Retail Management

Overview:

Introduction:

The Retail Management training program offers comprehensive instruction and practical experience in effectively managing retail operations and maximizing profitability. Participants gain essential skills in strategic planning, sales management, customer service, and team leadership within the retail environment.

Program Objectives:

At the end of this program, the participants will be able to:

• 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.

Targeted Audience:

• Retail store managers, and Retail business owners..

• Assistant store managers.

• Retail operations managers, Retail sales managers, and Retail team leaders/supervisors.

• Merchandising managers.

• Retail management trainees.

Program Outlines:

Unit 1:

Retail Environment and Strategy:

• Defining retailing and assessing today's retail landscape, including the pillars of retail and marketing channels.

• Developing competitive retail strategies, utilizing the EST Model for strategic positioning, and integrating retail leadership guidelines with business intelligence practices.

Unit 2:

Store Sales Performance Metrics:

• Identifying critical performance questions and determining key retail metrics to measure performance effectively.

• Utilizing the Strategic Profit Model for analysis and computing the store's return on net worth for performance evaluation.

Unit 3:

Retail Sales Management and Coaching:

• Understanding the evolving role of retail sales associates and implementing relationship selling techniques.

• Implementing the retail sales management process, including hiring, training, goal-setting, and performance evaluation.

Unit 4:

Retail Performance Management:

• Enhancing leadership quality, fostering a high-performance culture, and developing HR programs and processes for performance improvement.

• Evaluating individual performance levels and creating balanced scorecards for stores and sales associates.

Unit 5: 

Customer Service Excellence:

• Identifying trends in customer relations, shaping customer perceptions, and developing effective service strategies.

• Establishing customer service requirements, addressing customer complaints, and implementing a retail success blueprint for exceptional service delivery.