Tag Archives: local markets

 

Christmas trading results confirmed the inexorable move to online plus another problem for struggling retailers – the gulf between ‘bricks ‘n mortar’ retailers who sell online and the ONLY online retailers like AO. Marc Bolland, boss of M&S did the decent thing and threw himself onto his sword when sales crashed 5.8% and the ‘Big Four’ supermarkets all warned of falling like-for-like sales despite improved online performance.

The big winners seem to be the ONLY Online retailers like AO who don’t have any Bricks ‘n Mortar presence

But card issuers like Visa and MasterCard confirmed turnover was UP by 2% – so the difference must have gone somewhere if not into the Big Four’s websites. The two usual suspects are German – Aldi and Lidl – but their sales turnover is still far too small to represent the difference. The big winners seem to be the ONLY Online retailers like AO who don’t have any bricks ‘n mortar presence. They reported a staggering 31% increase in sales – better even than Aldi could achieved. Admittedly much of this was in white goods rather than groceries but it still hurt the big boys efforts to diversify from groceries and household into durables. Changed shopping habits have now impacted on supermarkets just like they on markets when they introduced self-service.

The markets industry still remains predominantly cash-only and ignores the websites and plastic which fuelled the switch.

But if you’re a small retailer don’t take too much pleasure from watching ‘the biter bit’ until you’ve done your own reality check. The markets industry still remains predominantly cash-only and ignores the websites and plastic which fuelled the switch.

With over 80% of groceries and household goods sold by four companies the move online (and to those Germans) has left the big four with some very expensive property liabilities. They’ve been shelving projects and offloading poor performers sites as fast as possible but are left with the dilemma of who will buy them. The obvious purchasers are suffering as much as they are and anyway a vendor will inevitably slap a restrictive covenant on the title to prevent a competitor using it for retail. The clever money is now in redeveloping supermarket sites for housing – very much in line with government policy. The UK is OVER-provided with supermarkets but UNDER-provided with houses. Say Goodbye! to Asda and Hello! to Acacia Avenue.

Big retailers are seeking other ways to diversify and maintain profits whilst reducing their property costs

Small wonder then that big retailers are seeking other ways to diversify and maintain profits whilst reducing their property costs. Tesco tried with their new ‘Fresh ‘n Easy’ chain in the USA (which was a disaster) and still try to fill underused UK space with Harris & Hoole coffeeshops. Not that it’s had much effect – the H&H promos show suntanned South California beach babes with perfect teeth, not Tracey from the Mudford-on-Sea checkout.

Buying Argos and slotting their stores into Sainsbury units could save a lot of operational costs for both

One would-be diversifier is Mike Coupe, the dynamic new CEO of Sainsbury. He’s has been sniffing around the Home Retail Group, owners of Argos (and until recently Homebase DIY) to fill underused space in his stores. His rationale is that Argos has excellent home deliveries, a complementary offer and ‘mature’ property portfolio which would be cheap to offload. Buying Argos and slotting their stores into Sainsbury units could save a lot of operational costs for both and provide Argos ‘Click and Collect’ in Sainsbury convenience stores. Well that’s the theory anyway, but the secret is out. Home Retail shareholders are playing hard to get and have just sold off Homebase DIY to the Aussie retail group Wesfarmers to boost the share price. Mike will have to pay a lot more than he wants and seems to have cold feet. Watch this space.

After ‘Black Friday’ we had ‘Cyber-Saturday’ and now ‘Blue Monday’

And finally: the latest stupid-sounding name which no-one really understands. After ‘Black Friday’ we had ‘Cyber-Saturday’ and now ‘Blue Monday’ – the third Monday in January. This is – allegedly – the most depressing day of the year. Travel agents use it push February Citybreaks for WizzAir which sound like a steal with four romantic nights for two in Riga for £200 – flights, half-board and transfers included. Why Latvia in February? It’s perishing cold but their markets are housed in former Zeppelin airship hangars. It all seems slightly more funky than Mudford.

