QVM In The News - 8/9/2019

Market traders access free business mentoring Mirage News Hundreds of Queen Victoria Market traders are growing and innovating their small businesses after accessing expert business advice through the City ...

Best Juice Bars in Melbourne Best in Australia Market Juice For over 50 years our family has been selling fresh produce from Queen Victoria Market. In 2001, we started Market Juice from our stall ...

Heard Under The Sheds – 1/9/2019

A Trader has suggested a memory quiz for Traders seeking the new Trader Service Awards. To prove their longevity they would be asked historical market questions. An example might be “Where were the QVM 100 year celebrations held in 1978?” and “What was the Sunday rent in open stands in 1978?” Thanks to Neil MacDonald for this proposal.

Rumours that 2 more Traders from the Upper Market are planning on hanging up their market boots soon. Both have normal wage jobs lined up.

A Trader reports that he was delayed by a customer after closing time on Friday, more followed, and he did a good bit of business before closing an hour later. He is under no illusions (when you are the only trader still open you will likely get business), but after a quiet day, the surge at the end was most welcome.

A Trader has suggested that rather than place barriers between containers in SBA we should encourage customers to walk between containers and add to the whole “exploring a city alleyway” feeling.

Night Market Weather – A Trader says Night market seems to be charmed with good weather even in winter. Traders have commented on the willingness of Melbournians to come out even when weather forecasts look dire. This week might have been our worst weather for the season with a very bleak forecast earlier in the week and a significant downpour at the start of the evening. The crowd was still significant.

Passenger Vacuum – Friday’s tram strike appeared to have a severe effect on customer numbers at the market. A customer who walked from Flinders St. during the strike said that there was a huge crowd down around Flinders St. but numbers dwindled as she walked up to the market.

Passenger  Opportunity - The temporary bus depot established at nearby Flagstaff Gardens over the weekend while the City Loop was closed didn’t create the hoped for rush of travellers at the market. One Trader said he visited the area at about 2:30 on Sunday and there were only 2 buses in transit and no more than 5-6 passengers at each pick-up point.

A Trader says there is definitely a good use for C Shed - 5 children of stall holders, a couple of cardboard box “goals” and a soccer ball all combine for some real action.

The QVM sausage sizzle in Queen St. on Sunday was apparently quite well patronised. Proceeds went to the Prostate Cancer Foundation with at least two Traders paying $20 for their sausage and refusing the change.

Bad (but irresistible) Joke of the Week - "Why did the super model insist on learning trapeze? She wanted to get into high fashion."

Have Your Say - click here.

The Huge Challenges We Face In Marketing A Market

Planning a yearly marketing campaign used to be quite easy. Plan for Mother’s Day, Father’s Day, and Christmas and your job was pretty much done, but that has all changed.

Mother’s Day and Father’s Day are no longer the big sales events they used to be. Somehow they have drifted into background and even Christmas is a pale representation of what happened as recently as 10 years ago.

So how do we plan our campaigns now and what are the kicker events that are likely to give us the regular sales boosts we so badly need for retail survival? If customers are not inspired by traditional sales events like Father’s Day they are inspired by entertainment and fresh new concepts. And targeting customers can make a lot of sense.

Special events in a city the size of Melbourne can draw huge crowds. 55,000 fans at marvel Stadium is potentially a great source of business. Last week’s Boomers/USA basketball match is an example when the city was dominated by basketball fans. Any Pink concert and sporting events like State of Origin Rugby League seem to bring us a blip in sales. Then there are the growing number of pop culture events like e-gaming, comic festivals, and technology shows.

We know that many visitors to Melbourne visit our market but targeting specific fan groups when they arrive would seem to make a lot of sense. Out photo shows a group of Storm Troopers. Imagine those wandering the market during a Star Wars or related pop culture event. Add in that amazing music structure suspended from the ceiling in RK-RL booming out the Star Wars theme and the entertainment starts to make sense.

The retail world is in revolution. The industry has been thrown up in the air with a whole lot of new demands and expectations placed upon it. It has been broadened by the new ways that customers have to search for goods and there are new priorities in spending. Finding new and exciting ways to entertain customers is a big challenge. Now where is my Darth Vader mask?

