Rarely do I see a business article use data with such clarity & insight
This surprisingly well written business article (esp for Canadian publication) supports oft-ignored lessons about Market Assessment; your boss will want to know 1. category size; 2. category growth,; 3. factors influencing growth and also 4. competitive SWOT’s. The data/ considerations should look out a few years.
Given the need for a ‘future focus”, many ppl may assume the Conventions/ Tourism Biz should be consumed about airbnb data. Not so fast. Despite the popular media’s focus on casual shared accommodation, the reality is that Bed & Breakfasts & airbnb-type accommodations don’t influence a location most meeting managers would select for a convention; what DOES influence it is a city’s perceived safety, transport & services infrastructure, entertainment options, meeting halls/ convention centres – and the capacity & service level of legitimate inns & hotels. And Toronto isn’t faring well on that front.
There are some extremely relevant figures here – on prices & capacity/ market. The Convention Biz is big- with big ripples to all aspects of a city’s economy. The data seems to indicate Toronto has an uphill climb to continue to be a ‘world class’ convention site. This Biz Category invites a market share fight as would any big category; I hope Mayor Tory takes time from ‘detail management’ to review this Big Picture opportunity – and to strategize/ invest accordingly.
In his favour? Mayor Tory’s business background, and his common sense actions to ease road traffic congestion on major routes.
Discouraging signs? A still-woeful regional transit ‘system’; a myopic decision to spend billions of taxpayer $ to BYPASS a borough with a subway; a brutal lack of accountability on transit car supply; road construction contracts that still seem to still be poorly written, unenforced, or both (youre hereby invited to play: “Let’s see if any work is done in the closed lanes of Hwy427 today!”)
Posted in Uncategorised
Tagged airbnb, convention, GTA, hotel, infrastructure, Mayor Tory, Stevenlitt, strategy steven, Toronto, tourism, Traffic
A fine new list is out, reminding me how promising Convenience Stores (‘C-Stores’) are as a distribution partner, notably for:
- impulse-oriented items (snacks, gift cards, etc)
- off-hours purchases
- on-the-run commuter items (water, antifreeze, sunglasses)
- cottager or vacationer items (last-minute HABA items**, bug repellent)
- addiction-oriented fill-in purchases (caffeine, smokes, lighters, energy drinks, soda,…)
The 1st new promotion I brought to P&G Canada was to suggest P&G try a first-ever C-Store display event (Kudos to SalesMerch colleagues JFM & MattG!) targeting summer cottagers en-route, or at point of destination. Within P&G, we referred to it a the “Small-Size” event; the name understates the importance of these comparatively ‘low volume’ events.
- Although the event wasn’t just about making profit, it was nicely profitable (small sizes typically being the most profitable sizes!).
- It was strategic, preventing OUR customers (Crest, Scope, Always, Pampers buyers) from leaving our brand due to a temporary shortage. Holding loyalty before that was much of a revered idea elsewhere.
[side note: A big tip of the hat to the “crazy risk-takers” in the Sales Merch Dept who creatively massaged a way through P&G’s conundrum-creating criteria #2. ie It wasn’t hard to prove it’d pass #1. “On Strategy” nor #3. “Profitable”; the dilemma for entrepreneurish staff was showing an idea is already #2.”Proven” – when it has never been done before!]
C-Stores’ potential goes WAY beyond selling gas, lottery tickets, tobacco, rolling papers, Doritos. I worked in one for years & respect their resilience; when grocery stores added late-night hours, C-stores profited by selling lottery tickets. By the time grocery stores started selling lottery tickets, C-Stores had significantly upgraded their self-serve coffee & brought in lines of 24/7 RTE fresh prepared meals. Now, some C-Stores sell fine-quality fresh-cut flowers. And other- get ready for it- sushi!
So don’t count’em out. C-Stores are wiley; they’re flexible; they’re open-minded to make a buck. And they might be your next distribution partner!
The Top 100 USA list is here: https://csnews.com/top-100-convenience-store-chains-2018