Unfortunately the name lives on but can be ignored by everyone in the Markets industry

‘Blue Monday’ was invented by the TV channel Sky Travel back in 2005 to drum up interest in their holiday offers but didn’t work too well. It’s owners, BSkyB closed them down after 5 years due to ‘intense internet competition’ which sounds familiar. Unfortunately the name lives on but can be ignored by everyone in the markets industry.

We already know about the kipper season – which, of course is NOT a stupid name.

RigaMarket

 

Hope you had a good Christmas. Try not to think about the kipper season.

Preliminary sales results from the big boys have been poor at best. The ‘Big Four’ supermarkets have been fighting off the Germans – Aldi and Lidl – so margins remained wafer-thin. The high street fashion retailers were hammered by unseasonably warm weather and Black Friday never really took off. Biggies like H&M and Next started their sales early (which is a bit worrying given the low rate of inflation and rising disposable incomes). Drastic discounting did not draw in the crowds as expected so when the full Christmas sales results are announced it will be interesting to see the proportion which transferred to online or simply disappeared to online competition. Amazon and Google announced amazing turnover figures for Black Friday with durables, white goods and presents only a click away. Shoppers were still seen browsing High Street shops up to Christmas Eve but more for price-comparison with online and/or to sniff out last-minute bargains. Conversion to sales seems to have been poor with many shoppers preferring to sit in front of their PC with a pile of mince pies.

Lower High Street footfall means lower Market turnover

You might have hoped this would not affect your market but I’m sorry to say that doesn’t appear to be the case. Stallholders do not have the sky-high rents and rates of a ‘bricks ‘n mortar’ high street retailer so are still able to offer real bargains BUT they remain overwhelmingly reliant on footfall. Lower high street footfall means lower market turnover which seems to have affected seasonal Christmas markets as much as weekday general markets. Meat, poultry and fruit & veg. seems to have stood up reasonably well but European traders who came to the UK in search of a strong currency and better sales turnover went home disappointed. Sales turnover on Christmas markets seems to have fallen by at least a quarter.

Those with a decent online presence have definitely held their ground

So who were the real winners? Those with a decent online presence have definitely held their ground. Those selling craft and luxury goods only have done well. My friend trained as saddlemaker in Walsall but threw in that towel to make wallets, belts, dog collars and handbags and only sells online. His sales through Etsy, Ebay, Facebook and website are better then ever. He’s not cheap but works on the theory that no girl can ever be too thin or own too many handbags or pairs of shoes. He took a big gamble and doubled his stock from July but had a cracking good Christmas since. His secrets are low overheads, adding value by product skills and selling online 24/7.

Thank heavens the markets industry is so innovative and resilient

So where does this leave the markets industry? The impact of online retailing and home delivery by DHL is as profound as the introduction of self-service supermarkets was to the corner shop. Thank heavens the markets industry is so innovative and resilient. Sadly, the Chancelllor’s Autumn statement didn’t contain any real goodies for small businesses to reinvest in and develop themselves. But it did confirm your market authority’s worst fears – a further 29% in spending cuts over the next 5 years. The easy cuts have been made already so you can anticipate services like care for the elderly taking priority. Loss-making ‘discretionary’ services like markets are in line for disposal in line with the ‘Big Society’ agenda promoted by David Cameron.

It would be interesting to know how many stallholders have half-embraced online retailing

It would be interesting to know how many Stallholders have HALF-embraced online retailing, but not the right half. Be honest with yourself and admit whether you’ve gone online because you’re too busy selling and don’t have time to sit in the carpark queue at Bluewater (6 hours) or Silverburn (3 hours). Maybe next year you should plan ahead and go online then treat yourself with a post-Christmas weekend holiday in Eastern Europe. Many of their Christmas markets stay open until the Orthodox Christmas on 6th January.

A Christmas when you don’t have to work – whoopee!

