Latest / Best of Business / Carolyn Young: Retail NZ Chief Executive on the calls for small towns to ditch the 9-5 retail model

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Carolyn Young: Retail NZ Chief Executive on the calls for small towns to ditch the 9-5 retail model · Best of Business

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  Speaker 2: More calls today for regional New Zealand to ditch the
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  Speaker 2: traditional nine to five retail model. This story originally came,
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  Speaker 2: you remember, from the Napier business leader who says the
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  Speaker 2: CBD there becomes a ghost town as soon as the
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  Speaker 2: shops shut up at five o'clock. Now more towns are
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  Speaker 2: having this debate, so are our smaller centers stuck in
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  Speaker 2: the past. Retail and z AND CEO Carolyn Young is
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  Speaker 2: with me Hi Carolyn kiderin how are you really good?
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  Speaker 2: Thank you? With basic question, would businesses not open if
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  Speaker 2: there were customers to serve?
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  Speaker 3: Absolutely? Look, I think most businesses are in the process
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  Speaker 3: of evaluating their data on an ongoing basis. They're working
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  Speaker 3: out the foot traffic that's coming past, and they get
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  Speaker 3: data feed into them from that they can see where,
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  Speaker 3: when and where their sales are taking place through their
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  Speaker 3: point of so, so they'll be able to tell whether
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  Speaker 3: or not they've got people coming in first thing in
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  Speaker 3: the morning or last thing at night, and you know,
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  Speaker 3: adjusting their time frames according man in terms when they're
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  Speaker 3: open and closed. Consumer demand is what should drive your
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  Speaker 3: opening hours, obviously, alongside any other restrictions there might be
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  Speaker 3: depending on the sort of business that you own. But
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  Speaker 3: you know, consumers are going to want to come in
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  Speaker 3: at a time when it's convenient to them, and being
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  Speaker 3: open when they're available is important.
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  Speaker 2: Yeah, because I guess the thing is for tourism especially,
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  Speaker 2: you've got people coming here who might be used to
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  Speaker 2: shops being opened a little bit later. Is there any
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  Speaker 2: truth to this idea that if you have multiple shops
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  Speaker 2: open then it creates a bit of a vibe. People
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  Speaker 2: know it's happening and they will actually, you know, build
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  Speaker 2: it and they'll come open and they'll come.
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  Speaker 3: Yeah. Absolutely. If you for example, if you work in
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  Speaker 3: a mall, all of the stores in the mall are
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  Speaker 3: open till the same time. So everyone knows that the
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  Speaker 3: new Market Westfield, moll and Auckland is open till seven
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  Speaker 3: o'clock at night, so everyone knows they can go there
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  Speaker 3: for a couple of hours after work. Now, in a
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  Speaker 3: high street environment, the stores aren't regulated like that, you know,
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  Speaker 3: so some stores might close at five, so might be
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  Speaker 3: at the five, someone might be at six or later.
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  Speaker 3: And if you've got a number of stores around you
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  Speaker 3: that are open later, people will come because they know
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  Speaker 3: that they can call into that store at a time
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  Speaker 3: that suits them after work. But if there's only one store,
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  Speaker 3: you know that store is probably pretty quiet. So you know,
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  Speaker 3: if you've got neighboring businesses, it's about getting alongside your
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  Speaker 3: neighboring business and saying, hey, you know, do you want
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  Speaker 3: to try opening a little bit later, seeing if we
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  Speaker 3: can create a bit of energy and enthusiasms for people
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  Speaker 3: to be coming in the stores afterwards, or alternatively, you know,
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  Speaker 3: what are you doing in the weekends, or you know
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  Speaker 3: what time are you opening in the morning. If you've
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  Speaker 3: got a few more stores doing the same thing, it
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  Speaker 3: just you know, it does, as you say, create a
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  Speaker 3: bit of a buzz and a bit of a vibe.
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  Speaker 2: Carolyn, thank you for that, Carolyn Young retaillingsid CEO. Time
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  Speaker 2: has just gone thirteen after four. We'd love to know
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  Speaker 2: what you think about that one. I just think if
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  Speaker 2: a business, who better to know whether there would be
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  Speaker 2: customers visiting a store than the business itself, And if
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  Speaker 2: the businesses itself knew that there were customers going to visit,
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  Speaker 2: they would simply open I don't know. I think the
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  Speaker 2: whole thing's a bit weird.
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