By Greg Smith (with thanks to Kris Robinson)

Latest Retail News – 1/9/2019

Latest Retail News – 1/9/2019
1. Adairs profit slips
2. Woolworths expands its quiet time offer for sensory challenged customers.
3. Nestle expands its plant based meat range in Europe.
4. City of Melbourne business grants open for application.
5. K-Mart earnings drop while Bunnings and Officeworks show online improvement.
6. Petrol companies report reduced profit on back of lower consumer demand.
7. David Jones to enter convenience store industry with BP.
8. Caltex to get rid of 50 sites as it tackles costs.
9. Noni B considers re-brand.
10. Nestle to shut Victorian factory.
11. Woolworths full year profit up 7.2% but Big W continues to struggle.
12. Three quarters of grocery shoppers rank ethical brand behaviour among their top three priorities.
13. Kaufland confirms 2 more sites in Victoria.
14. Heinekin to launch Australia’s first beer drive through.
15. David Jones profit down 50% in full year 2019.

QVM In The News - 1/9/2019

Best German Restaurants in Melbourne Best in Australia They have been serving their famous 'brats' for over twenty years at Melbourne's Queen Victoria Market. Their very own 'wurst' is made to their own ...

Farm gate goodness in the heart of the city CDB News Queen Victoria Market's (QVM) go-to man for milk, eggs and honey Luke Graczyk has been providing locals with the essentials for more than 10 years.

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Major Milestone In CBD Security Upgrades Mirage News Security upgrades at Federation Square, Southbank Promenade, Southern Cross Station, the State Library, Queen Victoria Market and Olympic ...

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David Jones And BP To Transform Convenience Retailing

David Jones and BP are to join forces in a major innovation for the convenience store industry.

They will offer up-market food items from select BP sites in Melbourne and Sydney. The intent is to take advantage of changing food habits as consumers seek more than the traditional hot dog and Coke offer from service stations.

Consumers are changing from a regular 3 meal a day food pattern to an on-demand and more flexible offer that will enable them to accommodate hectic lifestyles. Quality food to eat now or eat later is a new driving force.

Combining David Jones reputation for quality food with a leader in the convenience store sector would seem to make a lot of sense.

Linking story: https://insidefmcg.com.au/2019/08/28/why-bp-is-getting-into-bed-with-david-jones-the-promising-marriage-of-petrol-and-gourmet-food/#daily

Heard Under The Sheds – 25/8/2019

From our joking Trader – “A farmer goes to the Royal Show and bumps into a chicken. They strike up a conversation and the farmer asks what the chicken is doing there. The chicken says “I’m a judge.” “What, in poultry?” says the farmer. “Yes, of course in poultry. I’m considered an eggspert.”

It was early Saturday morning and a Trader was seen in the car park leaning against his car. He was asked if he needed any help. “No”, he replied. “I’ve just checked inside the market and the huge number of vacancies has me wondering if it is worth setting up.” He did and it wasn’t. And no, that is not a joke.

One of our Traders attended the Boomers/USA basketball match on Thursday night and says the media has gone haywire with their criticism. He found the game an absolute hit with great quality basketball, great entertainment and a very worthwhile event.

A Trader is asking where all the tourists have gone. The tourism stats in last week’s Trader’s Bulletin confirmed that interstate visitation was down but apart from what she described as “$5 T-shirt buyers” there appears to be a remarkable absence of overseas tourists. Maybe that is because our hotels are full of basketball fans this weekend?

Back in 1981, Billy Field released a very successful song in Australia called “You Weren’t In Love With Me” which contained the lyrics “Blind Freddy knew that, a blind man could see, I was in love with you, but you weren't in love with me.” On Saturday morning Traders in L Shed were treated to a singalong of that song by crooners Guru Pete and Michael Mallon, and maybe, just maybe, a cover is in the offering.

A Trader said that Friday was one of those days when the longest discussion he had with a customer involved directions to the nearest ATM.

A member of staff has suggested that every Trader could be given a handbell to ring after each sale. It would certainly create some theatre and buzz around the market. We know of a chain of restaurants that gets customers to ring a bell as they leave, so the idea has been around.

A Trader has suggested that a pop-up basketball gear stall may have been a good idea over the weekend to take advantage of all the fans in Melbourne for the big Boomers v USA match. 