 

The Chancellor’s July budget from the all-new, all-Conservative government was disappointing for small businesses. George Osborne described it as ‘a budget for working people’ but not many were impressed. There were no new incentives for entrepreneurs or start-ups and the only rabbit he produced out of his hat was the ‘National living wage’ set at £7.20/hour from April 2016. But this was for over-25’s only with under-25’s still stuck with the lower ‘National minimum wage’. This was retained for under-25’s to ensure they can ‘secure work and gain experience’ i.e. not be priced out of the labour market. Despite this the independent Office for Budget Responsibility predicted job losses, particularly in the agricultural sector so in response George cut Corporation tax from 20% to 19% (from 2017) and increased the National Insurance ‘employment allowance’ which waives contributions from small businesses to the tune of £3,000 per annum.

Small businesses are deeply unimpressed

Research confirms small businesses are deeply unimpressed. Those in the retail sector consider this no substitute for the more, errrr…informal wage arrangements often seen in the Markets industry. They would far have preferred an increase to the Vat threshold – a very real disincentive to making the leap into Vat-registration.

The budget also contained proposals to review the old Chestnut of Sunday trading legislation

The budget also contained proposals to review the old Chestnut of Sunday trading legislation. Osborne suggested decision-making might be devolved to local Councils to support ‘bricks and mortar’ retailing versus it’s online competition. The arguments for and against are well-rehearsed – increased costs over 7-days without increased takings etc – but unfortunately his glamorous blonde colleague and Minister for Small Business, Anna Soubry MP (Con. Broxtowe, Notts.) forgot her job title before going public with the proposals. She should have consulted with a few more small business representatives before suggesting critics such as ‘Keep Sunday Special’ are “…harking back to a world that probably didn’t exist. Sunday was the most miserable day of the week”. She should, for instance have talked to the Federation of Retail Newsagents or Association of Convenience Stores. They rejected Osborne’s proposals, suggesting less than one in ten customers wanted changes. Other critics included ‘The Sun’ newspaper which – after ditching Page three’s ‘News in Briefs’ – let columnist Rod Liddle loose to sum it up nicely as ‘a wonderful excuse for me to buy yet more crap’.

Nor were the proposals well-received by two of the ‘Big four’ supermarkets. Tesco and Sainsbury own lots of Convenience store outlets which can stay open already, so don’t fancy opening expensive Supermarkets as well. Asda and Morrison though don’t have the same High Street presence so were enthusiastic. This proposal is now out for consultation so if you’d like to share your views about trading 7-days per week I’m sure Anna would like to hear from you. She can be emailed at: anna.soubry.mp@parliament.uk

What the report really highlights is a total lack of regulation in this important area

At about the same time the CMA (Competition and Markets Authority) confirmed it had found evidence supermarkets are misleading customers with price promotions – but the pricing guidelines mean the problem is more of a cockup than a conspiracy. This came after a 3-month enquiry triggered by a ‘Super complaint’ lodged by the Consumer Association magazine ’Which?’ The CMA confirmed although there was evidence of misleading pricing on the 40% of grocery sales on promotion at any one time, the problem is not widespread. Supermarkets generally take compliance with pricing seriously and the problems identified by ‘Which?’ are caused more by lack of clarity in the pricing guidelines. The CMA made some weak recommendations about price comparison data and ‘Was/Now’ promotions, where by law the period on offer of an ‘Is now’ price cannot exceed the period of the higher ‘Was then’ price. The industry-funded and entirely voluntary Retail Ombudsman suggested pricing guidelines need updating because “The problem is the current rules are merely guidelines, which present retailers with a lot of wriggle room. What the report really highlights is a total lack of regulation in this important area”. This sounds rather like the problems of food labelling and the impossibility of legislating for every possibility.

Meanwhile in the dysfunctional world of Euroland ..

Meanwhile in the dysfunctional world of Euroland the Germans played a game of blink – and lost. The unblinking Greek Prime Minister Aleksis Tsipras called the EMU’s bluff and after three (or was it four?) sets of ‘final negotiations’ agreed to some watered-down austerity measures in return for a bail-out of the Greek Euro. The Bundesbank smiled at the breakthrough through gritted teeth as the UK blocked it’s £1 billion contribution to the Euro Stabilisation Fund and City of London bankers stuck two fingers up at their rivals in Frankfurt. The Euro dropped to 72p from 97p in 2008 and although sterling is not yet back to it’s pre-financial crisis exchange rate, it is going the right way. Which is nice.

