Course Outline
- The retail business 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
- Hire
- Train
- Set goals and objectives
- Define and measure metrics
- Motivate
- Evaluate performance
- Reward and incentivize
- Retail performance management
- The critical components of retail performance
- Improve the quality of leadership
- Instill a high-performance culture
- Develop and implement HR programs and processes
- Evaluating individual performance levels
- Developing balanced scorecards (store and retail sales associates)
- Customer service management in retail business
- 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 blueprint
