Federation Square turns 10 today, but some traders there say it has been tough attracting business over the years and that the precinct struggles to convert visitors into customers.

Although the area is entrenched as a Melbourne landmark — and had an estimated 10 million visitors last year — retailers at Federation Square said they were often asked for directions by visitors, and that it was difficult luring the big crowds that attended for events to stay longer.

Black hole ... 'Federation Square can be unforgiving, but then very generous. That's the nature of the space.' Credit:Luis Enrique Ascui

"It can be a cracking day and there's no one here. Often some of our best days are wet days when people need to get indoors," said Rodney Stevens, the duty manager of Beer Deluxe, which incorporates a bar, restaurant and hamburger stall.

"Federation Square can be unforgiving, but then very generous. That's the nature of the space."