Eastleigh Market Proposal

APPENDIX 1

Eastleigh Market Proposal

Written by:

Sally Williams
Managing Director
Retail Revival Ltd

1. Introduction
   
2. This report has been written by Sally Williams, Retail Revival (RR) for Eastleigh Borough Council. It proposes some actions designed to overcome issues affecting the profitability and economic growth of the market in Eastleigh, Hants.

1.2.The report is not comprehensive nor the result of extensive research; instead it uses some secondary and primary evidence develop option for the future of the market.

1.3.The report begins to answer the following questions:

• What market segments are most likely to use Eastleigh Market?
• What do people want and need from Eastleigh Market?
• How can the market meet these needs and wants?
• How will people know that the market can meet their needs?
  

1. Shopping Segmentation

2.1.A market segment is an identifiable group of people sharing one or more characteristic in an otherwise homogenousmarket. It is possible to segment a market in a number of ways – age, gender, income etc.

2.2.Eastleighcannot be ‘all things to all people’; the first step to successful marketing is determining which market segments are more likely to use Eastleigh the town, and in particular the market, than others.

2.3.Eastleigh is close to other large and competing towns including Winchester and Southampton. Anecdotal research shows that Eastleigh is a town with comparatively affordable housing with new and older housing stock and it therefore attracts young families and professionals on the early rungs of the housing ladder.

2.4.Further anecdotal research shows that as a traditional market town regular shoppers in Eastleigh include elderly people and less mobile residents. Young families, older people and immigrant workers have less capacity to be adventurous; they enjoy budget shopping and shop frequently with small value basket transactions. It could be said that Eastleigh has a strong degree of self-containment and is therefore ideally positioned to enjoy a robust and successful market.

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1. Visitor Segmentation
   
2. A visitor is‘somebody spending three hours or more away from home where the visit is not undertaken on a regular basis’[1]. Visitors have many motivations for visiting a market town, they include:

• Leisure: Culture, Food and Drink, Festivals and Events, Attractions, Adventure, Wildlife and markets
• Business: conferences, meetings, exhibitions, trade shows, training courses and any other business travel

3.2.The table below shows that the majority of visitors to the South East region come from within the South East, London and the South West region.

3.3.Any conclusions made about the visitor segments most likely to use Eastleigh will be made as a result of analysing regional and sub-regional research.The town has one of the most popular visitor attractions in the region; though not based in the town centre, Itchen Valley Country Park attracted 235k visitors in 2009 and some of these visitors could be attracted to make link visits to the town centre if the offer was strong enough. Eastleigh also has The Point arts centre, numerous cultural opportunities, a museum and a programme of events, all which attract visitors to varying degrees.

1. Market Segment Needs

4.1.In order to target a market segment it helps if a town has a Unique Selling Point (USP) or niche offer. Leisure tourists in particular will be attracted by something that is distinctive about Eastleigh and sets it apart from the competition. Grand aspirations are all well and good but the potential for a town centre’s economy will be largely determined by its current function, size and location.

4.2.Eastleigh needs to identify and focus on its own distinctive characteristics and use them to attract pertinent market segments.Looking at the town centre and the retail offer it can be seen that Eastleigh is well placed to cater for the middle market. The town is neat, well designed with copious parking and green space. The shops are affordable comprising national chain stores, well-presented charity shops and slightly traditional independent shops selling a range of products from pet products to walking gear. There doesn’t appear to be a gap in the market for a traditional weekly market, the shops appear to cater all week for the dwindling market segment that is still attracted to conventional charter markets.

4.3.Retail Revival recently completed an on street survey in Surrey to identify if and how shoppers would use a revived charter market. The majority of those surveyed believed that markets had ‘had their day’ and they preferred to shop in warm and comfortable surroundings in budget shops and supermarkets or use the internet for large basket transactions. Some stalls however did still attract people to markets, a high proportion of the men surveyed said they really enjoyed browsing tool and golf stalls and 45% of respondents said they would travel for up to 10 miles to visit an excellent plant stall in season. Fruit and Veg stalls were still considered affordable and 60% of respondents enjoyed a series of speciality markets that had been laid on for them at Christmas and Easter. Other popular stalls included those offering a cost effective niche including material and craft stalls, stalls selling scarves, bakery products and household items that were unique and well priced. Images of similar successful stalls from Bury St Edmunds and St Albans markets are provided below.