The German Chancellor reportedly arrived in Athens for the last round of emergency talks to be greeted by an officious Greek immigration officer armed with a clipboard and a list of questions: “Name?” he asked:“Angela Merkel” she replied. “Nationality?” he asked. “German” she replied. “Occupation?” he asked. “Nein – not yet” she snapped. ”First ve haf to talk……”

 

LYLM

Today is the start of the 2015 Love your Local Market Fortnight - a celebration of our market culture that happens every year in May.

1172 markets are taking part this year, putting on events all over the UK to promote all that’s best about shopping and trading at the market. LYLM is also all about entrepreneurship and since it started in 2012 the markets industry has pledged over 10,000 pitches to new traders.

It all started in 2012 amidst fears for the future of our High Streets, when the idea of a National Market Day was proposed alongside the government’s High Street Review. The idea for Love Your Local Market fortnight was born …… and four years later it is going strong.

Market day still holds a special place in the hearts of people from all walks of life

Markets have a long-standing place in the towns, cities and villages of the British Isles. They were the cornerstone of every major settlement throughout our history, with people bringing in goods to trade from surrounding settlements in order to feed themselves, but also the citizens of the conurbations they visited. Market day still holds a special place in the hearts of people from all walks of life, as a place to shop but also to socialise, meet up with acquaintances and catch up on some gossip.

Today’s markets are seeing something of a revival in fortunes

Today’s markets are seeing something of a revival in fortunes. With shoppers wary of long supply chains, emphasised in the 2013 horse meat scandal, we are turning once more to our butchers, bakers and other more traditional outlets, tempted by the assurance of provence in the goods we are buying, but also to see a friendly face and to support our local businesses. Love Your Local Market has been devised to herald the changes and to make shoppers aware of what is on offer on their doorstep.

Lead partners, The National Association of British Market Authorities (Nabma) bring nearly 100 years of experience to the campaign and are keen that this knowledge is shared with as many markets as possible. Also embracing the 21st Century the organisation runs roadshows across the country in the lead in to the campaign each year, to give market organisers ideas towards their events, and to arm them with social media advise so they can reach a new generation of shoppers.

Quarterbridge are proud to be supporting the campaign

Quarterbridge are proud to be supporting the campaign as one of the #MarketBiz15 companies featured during the LYLM fortnight. We have played an active role in promoting LYLM in many of the markets we have helped and seen first hand the positive results it delivers.

http://loveyourlocalmarket.org.uk/

The Stag and Hounds, in Bristol’s Old Market, prides itself on being one of the city’s top music pubs. It has another claim to fame that most regulars won’t know: it was home to one of England’s longest-lived Piepowder Courts.

Piepowder Courts (from the French pieds poudres, or ‘dusty feet’) were established in mediaeval times to oversee traditional markets

Piepowder Courts (from the French pieds poudres, or ‘dusty feet’) were established in mediaeval times to oversee traditional markets, dispensing summary justice to pickpockets, thieves and cheating travelling merchants. Bristol’s Piepowder Court continued to sit until 1870.

Sometimes, though, the cursory consideration of a few local dignitaries was not enough to keep the markets and fairs running smoothly. In Nottingham the city’s annual Goose Fair, a huge event that would draw crowds from across the midlands, became the scene of the famous Cheese Riot of 1766.

Thomas Bailey’s Annals of Nottinghamshire, published in 1852, describes how irate crowds ran amok after complaints that traders were overcharging for cheese, grabbing cheeses from the stalls and rolling them down the streets. ‘The mayor, whilst endeavouring to quell the disturbance, was knocked down by a cheese, hurled at him by one of the mob, and severely stunned,’ Bailey recounts.

