‘Study tours’ recommended: Global tip for retail’s future

By John Van Klaveren
GEELONG could expect to be left behind if it failed to make a “knowledge investment” in its central retail area, according to a Deakin University expert.
International retail industry specialist Steve Ogden-Barnes recommended study tours of similar retail precincts overseas.
“Geelong should seek inspiration from international waterfront central activities areas,” he said.
Mr Ogden-Barnes will present a Getting Retail Right seminar as part of a Survive and Thrive business advice series next week.
“We need to ask who is in a similar situation in other countries and then reach out to those people and seek inspiration. There are areas like Vancouver and the Bayside precinct in Los Angeles that have reinvented themselves.
“We need to go on a waterfront retail study tour and talk to places that have gone through it. Send a delegation to some waterfront economies and see how they do it.
“Every other business sector sends people overseas to see what is going on.
“Corporate retail precincts need investment and, although I may be doing a disservice to those involved, I don’t see much of that happening.
“Geelong can expect to be left behind if it does not make a knowledge investment in its central area.”
Mr Ogden-Barnes said central retailers needed to band together rather than operate as individual competing businesses.
“It seems there’s a lack of a united voice and plan among the retailers, with some even fighting the central Geelong marketing extra rate.
“Retailers in the central area should take a strategic view as a team of central retailers, not as a group of independent traders in a battlefield.
“But if Geelong simply does more of the same, it is in danger.”
Mr Ogden-Barnes said retailers often had no qualifications or technical skills in areas such as merchandise management and marketing.
“Retailers can invest in their own businesses by upskilling.
“The functional transactional approach needs to be replaced with something more dynamic.”
Geelong Chamber of Com-merce’s Survive and Thrive program will continue on Tuesday at Deakin’s Geelong Waterfront campus.