A Trader asks when our new trading hours will come into operation and the answer is that a date will be advised as soon as discussions with individual leaseholders are completed which is expected to take a couple of weeks.

The wife of one of our many husband/wife teams at QVM was asked if she was going to give hubby a day off for Father’s Day next Sunday. Her response left little room for doubt - “Fat chance”.

Have Your Say - click here.

Entertaining The Customer

Traders Demand A Wage Rise

Traders are demanding a wage rise, not for themselves, but for the millions of Australian workers who are suffering very poor wage growth, and the idea has support from high up in government circles.

“My view is that a further pick-up in wages growth is both affordable and desirable.”- RBA Governor Philip Lowe

The Reserve Bank Governor, Phillip Lowe, has warned of the dangers of low wages growth and the inability to reach adequate inflation figures as we struggle to control our economy.

Wages growth nationally, which averaged closer to 4 per cent prior to 2008, has now been at or below 2.5 per cent for almost five years.

According to the ABC, “The low wage outcomes are a big factor in the RBA continually undershooting its inflation target. It also puts a brake on household consumption and ultimately the entire economy.” And further commented – “While the RBA's cuts to its GDP growth and unemployment forecasts last week gained most attention, household consumption growth was also pruned back from 2 per cent this year to just 1.5 per cent — not exactly great news for struggling retailers.”

The expectation is that wages growth will give consumers more buying power and stimulate the economy. If that happens, Trader’s own wages might see a boost.

RMIT Interns Making Real Improvements to Trader’s Website

Our photo shows RMIT Interns Shantelle-Ann (L) and Christian (R) who are assisting Trader, Greg Smith, update his business website through the QVM - SBMS mentoring program.

Shantelle-Ann is a Journalist and she is working on stories to better inform viewers and customers. She is compiling questions related to key aspects of the business and then researching responses which will be added to a blog component on the website. Stories will involve products that perhaps are not fully understood by the public but have interesting history, uses, and benefits. The idea is to inform and entertain, and generally make the website more attractive to potential customers.

Christian is skilled in web development and he is upgrading a rather old fashioned website presentation into something more dynamic, more interesting, and easier for customers to navigate. His aim is to keep it simple (not too many products to confuse customers) but essentially to make it easier to navigate the site, make a choice, and press that all-important “buy” button or alternatively direct customers to the market.

This liaison with RMIT interns and students is part of the QVM-SBMS mentoring program to assist Traders through retail change at QVM.

By Greg Smith

Latest Retail News – 25/8/2019

Latest Retail News – 25/8/2019
1. Ikea commits to smart home products.
2. Private label boosts Kogan profit.
3. Beacon Lighting misses profit forecasts.
4. Vinomofo launches on-demand wine delivery with Deliveroo and UberEats.
5. Domino’s profit falls.
6. Lego announces first Victorian store at Westfield Doncaster.
7. Coles profit drops but online and own-brand show promise.
8. Reject Shop posts $16.9m loss in FY2019.
9. David Jones launches new womenswear range.
10. Flight Centre says Australian travel market flat.

QVM In The News - 25/8/2019

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Nine of the Best New Fashion Retail Openings in Melbourne This Year (So Far) Broadsheet The pair initially sold their garments online before opening their first bricks-and-mortar store at the Queen Victoria Market in June this year. The shop ...

String Bean Alley's six most Melbourne things to do Beat Magazine If you haven't heard yet, there's a new kid on the block at the Queen Victoria Market. String Bean Alley is Melbourne's newest laneway, lined by ...

Hawker 88 Night Market Queen Victoria Market The Hawker 88 Night Market brings the sights, sounds and tastes of Asia to Queen Vic Market this spring.

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Heard Under The Sheds – 18/8/2019

Following our article a couple of weeks back about sourcing goods overseas, one of our Traders reports that he was forced to go to China to source some key products when local suppliers stopped importing. The local suppliers were responding to the general downturn in business, and by-passing them to go direct to the source has worked out well for this Trader.

There is a rumour that the Summer Night Market footprint may not include F Shed Traders this year. Keeping the Night Market full and busy adds to a successful atmosphere but it would be unfortunate if fewer Traders were exposed to the Night Market opportunity.

The media reaction to our new food delivery service has been huge with multiple articles across the traditional and social media spectrum. One Trader observes that there is now equally huge pressure to get this right. He hopes the Traders who participate are well prepared.