These days the equivalent of the cheese riot is Black Friday in Tesco

I came across the story of the great cheese riot while researching my book, How to Save Our Town Centres. Since then more than one reader has suggested a re-enactment of this historic occasion. Others might argue that these days the equivalent of the cheese riot is Black Friday in Tesco, while traditional markets have become a haven of decorum.

There are other conflicts over our markets, though, that should worry us more. Some are over the cost of trading and the rents demanded by private (or local authority) owners: Brixton and Oxford have both seen disputes over rents in recent years. The closure of Sheffield’s Castle Market and its relocation to a new building on the other side of the city centre has attracted complaints that both traders and traditional customers are being priced out.

What is at stake is not just the markets themselves but the character and vitality of our town and city centres

What is at stake is not just the markets themselves but the character and vitality of our town and city centres. Go to Bury in Lancashire, home of the black pudding, and you’ll see one of the most successful traditional markets in England. Every year up to 1,500 coachloads of visitors descend on this former mill town to sample the wares at nearly 400 stalls. Market traders boast that you can get everything you need from cradle to grave. There’s even a man who’ll do your headstone.

But at the other end of town, the new Rock shopping centre is stretching Bury’s retail core, offering a glass-and-concrete panorama of Marks & Spencer and Superdry, Costa Coffee and River Island. In between, at the 1990s Mill Gate shopping centre – itself a replacement for a 1960s precinct – every other shop is a discount store and there’s an acne of ‘to let’ signs.

Planners across the UK have swallowed the myth of ‘retail-led regeneration’

Bury’s planners, it would seem, like planners across the UK, have swallowed the myth of ‘retail-led regeneration’, imagining that shiny new shopping centres will revive their towns. In the process the traditional markets are often left behind, physically distanced from the new developments and reduced to either a throwback to a bygone age or a curiosity, providing a retail diversion for people with plenty of disposable income and time on their hands.

High-end retailers concentrate their brands in prime locations and struggling locations become dominated by pound shops and charity shops

Places that used to be social levellers, providing something for everyone and where well-off and hard-up would rub shoulders and exchange banter, are now becoming socially polarised. At the same time an economic segregation is dividing successful from unsuccessful towns, as high-end retailers concentrate their brands in prime locations and struggling locations become dominated by pound shops and charity shops: a lifeline to the hard-pressed, but a signifier of failure to investors and planners.

We won’t get town centres right until we start thinking about what creates good places, not just about how retail can work better

In my book I argue that we won’t get town centres right until we start thinking about what creates good places, not just about how retail can work better. To think about placemaking demands an understanding of how places can work for everyone, not just those with money to spend. I discuss how we can create places to be, not just places to buy.

There are two ways in which we can think of ‘the market’ in that context. One is as a gathering place: a place of trade, but most of all a space for relationships and connections. I use the example of the ancient Greek agora: buying and selling was just part of the mix. It was where justice was done, athletic contests were held, children were schooled and religion was practiced. As the urban historian Lewis Mumford commented, it was ‘above all a place for palaver’.

The other way of thinking about the market is purely as an economic construct: a place where people act according to narrow financial self-interest and where value is equated only with rates of return and capital gains. This view of the market prizes and privileges development-led ‘investment’ and focuses on the big numbers of jobs generated in construction and retail without considering what is being displaced. And inevitably, the capital and revenue flows accrue to those with the wherewithal to join in a game in which the price of entry is increasingly high.

Questioning and challenging such ideas of investment is not anti-business. What it does is to highlight that there are different ways of doing business, different views of value within business communities, and different ways of envisaging what it means to thrive and prosper. How to Save Our Town Centres aims to bring some of those questions to the surface.


 

How to Save Our Town CentresHow to Save Our Town Centres is published by Policy Press and available at www.policypress.co.uk or www.urbanpollinators.co.uk. To contact Julian Dobson about workshops or speaking engagements email julian@urbanpollinators.co.uk

 

 

 

 

 

Quarterbridge would like to thank Julian Dobson for so generously contributing this article.

