthine and Lord Mayor Robert Doyle.




Have Your Say - click here.

Official Word On QVM Renewal

Here is the link to the official CoM page about renewal including an audio link to Lord Mayor Robert Doyle's discussion.

http://www.melbourne.vic.gov.au/AboutCouncil/MediaReleases/Pages/SecuringQueenVictoriaMarket%E2%80%99sfutureaonceinacenturyopportunity.aspx

Queen Victoria Market Forever

Today's press announcement by Premier Dennis Napthine and Lord Mayor Robert Doyle marked the start of what has been called one of Melbourne's biggest ever projects - the renewal of The Queen Victoria Market. The announcement was made out of a String Bean Alley container with a theme of "Forever - Making A Great Market Even Better." 

The presentation highlighted a proposal to include a 1.3 hectare green park over the current carpark, the construction of an underground carpark, and a World Heritage Listing application for QVM. The project, which could involve investment up to $250m, would begin with a comprehensive consultation program to start almost immediately. 

The Premier and The Lord Mayor both listed trader concerns high on their agenda and traders have received some initial assurances that they will be involved at various levels of consultation.

In fact the recent announcement of Traders Representatives being included on a sub-committee of the QVM Board is confirmation of that assurance, and more importantly, the requested role of traders beyond consultation and into the actual decision making process.

Traders can expect much press activity around the project and it has been the lead item on ABC Radio news this morning. There will be plenty to view and read about our market over coming days and a public involvement that will hopefully include a boost in crowd numbers throughout the market.
Have Your Say - click here.

Traders Comments - continued

The original trader's proposal for lock up shops on 25/10/2013 has gained considerable reaction so we have posted the comment again along with some of the responses from other traders.

25/10/2013 10:28:36 Lock-Up Shops "I am wondering who thinks that maybe certain rows of the market(THE PART THAT WILL STAY AS A MARKET) should have lock up facilities in order to try and help attract future quality tenants.Obviously the problem with attracting new tenants, is the enormous workload and expense with manually setting and packing up." 

COMMENTS:
25/10/2013 10:53:54 Lock Up Shops "Not sure about mass lock up shops but I have often thought that 5 or 6 containers suitably spaced out in an aisle would add variety and could accommodate those who don't want packing/unpacking. Probably higher rents though. "

25/10/2013 15:26:50 Lock-Up Shops "Totally agree. of course the market would ask for higher rents. I do believe it will happen with our blessing or not. From experience I do no think the council or board of directors will ever let us know their true intentions.... "

26/10/2013 16:31:20 Lock up Shops "All or nothing what benefit is two types of trading. Some outside some in lockups. May as well change Market name to Queen Victoria Factory Outlets this will onlyspeed up the endof the largest outdoor market in the southern Hemisphere" JR EShed

30/10/2013 14:57:30 Lock-Up Shops "Who wants the largest outdoor market title, if it looks like that, is outdated, traders unprofitable.Let's re-introduce the typewriter, donkeys with carts, and big brick phones. Seriously we are very outdated with our thinking. We need to create concepts to survive and combine them with the old..." 

30/10/2013 15:03:08 Lockup Containers "I think that lockup containers spread around the market sounds like a great idea count us in !!! With some great artwork on them that we already have around the market. I always see the tourists taking photos of them." Fairydance

Have Your Say - click here.

Latest Retail News – 25/10/2013

Latest Retail News – 25/10/2013

1. Myer adds warehouse facilities to boost its online capacity.
2. Woolworths withdraws from bidding on Hong Kong’s Park’n’Shop supermarket chain.
3. Western Australia economy outperforms other states with retail spending a key factor.
4. Australia Post’s profit up 10.9% for 2012/13 despite loss on regular mail.
5. CEO of David Jones resigns.
6. Retail legend Muji (Japans answer to Ikea) will open first Australian store at Chadstone Shopping Centre next month.
7. McDonald’s third quarter global profit rises by5%.
8. Commonwealth Bank says spending fell for first time in 13 months in September.
9. Wotif reports soft accommodation market despite rise in confidence post election.
10. Prada opens Tokyo megastore.
11. David Jones expected to look overseas for replacement for CEO Paul Zahra following shock resignation.
12. Ibisworld says hardware retailing expected to grow by 2.2% in 2013/14 with rise in housing construction and renovation.
13. Amazon opens distribution centre in Czech Republic as European sales increase.
14. Wesfarmers report Bunnings sales up 10% for September quarter while Target down 6.1%.
15. Super Retail Group plans 25 new stores in 2014.
16. Nike overtakes Billabong as favourite clothing retailer for Australia’s youth.
17. Online clothing giant, Asos, reports 40% increase in sales for 2013.
18. Sydney’s Greenwood Plaza Shopping centre launches rooftop garden for customer leisure.
19. CPI rises solid 1.2% in September.

Remote Control Tourist At QVM

We published an article recently about this exciting new tourism innovation, the Remote Control Tourist -http://www.victraders.com/2013/10/remote-control-tourist.html and expressed the wish that the RTC would visit the Queen Victoria Market. Well, it has happened. Check out the video.



Have Your Say - click here.

Consumer Confidence Up But Where Are The Retail Sales?

The Westpac Melbourne Institute Index of Consumer Sentiment, released last month, increased by 4.7 per cent to its highest point in three years. The rise is put down to the federal election but a number of factors have raised doubts about whether that will translate into retail sales.

Retailing generally is continuing to struggle. The Commonwealth bank reports that consumer spending in September was down for the first time in 13 months. The Port of Melbourne Authority says that imports by retailers are down 1% over last year and last year was a poor result. Online accommodation giant, Wotif, have reported that holiday bookings are unusually soft and the toy industry is reporting that sales are down 2% for the year so far. At a recent AGM Pac Brands (Bonds clothing) CEO John Pollaers said preliminary indications showed that earnings and net profit in the first half of full year 2013/14 “may be materially down” compared to the previous corresponding period.

Australian Retail Association executive director Russell Zimmerman was reluctant to ‘‘put it down as a disastrous Christmas just yet’’, because consumer confidence appeared to have increased as a result of the change of federal government. But this would not be the first time that retailers have been puzzled by consumer responses. 

We are definitely breaking new ground with consumer attitudes and  many retailers will be looking nervously at October sales results. If trade at QVM is any guide, we shouldn't be expecting a great result and the retail dilemma continues.

Have Your Say - click here.

QVM Needs An App

With mobile phones becoming increasingly popular with customers for retail engagement is it time QVM looked at creating its own app?

Apps are used by all the major department stores, most retail chains and most shopping centres. An app is a great way of guiding customers to the services offered by retailers and can offer a range of functions, even direct online purchases.

One key basic function of an app is to act as a directory and there are few places more confusing and more in need of directory advice than our own Queen Victoria Market. At the recent trader's meeting, Jan Cochrane-Harry raised the possibility of re-introducing an information booth to assist our customers. Not only do we have over 800 businesses spread over 7 hectares but many of our  traders change positions each trading day.

Add in different trading hours for different market sectors, no trading on Mondays and Wednesdays, and a confusing shed/aisle identification system, and we can understand why our customers need help. An app is a great way of feeding information to people and letting them concentrate on the central reason for visiting our market - to buy products.

A key ingredient of our iconic shopping experience at QVM is stepping back in time but when it comes to technology we need to look ahead. This is all about customer service and an app could be a great way of enhancing our appeal as a shopping destination.

Thanks to trader, Krista, for raising this idea.

Have Your Say - click here