With seemingly bad news on TV and in the papers all the time at the moment, one of our Traders says he has a new daily resolution – get all his customers to leave with a smile.

You will be pleased to know that Spring is in the air according to one of our market experts. Guru Pete says the bees have started buzzing around the planter boxes and Pete is always right.

Apparently a group of Traders have incorporated “Chocolate Day” into their working week. They take it in turns to buy and share a couple of blocks from the Melbourne Cocoa Company in String Bean Alley.

And to the Trader who said we wouldn’t publish his joke – “What vehicle does a sheep drive – a utility.”

A Trader says the news in the latest Trader Bulletin that Chinese tourists are now more likely to shop individually instead of through shopping groups is very positive. Tourists being siphoned off to over-priced souvenir warehouses is hopefully on its way out.

Have Your Say – click here.

Traders Encouraged To Take The Plunge

A combination of changing customer preferences, competition, and financial realities is encouraging many Traders to take the plunge and change their trading arrangements.

Changed trading arrangements may involve giving up days, down-sizing, or moving stalls. It makes sense to cut out the unprofitable aspects of your business and experiment with new arrangements. For some Traders this is a cause of anxiety, but it doesn’t have to be that way.

Reacting to changed trading conditions is a smart move and can have significant financial and emotional benefits. In times of great change flexibility is important, and most changes can be reversed when things improve. Some PE Traders have expressed concern about giving up stalls but giving up a stall doesn’t change your trader status. Stalls or trading days can be added down the track.

If you find there are days that are just not worth trading at present, talk to your Precinct Manager and find out your options. You may be surprised at how easy the process is. Ultimately we all want happy profitable traders who are best prepared for difficult trading conditions. Trading at QVM has inherent flexibility and it makes good sense to use that flexibility to enhance our profitability particularly in tough times.

Have Your Say – click here.

Latest Retail News – 18/8/2019

Latest Retail News – 18/8/2019
1. Queen Victoria Market goes online.
2. Dairy Co-op, Fonterra, predicts $560m full year loss.
3. JB HiFi advises record sales and profit for 2019.
4. NRA ends takeover talks with ARA.
5. Owner of Emporium posts 72% fall in profit across Australia as tough retail conditions bite.
6. Blackmores annual profit plunges.
7. Spendless Shoes sold to Novo.
8. Target to focus on higher quality goods.

Age Proposes Two Shifts At QVM

An interesting editorial has popped up in The Age this week as the media outlet expresses its views on how QVM should operate.

The article published on Wednesday suggests that QVM must adjust to changing times and is more than its heritage-listed sheds.

In relation to two shifts it says – “The Age supports the plans to expand the Queen Victoria’s night market and sees no reason why the venerable institution could not have two shifts: a traditional morning market for shoppers and an evening market for diners. The key is outlining a vision and communicating the potential benefits to, in particular, the long-suffering traders.”

You can read the full article here - https://www.theage.com.au/national/victoria/queen-victoria-market-must-adapt-to-changing-times-20190814-p52h5j.html

QVM In The News - Fresh Produce Online - 14/8/2019

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Snack Bar: Melbourne's Latest in Food, August 12, 2019 Broadsheet Queen Victoria Market now delivers, so you can order duck eggs and local cheese from the comfort of your couch. • Get fried chicken and waffles with ...

You Can Now Shop Queen Victoria Market From the Comfort of Your Couch Broadsheet Grocery shopping at Melbourne's iconic Queen Victoria Market walks a fine line between delightful and harrowing. While there are rows upon rows of ...

Queen Victoria Market goes online Inside FMCG Melbourne's Queen Victoria Market is driving the 19th century marketplace into the digital age by bringing its fresh produce online. The famous ... Freshly Squeezed: 12.08.19 - Power Retail Full Coverage

Queen Victoria Market is heading online 3AW Melbourne's iconic market place is set to revamp it's shopping experience for customers by offering a online shopping and delivery service. Queen ...

Heard Under The Sheds – 11/8/2019

A Trader loves the line in Beat Magazine’s report on QVM – “String Bean Alley – the place to bean.”

“The Caped Crusader” – is the name Guru Pete gave to Ronnie (of the Fabulous Juice) this week as Ronnie engaged with customers looking for guidance around our market.