 

At the risk of sounding London-centric, the changing face of London markets is providing an astonishing example of how good markets successfully adapt to their constraints and circumstances.

Recently, I have been hearing success stories emanating from the East End Chatsworth Road Market in Hackney, London E5 (It used to be Clapton in my day). A traditional street market, the linear High Street includes rows of lock up shops fronted by market stalls, catering for the newly mixed demographic of different ages and ethnicities.

I speak somewhat informatively as from the age of eight, I had to work on my father’s Chatsworth Road stalls every Saturday and during school holidays in what was at the time a largely poor neighbourhood where the most exotic products to be found were Fry’sTurkish Delight bars, more accurately described as FTD – misshapes.

Chatsworth Road was of fundamental importance to the local community, selling everything from live eels to white goods

The market and fronting shops were always exceptionally busy as locals performed their daily shop and I can’t remember  there being any form of supermarket back in the late 60’s and early 70’s within walking or bus journey distance. Chatsworth Road was of fundamental importance to the local community, selling everything from live eels to white goods.

If I am honest, I feel more nostalgic now with fond memories of how life used to be and have forgotten the freezing cold winter days: flashing out at six in the morning and sweeping up at six at night, but life was straight-forward and honest and my parents earned a decent living from the market.

It appeared as though the retail core had been sucked clean out of Hackney

During the 80’s I worked as a civil engineer in London and would occasionally take a nostalgic drive to Chatsworth Road and was shocked by the desertification of the area. It appeared as though the retail core had been sucked clean out of Hackney by the supermarkets: shops were boarded up and to all intents and purposes, the market had disappeared. However, the sun now shines once more over Chatsworth Road as it has learned to provide the good folk of E5 with what they want and cannot find in the big five – multi-ethnic variety, professional service, tremendous food, cafe culture and above all, unadulterated honesty, a theme which transcends the generations.

Chatsworth Road is just one example of successful and organically developed market regeneration

Chatsworth Road is just one example of successful and organically developed market regeneration in London, of which there are many more. The notion of delivering what people want will filter through other British towns and cities, further underpinning the great British Market renaissance.

 

With thanks to I Love Markets for kind permission to use their images in this article.

 

I Love Markets celebrates London’s markets and all of the wonderful things that can be found within them. We believe that to discover the heart of London, you need to discover London’s Markets. No market is the same and we want to help you discover the unique experiences that each one has to offer. Find the latest news, markets and events at www.ilovemarkets.co.uk

Colchester market

Two years ago Quarterbridge was appointed by Colchester Borough Council to undertake a complete study of the town’s Charter Market, incorporating assessments of location and operational management, providing a complete overview and to make recommendations on how the Council could improve the market.

Key recommendations included reunification of a disjointed market and relocation to a prime footfall area

Our report delivered several recommendations, key amongst them was the reunification of the currently disjointed market and relocation to the prime footfall area of Colchester High Street. Whilst we undertake this type of report several times a year, this particular project was made that bit more interesting and was particularly close to our heart as our head office is based in Colchester.

The relocation is now proceeding with the launch of the New Charter Market in Spring

Colchester Borough Council understand the importance of the market to the town and since the presentation of our report we have worked closely with the council to assist in making our joint goals of a relocated, re-energised and much improved new Charter Market, come to fruition. Through budget allocated as part of the New Homes Bonus, the relocation is now proceeding with the launch of the New Charter Market in Spring this year. We have provided detailed on-going assistance on financial planning, the tender process for new stalls and ground anchors, trader liaison, operational documentation and guidance.

‘The new Colchester Market will create a strong focal point for the town, with a more modern feel’

Councillor Nick Barlow, Portfolio Holder for Street and Waste Services said: “Colchester has a strong market tradition and we know other towns such as Lincoln and Bury have experienced a positive impact on the reputation of their towns. The new Colchester Market will create a strong focal point for the town, with a more modern feel. The introduction of electricity will be a huge boost for existing stallholders and will allow the market to attract a wider range of stalls moving forward. These changes also unlock the potential for evening markets in the future.”

