The Queen Victoria Market is reflective of many FMCG markets because it is a competitive and congested space with multiple vendors offering near identical products at near identical prices. Vendors have the same physical space to use and simialr opening hours and traffic levels, yet some stalls are still more successful than others. What then, can marketers learn from markets?

It can be wall to wall foot traffic in the market aisles, so while supermarkets are somewhat capable of directing customers from produce to deli to processed foods to checkout, the routes customers take through a market or shopping mall are not necessarily the ordered lines of the aisles and stores themselves. Having a location right at the entrance may mean your store is the first one visited, but not necessarily the first store purchased from.

Some market stalls have an advantage by being on the end of an aisle or being closer to a crowd-grabbing attraction (such as the Donut van!), but like retail it is all about converting foot traffic to paying customers.

Deep in the aisles of the market, foot traffic is slowed to a shuffle so vendors have more time to pitch, yet stalls on both sides and customers blocking the merchandise can reduce customer attention. Marketers should therefore actively influence how customers enter and move within the retail area. Many retail stores also struggle to attract closer attention and foot traffic within their stores, but this can be improved by looking at what is on display in the windows and where the staff members are located.

At the market, apparel stalls such as T-shirt, leather and sports merchandisers use all the vertical space of their allotted stall to advertise their wares and create interest in their stall as customers approach. Priming customers to be aware of one’s goods before they get to the stall is potentially persuasive, much like Darrel Lea and Subway’s use of product scent.

Stalls that border right onto the footpath separate the stall holder and customer, but do enhance the product on display, a useful trait for items like jewellery, toys and other items that lend themselves to handling and sampling. By contrast, other stalls are set up as ‘shops’, with an entrance and a layout that encourages customers to step in and walk around the merchandise. The downside of this format is that some customers may not want to ‘commit’ to walking into a stall space; equally they may feel intimidated by a space with the stall holder watching them like a hawk.

This can easily be transferred to a retail setting. Is your retail space inviting to customers, or intimidating? Having a staff member right at the entrance can be an asset if the staff is friendly and helpful, having the register at the back of the retail space subconsciously suggests that customers can walk in and look around but leave without a ‘death-glare’ from the sales staff if they choose not to purchase anything. A more relaxed space could lend itself to relaxed customers and more sales, but increased susceptibility to theft is also an issue.

Retailers must find the right balance between putting merchandise in their windows, and leaving some space for customers to see an inviting space. If the shop window can only accommodate three mannequins for example, leaving it open and drawing customers in to see the merchandise may be a better option that displaying three outfits, which if they do not appeal to customers, will act as a cue that there is nothing else of interest located within.

The best stalls at the market, despite very limited space, display their merchandise in a way that shows how it may be consumed or used, and unlike most retailers, the merchandise is able to be sampled. Hat stalls have mannequin heads that show how the hats sit, mirrors are set up to allow viewing of how clothing fits, toys are making noise and moving around, and fruit and produce is laid out on platters to be sampled and admired. The best stalls have everything out on display ready to sell and be taken away, customers don’t want to wait while sellers ‘check out the back’ or order something in. It is market exchange in its purest form.

I think all retailers and service providers could think of ways to communicate the benefits of their offering to their potential customers through a sampling, demonstration or tangible cue. Supermarkets can have samples of produce and in store cooking demos, a mobile dog wash can drive to a busy park and give a few freebies, the only real limitation is imagination and effort.