WUWM Conference, “Market Modernization”

23 - 27 October 2017
Melbourne and Sydney, Australia

Executive summary:

During the WUWM Conference in Melbourne and Sydney experts discussed the importance of customer insights for innovation in wholesale and retail markets. Attendants also discussed the latest market trends, including the significant increase in online spending, more city dwellers, and changing customer behavior. Experts underlined that customers are becoming more demanding and erratic. Furthermore, the conference discussed current industry challenges, such as the increase in demand for grocery delivery at home and the increase of fresh food-to-go. Attendants also highlighted the responsibility wholesale and retail markets have in providing products that are environmentally friendly and have Fairtrade certification.

The key outcomes of this meeting are:

  1. Store associates indicate that younger consumers are more important for innovative trends compared to older shoppers. Human interaction is critical for innovation, R&D is not where most successful innovation starts. “About 85% of successful new ventures are based on marketing insights into customers.” (Source: Colin McLeod, Professor in the Faculty of Business & Economics at the University of Melbourne at the WUWM Conference October 2017)
  2. Market trends include:
    1. City dwellers are on the increase
    2. Online spending will reach 40% in 10 years
    3. Consumers suffer from D.U.E. behavior
      1. Demanding
      2. Unskilled
      3. Erratic
  3. A truly iconic market:
    1. Combines relevant placemaking and added services
    2. Stands for the environment and Fairtrade
    3. Plays a key role in regional economy and culture
    4. Is a responsible partner and benchmark
    5. Is top of mind, top of heart and here to stay
  4. Challenges to current produce and wholesale markets
    1. The grocery industry is in the midst of accelerated disruptive change, with fresh foods in a slower lane
    2. Lack of trust in supermarket retailers to deliver quality fresh produce to home presents a huge opportunity. Back to the future with a local boy on the delivery bike
    3. Supermarkets losing share to other routes to consumer
    4. New customers (e.g. recipe box, natural snack, baby food, smoothies) seek produce experts for fresh and frozen products
    5. Fresh food-to-go expanding fast worldwide
    6. Wheel has turned – extraordinary opportunities for forward-thinking fresh food centers of excellence

Main issues discussed:

  • The changing world and the changing business of markets
    • Colin McLeod, Professor in the Faculty of Business & Economics at the University of Melbourne, Melbourne Business School, Australia
  • Historic marketplaces and urban regeneration
    • Donald Hyslop, Chair of Trustees, Borough Markets, London’s oldest food market
  • Disruption in The Chain; Changes & Chances from Farm to Fork Speaker
    • René Van Gool, owner, VGA (Van Gool Advies) Den Haag, Netherlands
  • Lessons in preserving local character while modernizing a marketplace
    • John Turnbull, Director of Asset Management and Development, The Pike Place Market Preservation and Development Authority (PDA) in Seattle, Washington USA
  • Queen Victoria Market’s renewal program within the context of a changing city
    • Joanne Wandel, Queen Victoria Market Precinct Renewal Program Director (City of Melbourne)
  • Not only maintaining, but strengthening, the role of wholesale and retail markets in the fresh food system
    • Donald Hyslop, René Van Gool, John Turnbull & Joanne Wandel
  • New routes to the consumer for fresh produce
    • David Hughes, Emeritus Professor of Food and Marketing at Imperial College London and, Visiting Professor at the Royal Agricultural University, U.K.
  • Landlord and tenant collaboration
    • Anthony Di Pietro, Group CEO, LaManna Premier Group, Melbourne 0
  • Accelerating supply chain speed
    • Rebecca Burrows, General Manager Small Business, Australia Post
  • Diversity in your management team and decision-making processes
    • Jacinta Carboon, CEO Squareweave
  • Are markets ready for the circular economy?
    • Joan Ko, Environment & Sustainability Leader, Arup
  • Developing the business case for moving the Markets
    • Brad Latham, Chief Executive Officer, Sydney Markets Limited
  • Evolving a traditional marketplace for future generations
    • Fiona Whitworth, General Manager- Strategy and Operations, Queen Victoria Market
  • More than moving a Market
    • Mark Maskiell, CEO, Melbourne Market Authority, Australia
  • Leveraging investments in infrastructure to improve operations and efficiencies for both tenants and landlords with respect to markets being organic, evolving communities as opposed to simply fixed assets
    • Brad Latham, Fiona Whitworth & Mark Maskiell
  • Marketing & logistics of agricultural products
    • Dr Hong Lan
  • Digital disrupting traditional markets
    • Gareth Jude, Retail Industry Executive, Telstra
Path Copy 7