There has been some criticism of an article in the Age this week and reference to a sinking ship and cheap goods on sale. In fairness, CEO Stan Liacos was talking about the need for change so the boat will not sink, and Leah Moore’s reference to “cheap leather goods” was probably more about discounted prices than cheapness. It is sometimes difficult to get the right point across when a newspaper report is the arbiter.

A Trader recalled the times when he would sell bolts of cloth at country markets where business was brisk because country wives could not get access to those things. Finding that special niche that meets unsatisfied demand is the secret to good trading, but where does that niche lie in today’s digital world?

The chocolate shop in String Bean Alley has been asked to stop handing out samples of their chocolate until they install a sink and hygienic washing equipment. Health rules are important but sometimes they really sound like overkill to general observers.

A customer from the north asked a Trader if the afternoon storm on Sunday would put a stop to trade for the day. The Trader said “No, the sun will come out again”. You could tell by the look on the customer’s face that they didn’t believe the Trader, but this is Melbourne and the sun did come out again.

Letters have been sent out to a number of SL licensees to restart the licensing program that was put on hold for renewal. The licensing structure will not impact on PE Traders. And a Trader asks what level of investment would be needed to get an extended license (4 years instead of 2)?

Another Trader asks if there is a break out clause in the new licenses. If the Trader is forced to leave the market, does the license obligation cease?

Trader, Yakov, apparently featured on the TV News on Saturday as he proudly wore his Hawthorn Football Club scarf following their win against the Sydney Giants.

This week’s “Artic chill” reminded one Trader of the day he complained to his Russian trading neighbour about the cold only to receive the reply “You should try living in Siberia for a few months” – Yep, it is all relative.

Have Your Say - click here.

Volatile Mood Under The Sheds

You could say this weekend’s Trader mood was volatile. Poor business, unfavourable press, and concern over some license renewal letters that went out during the week all had impact. Add in a TRC agenda item about a demerit points system for Traders and the drums were beating loudly.

Demerit systems are unlikely to get a good reception from independent business people like QVM Traders. As one Trader said many of us refused to accept our School Headmaster’s instructions and probably one reason we ended up at QVM is because we wanted greater freedom in our business lives than regular employees are able to achieve.

Toeing the line is not our strong point, but the observation was made by another Trader that if there is to be a demerit system it should apply equally to all. There are rules that we want our neighbours to follow, and most Traders believe that bad behaviour should be policed. The last thing we want is un-structured preference being shown to some Traders over others. A carefully balanced, structured points system would treat everyone fairly.

Let’s not go too far down this track because the subject is up for discussion at the next TRC meeting and more will be revealed in due course. But perhaps we can make one suggestion – change the name - drop the Demerit Point nomenclature and call it a Trader Community Co-operation Rating. That sounds a lot more positive and something we might even have accepted from our School Headmasters.

Have Your Say – click here.

My Second Best QVM Meal Ever

Friday was one of the coldest days I have endured at QVM. My phone said it was “7.7degrees (feels like 3)” but soup for lunch was an absolute warming experience and was probably my second best meal ever at QVM.

With the usual soup supplier in SBA absent due to the “Artic winds” forecast for the day, it was time to venture over to Romeo & Theresa’s Cafe(*) in F Shed where there was a choice of chicken or minestrone soup on the menu.

I ordered one of each and the chef asked for a bit of time while he heated up the soup on the stove and prepared some thick china bowls so that the meal would stay hot even with customer interruptions - a very considerate chef.

The soup was served up with crusty bread and the chicken soup was delicious. There must have been half a chicken’s worth of meat in the bowl and the proper china did its job, keeping it hot right down to the last spoonful. The minestrone also received a big thumbs up. There is something about genuine Italian home cooking.

My best ever meal at QVM was a humble cauliflower pasta dish with a hint of anchovies and garlic which I had many years ago but still remember as a standout dish. It was also from Romeo & Theresa’s.

We have some great food at QVM. The choice is almost endless and generally offered up with a big dose of good advice and friendly engagement - just one more reason for loving where I work.

By Greg Smith

* the sign in F Shed says Romeo’s Take-away, but in this business you ignore Theresa at your peril.  The banter between Romeo & Theresa, (and with their customers) makes this a very worthwhile destination, and the home cooked style food is great.