Experience shows that Eastleigh town centre events like the Christmas lights switch on event and Fun Day Friday events attract high volumes of people. Cost is a consideration, families enjoy free and competitively priced activities that offer children new experiences; short bursts of activity andsouvenirsor something they have created to take home with them.

4.4.Further research should be carried out alongside the proposed offer to explore further to how the local population will use a revived market in Eastleigh. A shopper’s survey, to establish exactly who currently uses Eastleigh for shopping would help inform the future direction and market positioning of the market. This is being carried out as part of a retail study recently commissioned by the Economic Development Team.

1. Communications

5.1.In order for Eastleigh Market to sell itself and the services and products within it as successfully as possible, it is important to assess the offer it is making to its target market. It needs to be providing the right product or service at the right price or quality in the right place and at the right time and promoting this in the right way. In other words it is essential to get the correct marketing mix with the following four main elements: Product, Price, Place and Promotion.

5.2.To attract users and reach shoppers and potential stallholders, Eastleigh needs to raise awareness of the market and the activities and services within it by communicating extensively. A designated market website provides sellers and buyers with the opportunity to engage easily, a list of sellers conditions and prices with an application pack and online application form is essential. Shoppers need to understand at a glance what is coming up and how they can plan their day to include the market in the future. A communications plan will help those promoting Eastleigh Market to:

• Prioritise market segments
• Determine the communication objectives and the key messages that need to be delivered to these segments
• List effective communication techniques for each segment and complete an audit of those already used
• Allocate budget and responsibilities for communication
• Design a communications calendar to prevent duplication or gaps in communication activity

5.3.Currently the market features on at least two websites, the BID website and the Council website. Both provide limited information, the BID description possibly oversells the market. The market is is currently described as a vibrant and busy market, this is not the description used by shoppers to the town centre in 2015.

5.4.A market’s brand is important and it begins with a consistent logo and strap line. Images used to promote the market need to be carefully selected to emphasise the brand. The market needs to build a professionally constructed image bank with pictures of activities and people as well as landmarks and buildings. Trader profiles, enliven a website, recipes that can be cooked and crafts that can be made using the products sold in the market would inspire people to visit and interact with market social media. The Bury St Edmunds market website below does just this.

1. Recommendations

The following section provides four broad recommendations for future activity.These recommendations.

Recommendation 1: Quantify existing, and carry out further, market research to determine the future use of Eastleigh market.

Much research has been carried out in Eastleigh to inform future market intervention including a public consultation. These recommendations should be developed further in light of this.

Recommendation 2: Use research to identify 4 realistic niches and deliver a programme of themed weekly Saturday markets aimed at these specific niches

If the term niche is accepted as ‘making a specialist offer’ then Eastleighmarket needs to define pertinent and realistic market niches to experience less competition along the way.

A niche does not have to be cultural, high-brow or innovative; this report has identified the following potential niches for Eastleigh Market:

Model One: A market for bargain hunters
Eastleigh has a high proportion of charity shops and this could be presented as a strength; the majority of the local charity shops are very well presented and products are very realistically priced. The town has some wealthy people and therefore the quality of goods found in local charity shops is often high. The town also has Allington Lane Boot Sale nearby so already a niche is developing to attract people who enjoy buying and selling second hand products.

When selling second hand goods the marketing terminology can be modified to position the event/location in the market. Car Boot Sales and Jumble Sales are for the very lower end of the price point, bric-a-brac markets move to mid lower price point, general auctions, collectors and vintage sales target those interested in culture, fashion and interior décor and antique sales are usually the highest priced products.

It is recommended that each charity shop is engaged to provide one really good stall for the market every month on a Saturday. Other vintage traders could be targeted to sell from the market, including a vintage cake stall and old-fashioned ice cream seller for authenticity. Entertainment could include a pianist or small singing group.

‘Recycling’ could be used in promotional material as it is topical and ethical.

