Advanced Retail Management Strategies
Course Info
Code IND09-101
Duration 5 Days
Format Classroom
Course Summary
In a retail setting, there are lots of things to think about to maintain a happy team and ensure the customers leave the store happy with their purchases.
A successful retail manager helps to develop a motivated team who are customer focused and always have the success of the department in mind.
The team will need to consider seasonal changes, how to display merchandise to make the most sales and how to be security conscious in order to prevent shoplifting.
A retail manager is also responsible for the customer journey while they're in store, ensuring that every interaction with a member of staff goes smoothly and that their shopping experience isn’t hindered by the flow of other customers or problems with pricing.
To become a successful store manager, you will need to upskill in marketing and sales techniques and product placement with POS (point-of-sale) displays, handle the best face-to-face communication and customer service and conduct regular training for all staff to help them understand the importance of their role within the wider company.
- To understand your roles and responsibilities as a retail manager.
- To study and highlight pain points in the customer journey to aid continuous improvement.
- To motivate and engage your team and create a customer-focused culture.
- To manage merchandising and POS to make more sales.
- To make seasonal layout amendments to increase conversion.
- To effectively manage employee underperformance.
- To understand pricing and discounting within budget.
- To manage health and safety procedures for the premises.
- To conduct regular audits on stock and risk areas to maintain high-quality standards.
This course is designed for people who are responsible for managing a retail environment and motivating frontline retail employees. It would be most beneficial for:
- Store Managers
- Business Managers
- Operations Managers
- Merchandising Managers
- Customer Service Managers
- Trainers
- Project Planners
- Sales Managers
- Retail Buyers
This course uses a variety of adult learning methods to aid full understanding and comprehension. Participants will discover floor plans and access points to review the customer journey of successful store chains, complete role-playing exercises to practice excellent customer service skills in the face of complaints, and devise effective merchandising strategies to increase conversion.
Managers will also share best practice to recognise talent and place in development plans, but also highlight underperformance from employees and learn how to motivate and manage people using helpful skills and techniques.
Course Content & Outline
- What is your role within the wider company and why is it important?
- Career progression in retail management.
- How retail is changing today.
- How online retail is affecting your customer base.
- Workplace essentials and competencies.
- Safety first and risk assessment essentials.
- Leading by example.
- The differences between leading and managing and how they work together.
- HR and recruitment.
- Highlighting talent and creating development opportunities.
- First-week training.
- The relationship between retail and sales.
- Setting SMART targets.
- How to measure success.
- KPIs and how to display these to the team.
- Regular coaching sessions and managing performance.
- Highlighting underperformance and addressing this with individuals.
- Rewards and incentives for high achievers.
- PDPs and PIPs to improve performance.
- The 5 dimension retail strategy.
- Monitoring competitors to improve your strategy.
- Identifying strengths and weaknesses of your roadmap.
- The EST Model to achieve strategic positioning.
- Business intelligence and how to obtain accurate data.
- Measuring your data against previous years.
- Create a high-performance culture.
- Cascading performance against finance.
- Understanding your budget and using this to motivate the team.
- HR programs and procedures to maintain performance in line with business standards.
- FTE count and staffing.
- Rota-based performance against finances.
- Creating scorecards to instil company values and bring about positive change.
- Going above and beyond for the customer.
- Understanding and accepting constructive feedback.
- Motivating a team at the beginning of a shift.
- Assessing the customer journey.
- Keeping a clean and safety-conscious environment.
- Service with a smile.
- Inventory control and management.
- Seasonal merchandising.
- Assessing security risks and creating mitigation methods.
- Managing your financial resources.
- Reviewing sales performance and making changes based on pain points.
- Your continuous improvement roadmap.
Featured Courses
Holistique Training draws distinction as one of the pioneers in the field of training and professional development solutions since 2008.