Course description
Retail and store management are integral to the logistics aspirations of every company. In addition, they play a vital role in providing exceptional customer services to clients by serving as the link between producers and consumers.
What is retail management, and why is it important?
Retail management is an aspect of sales management primarily focused on improving customers’ experiences through various techniques that create every incentive possible for purchase. Retail managers focus on building an engaging environment using variety, sizes, shelving height, room temperature, and width, color, and product placement, among many other strategies, to set up the best stage for sales. These practices target bringing customers into the store and improving the retail experience to develop client satisfaction. The retail management process is heavily focused on encouraging customer purchasing, which retail management performs by building an appealing shopping experience using product placement, colorful displays, flattering lighting, interactive displays, ambient room temperature, etc.
Upcoming start dates
Suitability - Who should attend?
Who Should Attend?
The following personnel should undertake The Rcademy Certificate in Retail and Store Management Training Course:
- Head cashiersare responsible for monitoring cashiers, maintaining the cash register area, and training new employees
- Retail assistant managersare tasked with supporting the store manager by conducting managerial tasks and deputizing for the manager in their absence
- Store managersare responsible for the daily operation of a retail store, hiring and training employees, and managing inventories
- Customer service managersare charged with supervising the customer care department in a retail establishment, handling customer complaints, and addressing concerns
- Warehouse managersare responsible for overseeing inventories and reporting on observed inventory trends, and designing an enticing display to boost sales
- Asset Managersare responsible for managing the assets of a company and also executing programs that raise the value of a company’s assets
- Cost managersare charged with planning a company’s budget and ensuring the cost-effective business transactions
- Human resources managersare tasked with hiring and interviewing staff members, conducting performance evaluations, and serving as a liaison between the management and staff
- Sales/marketing experts arecharged with measuring the effectiveness of a firm’s marketing and promotional campaigns, analyzing market data trends to identify potentials for revenue generation
- Budget analystsare charged with monitoring a company’s spending to ensure that funds are adequately assigned and utilized according to the plan
- IT managersare responsible for ensuring that a store’s computer systems are functional, including software and hardware maintenance
- Financial managersare responsible for evaluating financial reports, preparing economic forecasts, and monitoring accounts
- Individualsinterested in learning about retail and store management
Outcome / Qualification etc.
The Rcademy Certificate in Retail and Store Management Training Course will help attendees achieve the following objectives:
- Understand the basics of retail and store management
- Learn how to create a comprehensive brand report on retail business
- Learn about the high-tech, global, and ever-dynamic retail industry
- Recognize how wasteful activities and costs can be reduced and eliminated
- Learn how to evaluate store operation, manage inventory, supervise employees, and engage with customers
- Learn how to boost internal productivity and build successful sales plans that grow the store profitably
- Understand how to create a positive shopping experience and various warehouse design procedures
- Learn how to use promotional strategies and effective merchandising to boost customer loyalty and sales performance
- Learn about store management metrics
Training Course Content
Module 1: Introduction to Retail and Store Management
- Overview and definition of terms
- The pillars of retails
- Components of retail services
- Types of retail services
- Marketing and retailing channels
- Basic retailing concepts
- Components of store management
- The duties of the store manager
- Roles and Responsibilities of Retailers in the Economy
- Characteristics of effective retail managers
- Components of retail management
- Retail in the supply chain
Module 2: Store Sales Performance Measures
- DuPont analysis
- Critical performance questions
- The strategic profit model
- Key retail metrics
- Deciding what to measure and when
- Computing the store’s return on net worth
Module 3: The Roles of the Warehouse in Retail Management
- Defining the warehouse
- Types of warehouses
- Functions of the warehouse
- Capacity and location of the warehouse
- The link between storing and sorting
- Warehousing vs retailing
Module 4: Business Intelligence and Retail Strategies
- Retail competitive strategies
- The Elements of retail business intelligence
- The EST model
- The dimensions of retail strategy
- Retail leadership guidelines
- Evaluating strengths and weaknesses for better positioning
- Retail operations and business intelligence
Module 5: Elements of Retail
- Target market
- Retail format
- Strategy
- Sustainable competitive advantage
- strategic retail planning processes
Module 6: Retail Pricing
- Definition of terms
- Pricing challenges
- Pricing in retail strategy
- Pricing executions
- Retail pricing strategy and objectives
Module 7: Warehouse Layout Options
- Storage options
- Picking/assembly options
- Organizing for flow
- Dispatching options
- Using the height space and the floor
- Receiving options
Module 8: Retail Sales Management and Coaching
- Relationship between retailing and selling
- The roles of the retail sales associates
- The retail sales management process – Hire – Train – Establish goals and objectives – Motivate – Define and measure metrics – Rewards and incentives – Performance analysis
Module 8: Product Classification
- The supply and demand variables
- Determining product handling groups
- ABC analysis
- The 80/20 rule
- Throughputs and product formats
Module 9: Health, Safety, Security, and Loss
- Duty of care
- Risk assessments analysis and inspections
- Equipment maintenance and care
- Reducing internal theft
- Minimizing external theft
- Raising workers’ awareness
Module 10: Retail Performance Management
- The vital elements of retail performance
- Evaluating individual performance culture
- Building and implementing HR campaigns and processes
- Improving the leadership and management quality
- Building balanced scorecards for store and retail sales associates
Module 11: Customer Service Management
- Trends in customer relations
- Facts about customer complaints
- Shaping customer perceptions
- Customer service requirements
- Building your service strategy
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Rcademy
Rcademy is a global training and consultation organisation set out to bridge the gap between you now and what you can be in the near future. We are facilitators of knowledge impartation. Our team of established and experienced training enthusiasts...