Model One: Marketing Mix
Eastleigh is a Mecca for bargain hunters. With twelve top quality charity shops, a large Car Boot Sale nearby and now a bric-a-brac market it is the place to find hidden treasure and branded goods at rock bottom prices. The town has a range of pubs and restaurants for you to use to enjoy as you take a break from the bargain trail.
Product – Quality second hand and vintage goods at bargain prices; small items of furniture, clothing, collectibles, records, books, games and toys
Place – Hampshire Market Town
Price – Cheap prices for practically new goods with often high street and designer names
Promotion – Leaflets, Word of Mouth, Website, Social Media, direct mail to target new traders

Model Two: A market for Families
Shopping is not a great attractor for families with young children nor is travelling long distances. Instead they are looking for weekend and after school activities which are popular, low cost and child friendly. To attract families to the market there is an opportunity to present a regular programme of themed family markets. The themes could include pirate and princess days, woodland creatures, craft days etc and could include story-telling, face painting, mini makeovers, treasure hunts, costumed characters, craft activities and children’s entertainers. Traders selling new and secondhand toys, games, clothing would join existing market stalls and there would be a bouncy castle, and small fair rides. Food stalls could design creative children’s menus and improved accessibility provided with parking spacesfor prams and buggies.

Model Two Marketing Mix
Why not bring your family to Eastleigh market? The market square sits aside a park with alarge play area and is safe and ideal for children of all ages; the town has a wide range of cafes with fun and healthy menus.
Product – Family entertainment and linked children’s themed events
Place – Leisure and parks, children’s activities
Price – Value for Money
Promotion – Word of mouth, customers returning, school promotions

Model Three: A market for the community
Eastleigh has many community organisations all of which have demonstrated a need to raise funding for their activities. By providing them with subsidised sales space in Eastleigh marketone Saturday every month a volume of stalls is ensured and also their stakeholders and beneficiaries are involved and would visit the market to support them.

Monthly and themed community markets would be run by community groups clustered together by type; sports groups would provide sporting ‘have-a-go’ taster sessions to shoppers and also run stalls to raise funds, the WI would have cakes stalls, allotment and community farm growers could sell their surplus (for charity), groups could run tombolas and fete style activities.

Model Three: marketing mix
Calling all community groups; Eastleigh market plays host to the monthly ‘village fete’ where charities and groups can run a subsidised stall to promote activities and raise funding for their community activities.

Come and enjoy sporting taster sessions, play traditional games and browse the community stalls, which will join the existing market stalls to provide gifts, food and household essentials.
Product – A community fete with games and stalls
Place – Eastleigh Market
Price – Value for money
Promotion – customers returning, community and stakeholder word of mouth promotions, social media

Model Four: Start-up Business Market
Calling all entrepreneurs – are you looking to sell your homemade or unique products and services in a bustling marketplace? This is your opportunity to test trade once a month supported by our extensive marketing and market place promotion. This market would attract home workers, crafters and student businesses and also provide space to established traders selling craft materials, art and hobby supplies.

Model Four: Marketing Mix

Pick up something handmade or original and look at the range of services we have to offer in Eastleigh brought to you by new and emerging entrepreneurs.
Product –unique, handmade or craft related products join the existing market traders
Place – Eastleigh market
Price – a variety of price points; but traders have less overheads and are able to negotiate
Promotion – Word of mouth, social media, customers returning, media advertising, direct marketing, enterprise centres, job centres, colleges and schools

Recommendation 3: Develop a marketing strategy to promote and deliver the market programme to prevent duplication of activity, maximise available resources and ensure community engagement

In order to implement a marketing strategy consistently it is important to audit the activities of all potential stakeholders. These include residents, community groups, business owners, local authorities, BID partnership, any tourism and town sub partnerships and other sub regional partnerships.

It is recommended that in order to prevent duplication of activity and to maximize any budgets available the following information should be collated:

• Who is involved with marketing the town and shaping the market?
• Who has a budget for inward investment and business improvement in Eastleigh town centre?
• What activities are they carrying out?
• What is their budget?
• What special skills do they have?
• What gaps and overlaps exist in the marketing plan?

Recommendation 4: Harness social capacity to deliver and promote the market in the long term

If the recommended pilot programme of weekly markets is successful it is recommended that local stakeholders from each target niche (the community and third sector, charity shops, schools and youth groups and new entrepreneurs)are empowered to form a market committee and hold an unpaid management and promotional role. They will have a direct interest in at least one of the themed markets every month making their commitment manageable but essential for continuity.

Budget

The following table provides item headings and costs for the delivery of 8 specialist markets, two of each kind, over two months in 2015. This is proposed as a pilot programme leading to a sustainable option if successful.

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