Page 61 - RetailWorld-May2021-Tobacco-Updated

THE MARKETPLACE LANDMARK MARKET’S COVID RECOVERY STRATEGY Queen Victoria Market’s management revealed a draft five-year strategy last month to support the Melbourne landmark’s recovery from the pandemic’s impacts, along with longer- term revitalisation. With a “significant drop” in foot traffic in 2020, the market and its traders are said to be among the hardest hit by the pandemic due to its CBD location and status as a “top tourist and events destination”. The draft ‘future market strategy’ sets out to preserve the heritage and what people love about the venue, while enhancing the retail offer and experience, to serve more Melburnians, in particular the core inner-city catchment and a younger demographic. Highlights of the draft strategy’s proposed new offerings include: • New specialty shopping and services precincts – local needs, ‘Melbourne Makers’ and a business incubator for new traders. • Expanded fresh produce offer – more seasonal local produce, dry goods and convenient semi-prepared and ready-to-eat items, and take- home meals. • More hospitality options – evening dining/bars, quick/casual food and produce sampling/grazing. • Over time, some parts of the market to open in the evening and on non-market days (hospitality/ events focus). • Enhanced retail configurations and more placemaking, seating, weather protection and pedestrian- friendly spaces. • More events and activations to support existing traders and bring different people into the precinct throughout the day, week and year. Some other critical components of the draft strategy include supporting current traders, attracting new innovative businesses, and improving safety and environmental sustainability. The draft strategy is said to complement and be dependent on the City of Melbourne’s ‘market renewal program’, which involves retaining and restoring the market’s historic structures, improving customer and trader facilities, and helping meet modern operating standards. CEO Stan Liacos says Queen Victoria Market must adapt to recover from the pandemic and ensure its future viability. “Critical to the future of our market is ensuring we’re relevant to more Melburnians, particularly those in our core inner-city catchment and younger people,” he said. “Our draft strategy builds on the fundamental elements that we know people love about the market, and focuses on making it an even better place to visit, shop and trade.” He describes the past 12 months as among the most challenging in the market’s history. “This draft strategy will support our recovery so we can re-emerge stronger than ever.” Market management is seeking feedback on the draft strategy from traders, customers, community, and others with an interest in the market. DIGITAL MARKETPLACE SUPPORTS PURPOSE DRIVEN BRANDS Digital platform Ollee, promoted as Australia’s first local and ethical B2B marketplace, has launched with the aim to change the way retailers and businesses source ‘green’ products. According to the platform, it connects “purpose driven” Australian brands with retailers and businesses Australia wide, making it easier for buyers to find natural, organic, ethical, and eco-friendly products. More than 110 brands are said to have already signed up to Ollee, giving buyers access to 2000-plus products covering categories including food and drinks, health and beauty, home and lifestyle, kids, pets, fashion and jewellery, cards, gifts and more. Ollee co-founder Sandy Abram says the world has shifted in the past 12 months and so has the way buyers want to interact with suppliers and brands. “Buyers are looking for streamlined systems to source new products and restock existing ones,” she said. “Buyers want more one-stop shops, more choice, control and convenience. A digital platform gives them the flexibility to place their orders with multiple suppliers when they want, how they want and with the speed and efficiency that helps them save time and money.” Ms Abram adds that many B2B buyers have told Ollee they want to “self-serve”. “They’re comfortable using digital platforms and technology in a sales and ordering capacity and prefer working with suppliers that provide a strong and professional digital experience over brands that don’t,” she said. MAY, 2021 RETAIL WORLD C