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Retail store management
Transcript of Retail store management
meeting sales and personal targets
ensuring customer satisfaction via maximizing the shopping experience of customers
managing all aspects of store operations in order to ensure maximum sales as well as profit INTRODUCTION 4 Categories of responsibilities of store manager Retail personnel management recruiting and selecting
socializing and training
providing constructive feedback
rewarding and compensating Controlling cost
increasing personnel productivity
reducing maintenance and energy cost
minimizing inventory losses. Merchandise management
maintaining visual standards
working with buyers. Providing customer service
developing strategic advantage through customer service
continuing evaluation of customer service quality. RECRUITING AND SELECTING STORE PERSONNEL The job analysis
Identifies essential tasks and is used to determine the qualifications of potential employees. The job description
It covers the various tasks the employee needs to perform, and the performance expectations expressed in quantitative or measurable terms. Locating prospective employees
Outside of the expenses “want ads” as well as the job placement bulletin boards of college and universities. References
A practical way to verify the information given on an application form is to contact the applicant’s references. Testing
The types of tests normally used by retailers to provide insights about potential employees are intelligence, ability, personality, and interest tests. Selecting applicants
The selection process typically involves personal interviews by people from the human resource department or personnel office, and by officers of the retail store. Preparation for the interview
The objective of the interview is to gather relevant information about the applicant and his/her track records. SOCIALIZING AND TRAINING NEW STORE EMPLOYEES Socializing
It is the set of activities taken to transform new employees into effective, committed members of the retail organization. Orientation
The orientation and training program for new salespeople might be limited to several hours or few weeks during which they learn the retailer’s policies and procedures.
Training store employees
The training program for new store employees is a combination of structured and unstructured or on-the-job learning experiences. STRUCTURED UNSTRUCTURED MOTIVATING AND MANAGING STORE EMPLOYEES Extrinsic rewards
are rewards provided by either the employee’s manager or the firm, such as compensation, promotion and recognition
are rewards employees get personally doing their job well, such as happiness in being able to solve a complex problem in the retail store. Compensation programs
The objectives of compensation program are to attract and keep good employees, motivate them to undertake activities consistent with the retailer's objectives, and reward them for their effort. Straight salary compensation Straight commission Salary plus commission Quota-bonus plan Group Incentives CONTROLLING COST Labor scheduling
Using store employees efficiently, such as through proper Labor scheduling, is a challenging task for store managers. Store maintenance
Store maintenance entails the activities involved with managing the exterior and interior physical facilities of the store Energy management REDUCING INVENTORY LOSS Detecting and preventing shoplifting
Losses due to shoplifting may be reduced by store design, employees training, and special security measures. STORE LAYOUT GRID
This layout is best exemplified by most grocery stores or supermarkets. RACETRACK
This layout also known as a loop is a type of store design that provides a major aisle to facilitate customer traffic, with access to the store's multiple entrances. FREE-FORM
This is also known as boutique layout. It arranges fixture and aisles asymmetrically. FEATURE AREAS END CAPS
These are displays located at the end of an aisle, characterized by high visibility. PROMOTIONAL AISLE
FREE STANDING FIXTURES AND MANNEQUINS
These are designed primarily to attract the attention of customers and bring them into a department.
POINT OF SALE AREAS
These are also known as point of purchase, checkout, or cash wrap areas, places in his store where customers can purchase merchandise.
This is one area, where the retailers can pour out all their creative juices. The science of management developed by Max Weber and Hanri Fayol is applicable not only in manufacturing firms and governments but also in retail store management. Store managers are doing significant and crucial tasks in retail store management. They are, in fact on the firing line on retailing. And because of their daily face-to-face interactions with customers, they have the best information about customers’ needs and competitive activities. They play an important role in formulating and executing retail strategy. Retail personnel must not be regarded like chess pieces on the chess board, but as business partners in the retail journey, whose God-given skills must be appreciated, developed, and nurtured by management to help them achieve their full potential. END ;-) <3 Objectives:
1) To discuss the 4
major responsibilities of a store manager.
2) To discuss the topics under recruiting and selecting store personnel.
3) To discuss the topics under socializing and training new store employees and how to motivate and manage them.
4) To discuss how to
control cost/expenses in a retail store.
5) To discuss how to reduce inventory losses.
6) To discuss the different store layout and feature areas in a retail store.