The changes in retailing are quite bewildering and while we
search passionately for the reasons (because they impact so directly on
business levels) some trends are becoming clear. One of those trends is a
growing cafe culture and it has implications for QVM.
Real estate commentators talk about "location, location,
location" and in the past that has related to things like schools and
public transport but as families and work/leisure activities change the
location of cafés
and restaurants become more critical in buyer's choices.
"Walkability" has become the new buzzword in property circles. There
is even a website called walkscore.com
which measures the number if desirable locations within walking distance of
your location.
Saturday and Sunday breakfast outings are becoming more and more
common as lifestyles change and the typical family becomes smaller, more
attracted to apartment living and "getting out" becomes less about a
walk in the suburban garden and more about a trip to the local cafe.
What implications does all this have for QVM? Traders have often
questioned the apparent proliferation of ready to go food outlets at the
market. F shed has been transformed from a general merchandise aisle to a food
aisle over recent years. Do we really need all these food outlets? Well, the
answer probably lays in the success of the Night Markets built largely on
creative food outlets and the associated entertainment. And the opportunities
would appear to be enormous. Imagine our finest fresh food in the F&V,
meat, fish, and deli areas being served up in cafés
and restaurants all within the perimeters of the QVM site.
Melbourne is becoming a city of apartments, no more so than
around our own Queen Victoria Market. With some 3,000 apartments being built
per year the increasing supply of apartment dwellers looking for food is likely
to be significant.
In a sense, increasing the food component at QVM adds to the
competitive strain on many other trader categories. After all, it is just
another form of discretionary spending. However, if we can generate bigger
crowds at QVM by meeting the needs of more and more customers then logic
suggests all participants at the market will benefit.
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