Providing your team with the skills needed to succeed in retail.
Managing poor performance is one of the biggest challenges leaders face in retail today. With increased litigation cases it is imperative that leaders get it right. If, despite coaching the team member, they’re still not performing to standard, the next step is to conduct a counselling session.
It is often the small steps we take in life that have the most impact.
To truly make the most of inventory control initiatives, it is essential to establish protocols and schedules around stocktaking. Stocktake involves counting stock in hand and comparing it to the reported figures from the inventory management system. The purpose of stocktake is to ascertain any...
When you monitor and evaluate the impact of displays, you should consider the objectives of a Visual Merchandising plan. Asking the following questions can help you monitor the effectiveness:
Every retail store will gain more sales impact from defined regions of the store. For example, windows, impulse areas/hot spots and counters. These areas invariably attract the highest volume of traffic and therefore generate a greater proportion of sales.
Feedback is a way to support team members and ensure they’re aware of their performance. Regular feedback can help team members reflect on their performance and take action to repeat or change behaviours.
As retailers have varying product and service offers, providing customers with a choice in product quality, appearance and functionality, it is understandable that approaches to pricing differ.
The Internet is a powerful channel that presents new opportunities for touching customers, enriching products and services with information, squeezing out costs through process automation, and redesigning internal business processes through enhanced communication and knowledge sharing.
Innovation is the process of making something new and of value.
Different organisations and individuals will choose to use various forms of e-business. Some businesses will only use email for communication and don't require a website, whereas others will operate almost entirely online.
Strategies for cost reduction must always be considered about store policies and procedures and aligned with broader corporate objectives.
The following guidelines are often used to display and sell the greatest amount of merchandise possible in a given amount of space for the most effective results;
With so many businesses and sources of information on the Internet, most online customers quickly become used to making rapid judgements about a website.
When you delegate tasks or jobs that you do not need to be doing, it frees you up to focus on delivering on other areas.
The quality of storage areas and equipment reflects a shop’s level of organisation. It’s easy to neglect ‘out of sight, out of mind’ storage spaces, but cutting corners only nudges the problem a little way down the road before your store ends up losing stock and staff waste time searching for...
The importance of offering exceptional customer service.
Whilst there is no defined language of budgets, generally most professional retail businesses will have a number of different budgets for the various functions of the business.
Simple ways to use creative problem-solving techniques
Every business needs to conduct a risk analysis when assigning responsibilities to staff and establishing performance standards. A good risk analysis will help you manage everyday workplace risks, and it will ensure that you don’t fall afoul of organisational or legal requirements.