AN INTRODUCTION TO RETAIL MANAGEMENT

Objective

Learn how retailing works and the factors that influence its success.

Content

Introduction to Retailing

• Learn about the ever-changing retail landscape
• Identify different types of retail businesses
• Describe the internal and external factors that impact the retail business
• Identify key retail terms
• Understand the 3 P’s of retail: Product, Presentation and People, and how they influence customer satisfaction
• Explain the seasonality of retail and how seasonal changes affect customer needs
• Learn about the retail industry’s growth and career opportunities

The Shopping Experience

• Describe the key drivers that contribute to a great shopping experience
• Understand customer shopping habits, motivations, and expectations
• Explain the various service levels in retail
• Describe the Retail Manager’s role in influencing the shopping experience

Retail People and Positions

• Understand the traits and characteristics that best match the job requirements of the retail industry
• Identify key retail positions and how they contribute to the customer’s shopping experience and the success of the business
• Describe the career path for retail management and main responsibilities of retail management roles

Sales and Profit

• Understand the Retail Manager’s role in achieving sales volume and building sales growth
• Describe the factors that influence sales
• Describe the factors that impact profitability