We look forward to continuing to work with the excellent team at Colchester Borough Council and enjoying the new market… right on our doorstep!

Adam Corbally motivation

I was having a weekend away in North Yorkshire last week with my family when I found out that there was a ‘local produce market’ on nearby. Now I love to visit a market anytime and see what is on offer especially whilst on holiday, so off I went to see how other people do things and what was on offer.

Great British markets truly are the original supermarkets

The weather was great, the market was packed and some of the products on offer were nothing short of amazing - best of all the market was on a Saturday and had integrated with the regular traders so you could literally get anything you wanted, proving that Great British markets truly are the original supermarkets!

I looked around to see who was manning the stall and I could see a tall lady sat on a stool with a ’50 Shades of Grey’ covering her face.

One of the first stalls I came to was a real ale stall and I put a great order in with a very knowledgeable local brewer. Next up was an art gallery. Now a lot of people would disagree with me when it comes to art as I truly believe that we are all experts in our right. When it comes to art I think that we all have our own tastes, make our own interpretations and of course, ‘beauty is in the eye of the beholder’. So, as I started to browse I did so with a very open mind and unbiased opinion, not really looking for anything in particular, then I spotted a lovely oil painting of the countryside and lifted it out for a closer look. It really was beautiful and weirdly, seemed very familiar? I looked around to see who was manning the stall and I could see a tall lady sat on a stool with a ’50 Shades of Grey’ hardback book covering her face. I presumed she must be running the stall so I said, “excuse me, are these your paintings?” She lowered her book and replied, “yes” before raising it back up in front of her face! There were no prices in sight and the lady made me literally feel like I was interrupting. So, I walked away and had a look around the other stalls, chatted to traders, soaked up the atmosphere, loving the banter and filling my boots with everything from giant loom band sets for the kids to home-made sausages, spending a good couple of hours enjoying the full shopping experience you can only get on a market.

She still hadn’t mentioned the price which was nowhere to be seen

As I was leaving, I walked back the same way I had come and noticed the lady with the art who had been reading the book was packing away early, so I asked her the question, “quiet day today?” “yes”, she replied, “waste of time really, only sold one, not even took my rent!” I asked her about the landscape picture again and pretty much had to force her into a conversation if I am totally honest. It turned out that she had painted all of the pieces herself and that the one I had liked was of Holm Firth, the home of Last of the Summer Wine and 20 minutes from my home town, although she still hadn’t mentioned the price which was nowhere to be seen! So I asked her, she told me and this master piece now hangs proudly in my kitchen and is probably the best £25 I have ever spent, with a great story behind it.

On her return I was chatting away with customers and had already sold two paintings.

I then asked the trader what her background was and she said she had always worked in admin although was trying to get her dream of being a successful painter off the ground. I asked if she wanted to be a book critic or an artist? She looked confused so I asked her WHY she had bought the book she was reading earlier? She still looked confused although she went on to explain that she saw the book in a book shop, read the summary on the back of the book at which stage the lady in the shop said it was a great read. “THERE YOU GO” I said. Finally, the penny dropped with the lady and after chatting with her I persuaded her to stay a little longer and go and get the brews in whilst I looked after the stall. She was concerned about my knowledge of art as the café was quite far away although I reassured her I would be fine. On her return I was chatting away with customers and had already sold two paintings.

There are no secrets out there, it’s just a case of talking to your customers and letting them know you care!

The lady was so grateful it was unreal and asked “what is your secret?” The truth is, there are no secrets out there, it’s just a case of talking to your customers and letting them know you care! 

Of course there are a lot more tips to being good at sales, but talking to people is crucial and a great start. As I said at the beginning of this column, our markets are the original supermarkets and please, please let’s not forget what makes us better than the supermarkets: having great product knowledge and the ability to communicate with our customers! 

All good relationships are built on great communication. Happy trading.

