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This course helps existing and potential retail managers acquire the required knowledge and apply the needed skills to grow their businesses and careers. The course provides knowledge and understanding of retailing in the 21st century and shows how managers can contribute more to the success of their organizations. The course delves into the critical strategy development steps necessary to manage retail sales associates, create critical retail metrics to measure performance, and devise a retail sales management approach that really works.
The course uses a mix of interactive techniques such as videos, brief presentations by the consultant and the participants, group workshops and case studies, self assessment tools and relevant templates.
By the end of the course, participants will be able to:
Build awareness of the retail industry to foster career growth among people who work in retail
Assess their own strengths and weaknesses to devise sustainable strategies to survive and grow in competitive markets
Create and analyze retail metrics to monitor store performance and enhance retail staff productivity
Explain the retail sales management process and lead, coach, and motivate retail sales associates
Develop and implement HR processes and balanced scorecards to evaluate store and individual performance levels
Interpret customer behavior in a retail environment in order to produce a positive shopping experience
Devise an exceptional customer service roadmap to improve customer loyalty and boost sales in a record time
Most participants on this course are retail employees looking to take their retail organization and careers to the next level. The course is also appropriate for new sales managers and assistant managers, as well as anyone pursuing a management career in retail or a related industry.
Retail metrics
Retail planning and strategies
Recruiting retail sales associates
Retail sales management
Retail sales process
Customer service
Retail dashboards and scorecards
Course Outline
The retail environment and challenges
Retailing defined
Today’s retail environment
The pillars of retail (7Ps) and related metrics
Retailing and marketing channels
Retail strategies and business intelligence
Retail competitive strategies
The 5 dimensions of a retail strategy
The 'est' model: achieving strategic positioning
Assessing strengths and weaknesses for better positioning
Retail leadership guidelines
The components of retail business intelligence
Business intelligence and retail operations
Store sales performance metrics
Critical performance questions
What to measure and when?
15 key retail metrics
The strategic profit model (DuPont analysis)
Computing the store’s return on net worth
Retail sales management and coaching
The new role of the retail sales associates
Relationship selling and retailing
The retail sales management process
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Hire
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Train
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Set goals and objectives
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Define and measure metrics
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Motivate
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Evaluate performance
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Reward and incentivize
Retail performance management
The critical components of retail performance
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Improve the quality of leadership
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Instill a high performance culture
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Develop and implement HR programs and processes
Evaluating individual performance levels
Developing balanced scorecards (store and retail sales associates)
Customer service management
Trends in customer relations
Shaping customer perceptions
Developing your own service strategy
Customer service requirements
Key ingredients of service strategy
Facts about customer complaints
A retail success blueprintmeirc
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