Retail management is not just a skill; it is an art form. Retailing involves understanding consumer behavior in a way that drives them to purchase your product. You can quickly learn how to effectively manage anything from a small-scale boutique to a large corporate franchise once you complete the Retail Management Program by Lets Talk
Through our comprehensive yet easy-to-use training module, you can learn to create successful service, branding, and marketing strategies. You will look at areas such as specialty retailing, retail channels, strategic planning, retail site selection, merchandising, and pricing.
Retail management can be a career that offers great variability and flexibility; it all depends on where you picture yourself. Maybe you see yourself in a specialty shop that sells kitchen knives, a mall clothing store outlet, or a conglomerate department store. There are some terrific options out there, and you will soon find this out for yourself! after completion of this training module.
Benifits of this training module
This course covers all areas of Retail with a managerial context.
Student gets a CCRM Certification accepted by all Retail Corporates, and which will aid in placement and also in promotions /growth in one’s career in Retail Sector.
Course Content ..................................................................................................Duration : 65 hrs
1: Setting the Foundation; Customer Service.
Defining retailing; traits of successful retailers; the retail organization; management positions; departmental personnel; management training; motivating employees; components of customer service in the retail environment; training employees in good customer service practices.
2: Success as a Large Retail Store Department Manager.
management strategies; target and niche marketing; department manager responsibilities; store set-up; department layout; personalization; buyers and vendors; business meetings; business analysis; controlling department performance.
3: Success as a Small Retail Store Entrepreneur.
Specialty retailing; capitalization; location; market analysis; traits of a successful entrepreneur; steps to launching a small retail enterprise; competing against large retailers; store design; principles of store set-up; store aesthetics, fixtures and colors; incremental and impulse sales; customer loyalty programs; multi-channel retailing; Internet opportunities for small businesses.
4: The Exciting Retail World.
The economic significance of retail sales; retail employment; the top 25 global retailers; structure of retailing and global distribution channels; retail management and entrepreneurial opportunities; decision-making; implementing retail strategy; trends in retailing; retailer characteristics; food, general merchandise, non-store, and services retailing; types of ownership.
5: Multichannel Retailing and Consumer Behavior.
Retail channels for interacting with customers; trends and implications; electronic retailing: multichannel retailing; shopping in the future; types of buying decisions; the buying process; social factors influencing buying decisions; market segmentation.
6: Strategic Planning and Financial Performance.
Definition of retail market strategy; target market and retail format; building a competitive advantage via location, human resource management, unique merchandise, distribution and information systems, vendor relations and customer service; market penetration, expansion and diversification; global growth opportunities; the strategic retail planning process; the strategic profit model: sales, margins and expenses; the turnover path; return on assets; setting performance objectives.
7: Location and Site Selection.
Retailing centers; city or town locations; freestanding sites; location and retail strategy; economies of scale vs. cannibalization; demographics; business climate; accessibility; locational advantages within a center; trade area; methods of estimating demand.
8: Managing Human Resources; Customer Relations; Information Systems.
Gaining competitive advantage via human resource management; organization of a single store, regional department store and other types of retailers; coordinating merchandise with store management; building employee commitment; managing diversity; legal issues; supply chain management; data warehousing; electronic data interchange; logistics of distribution; implementing CRM programs; collecting and analyzing customer data; market segments.
9: Merchandise Assortment, Buying Systems and Vendor Relations.
Organizing buying by categories; the merchandise plan; margins, sales and inventory turnover; sales forecasting; assortment planning; staple merchandise buying systems; fashion merchandise budget plan; open-to-buy; allocating merchandise to stores; analyzing merchandise performance; branding strategies; international sourcing; negotiating and partnering with vendors.
10: Pricing and the Retail Communication Mix.
Pricing strategies; setting prices; price adjustments; using price to stimulate sales; building brand equity; personal and impersonal methods of communicating with customers; planning, implementing and evaluating retail communication programs
11: Store Management.
Key management duties; recruiting employees; training, motivating and managing new store employees; compensation; controlling costs; reducing inventory loss; elements of good store design and layout; space planning; presenting merchandise; atmospherics; customer service strategies; customer evaluation of service quality; meeting and exceeding service standards.