Keep in touch,

Adam Corbally


 

Adam Corbally is a professional guest speaker, motivational coach, and serial entrepreneur, managing a series of successful businesses and brands in the UK.

Adam’s appearances on a number of T.V. shows has helped make him a well-known public figure.

Adam found his own way in life, learning as he went, quickly carving himself out a serious career as a businessman, he is now in the position to pass on that knowledge.

His fun-loving, approachable nature helped make his early venture an instant hit. Eager to build on his commercial knowledge and skills, Adam sought out business leaders and mentors who could help him develop his knowledge.

This training helped Adam realise that, armed with solid business fundamentals, he could apply his positive approach to other walks of life and enjoy similar success. The growth of his wholesale operation, veg-box delivery service, and property business are testament to this philosophy.

Adam’s unconventional route to commercial success is a popular topic at his professional speaking events, conferences, schools, colleges and universities. With Adam, what you see is what you get. He’s the same infectiously positive, open, and unashamedly outspoken. 

www.adamcorbally.co.uk

@Theadamcorbally


unit to let

Quarterbridge Commercial Director, Hayden Ferriby gives you his top tips for successfully letting market units.

 

Letting units in any market hall can be very tough going, regardless of the location. As with all property lettings, there are key points to follow to ensure presentation is excellent to attract the perfect business to your market.

The appearance – sell the vision

It goes without saying that high levels of cleanliness and maintenance should be upheld within your market; make sure the unit you wish to let is the same. Remember, you are selling a prospective business their new home – not everyone has the foresight to imagine how a unit could look when occupied, and not just how it looks as an empty shell.

 

  • An unused unit is a magnet for children’s rides, rubbish and other tenants’ old stock – make sure it is kept clear, clean and presentable
  • Undertake minor repairs – small, simple fixes can make the world of difference Make sure the unit number is visible
  • Turn the lights on, ensuring all the bulbs work!

If there is any equipment being let with the unit (coldroom, serve-over counters, for example), check they are fully functioning, are odour free and clean. Ideally, ensure they are serviced and the service history is up-to-date. This will make life much easier for the incoming tenant.

Advertising – find the right tenant

Gone are the days that passive advertising alone will find you the perfect business for your market. These days, market managers need to go out knocking on doors to attract the best businesses – though luckily there are ways of doing this ‘virtually’ to save both your time and shoe leather.

 

  • Decide on the user clauses you wish to attract to your market – set yourself a goal and don’t just accept the first business that comes along. Prepare to be flexible though – you never know when someone will come up with a completely different idea that will be perfect for you.
  • Use social media to advertise for new businesses. It is free, easy to use and wide reaching across age ranges, demographics and geographical areas.
  • Facebook advertising is cheap, easy to control and simple to use. This can help you reach out to thousands of people for very small outlay.
  • Use internet search engines to source contact information for local and regional businesses that fit your user clause aspirations. Write to them all, showing how your market would be the perfect home for them. If possible, include some well-taken photos of the unit and the market hall. Describe the fantastic environment they will be joining and sing the praises of the events you run. Remember to follow up with an email or letter.

And very importantly… make sure you put a big, bold To Let board up in the unit with the correct contact information on!

The process – keep it simple

Once you’ve found the perfect business to fill your empty unit, you need to take them through the lettings process. You will need to advise them on whether they are signing a lease or licence, what documents they need to provide, deposits to make and how long the process will take. Even if you have gone through the process hundreds of times and it seems simple to you, remember this will be an exciting but probably anxious time for the applicant so explain everything clearly and make them feel at ease throughout. Having worked with many markets across the UK, we know that the lettings process varies from one market to another with some markets even including elements such as approval of an applicant by all existing market traders. Whatever your lettings process, ensure it is as seamless as possible by adopting the following points:

 

  • Simplify the process as much as possible.
  • Make a step-by-step applicant’s guide to the process.
  • Include an explanation of key phrases such as ‘licence’ or ‘service charge’ – this is especially useful when dealing with start-up businesses.
  • Keep in regular contact with the applicant and let them know how their application is progressing.