Retail Management Skills Course

Introduction

Who should attend:

Senior retail managers who want to discover the various traits of successful retail management through actual case studies and industry best practices that showcase the required skills and strategies.

Objectives

• Analyze store operations, supervise employees and manage inventory.
• Understand customer behavior in a retail environment.
• Develop successful sales plans to grow store profitability.
• Produce a positive shopping experience.
• Use proper merchandising and promotional strategies to improve sales performance and customer loyalty.

Content

The Retail Environment and Challenges

• Retailing Defined 
• Today’s Retail Environment 
• The Pillars of Retail (7Ps) and Related Metrics
• Retailing and Marketing Channels

Retail Strategies and Business Intelligence

• Retail Competitive Strategies 
• The 5 Dimensions of a Retail Strategy
• The EST Model: Achieving Strategic Positioning 
• Assessing Strengths and Weaknesses for Better Positioning 
• Retail Leadership Guidelines 
• The Components of Retail Business Intelligence 
• Business Intelligence and Retail Operations

Store Sales Performance Metrics

• Critical Performance Questions
• What to Measure and When?
• 15 Key Retail Metrics 
• The Strategic Profit Model (DuPont Analysis)
• Computing the Store’s Return on Net Worth

Retail Sales Management and Coaching

• The New Role of the Retail Sales Associates
• Relationship Selling and Retailing
• The Retail Sales Management Process 
  • Hire 
  • Train
  • Set Goals and Objectives
  • Define and Measure Metrics
  • Motivate 
  • Performance Evaluation
  • Rewards and Incentives 

Retail Performance Management

• The Critical Components of Retail Performance 
  • Improve the Quality of Leadership
  • Instill a High Performance Culture
  • Develop and Implement HR Programs and Processes
• Evaluating Individual Performance Levels 
• Developing Balanced Scorecards (Store and Retail Sales Associates)

Customer Service Management

• Trends in Customer Relations
• Shaping Customer Perceptions
• Developing Your Own Service Strategy
• Customer Service Requirements
• Key Ingredients of Service Strategy
• Facts about Customer Complaints
• A Retail Success Blueprint