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15 Retail Store Management Tips You'll Want To Bookmark

Retail Store Management Tips
A retail store manager's job involves running retail outlets that range from small-sized independent stores to large supermarkets. The job of a retail store manager is to oversee and ensure smooth running of the store. The job also involves the capability of managing multiple priorities along with management skills like communication, recruiting, training, and coaching.
Rita Putatunda
Last Updated: Mar 26, 2018
Retail store managers should have organizational skills which includes the ability of paying attention to detail as well as following-up on a variety of matters. Some of the duties of a store manager are: 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, etc. Retail management also includes focusing on key initiatives in business, daily cost control in operations, risk management, payroll management, loss prevention, inventory management, marketing execution, and store presentation.
Never Correct the Customer
The Customer is Always Right
Yes, that age-old saying holds true even today. The customer is the most important facet of any business. Hence, as a retail store manager, you need to ensure that the whole team comprehends that the customer is their top-most priority, that the customer should be satisfied with the goods and service you provide, and that you never challenge the customer!
Make the Customer Feel Special
Make the Customer Feel Special
Everybody likes feeling special. So, when you are with a customer, give him or her your exclusive attention, listening to whatever they say. During that time don't let anything else interrupt you. You may even make a flattering comment or two. If it is a clothes store, compliment the customer after they try something on; if it is a food store, give them tips regarding which product is more healthy, etc. You can also ask a few appropriate questions in order to make better suggestions.
Go the Extra Mile
Go the Extra Mile
Although this is often touted, it is seldom practiced! As a retail store manager, see to it that the sales staff does that extra bit to make the customer feel pleased, especially as a measure of calming their displeasure about something. For instance, some special store giveaways can be packed with their purchases, or you may handout a discount coupon. You may even offer refreshments.
Deliver More
Deliver More
The difference in "promise less but deliver more" and "deliver more than you promise" is that of attitude. If you promise less, you may come across as playing a safe game. You may lose your customer to someone who promises more. But if you promise more and deliver even more, the customer is bound to come back to you! It is the gesture that counts. By giving more than whatever you may have promised, you can build a strong customer rapport, both inside as well as outside the store.
Appearances do Matter
Appearances do Matter
Although you may dismiss it as a superficial aspect of a superficial consumerist society, there is no escaping the fact, that the first impressions of your store is going to be the last impression! So make sure you make a good first impression. This includes a smiling, enthusiastic and well dressed staff, a clean and easy to maneuver around store, and a positive and happy ambiance. Avoid loud music, and complicated arrangement of goods.
Display Merchandise Attractively
Display Merchandise Attractively
A vital part of management is seeing to it that the merchandise is displayed properly; this means in an uncomplicated, easy-to-find and yet attractive manner. If the items are not displayed or seen properly, they won't be sold in the numbers that they ought to be. Merchandise should look crisp and new at all times. Also, appropriate sections should be made for merchandise, and the items should be placed in the correct sections. Items that are similar in nature should be placed in the same area.
If the items are shop-worn, they should be put in the bargain section. Items that are usually bought on impulse should be placed on display close to the cash out area (play on the psyche of your customers).
Diplaying Items Effectively
Diplaying Items Effectively
Apart from displaying merchandise attractively, you, as a retail store manager, should also make sure that the items are placed in such a way that they draw the customer's attention. Hiding or stacking merchandise will not attract the attention of the customer. Try to imagine what the customers will view with the display. Placing merchandise at eye level, or a little lower , is the best way to display specials. Placards and signs are also another method of grabbing the eye of the customer.
Floor Space Management
Floor Space Management
Make sure that your store has ample floor space for customers to move about easily. The shelves in themselves too should be uncluttered. A store with easy shopping areas will attract more buyers and will hence make more sales rather than a stuffed, cluttered store. Organize your store in such a way that the customers will not have to hunt for what they want. They should be able to walk in, walk up to the shelf, pick their stuff off it, and walk to the billing area, all on their own!
Cycling Unsold Merchandise
The bottom 10 to 20 percent of the product lines should be gotten rid of every year to be replaced by new products. The product lines that are not selling well should be marked down to half their price in order to sell them fast. You can even put the slow selling items in the bargain section. You may even come up with store offers, like Buy One Get One Free, or something like that.
Timely Ordering of Inventory
This is another important aspect of a retail store manager's duties. The levels of inventory should be monitored and kept in adequate amounts at all times. If customers do not find what they are looking for, they will just go to another store. Your inventory should be such that a customer should never leave your store empty-handed. If at all it ever happens, the incident should not be repeated!
Hiring the Right People
The success of retail managers is largely dependent on the kind of people they hire. The staff has to have the ability of making a quantifiable and meaningful contribution to the store's performance. In order to be able to rise in the organization, the store manager has to draw the attention as well as the recognition of the top management. The correct people will help in showcasing their talents while they achieve their objectives. Make sure you motivate them to always deliver their best.
Training Staff
Hiring the right kind of people and keeping them motivated is only a part of a retail store manager's path to success. The main part of a manager's job is to train the staff so that they are aware of what is expected of them. This will ensure that all the people involved in the success of the store move in the same direction.
Time Management Skills
After hiring the right people, training them fully, and getting them ready to achieve success, a retail store manager has to take care of managing their own time along with the changing priorities they have to deal with each day. This is especially true in case of SALE periods and during holidays, when the store may have an unusual amount of rush. Your staff should be trained enough to handle large number of customers without making mistakes or getting overwhelmed! Efficiency is the key.
Long Term planning
Long term planning to ensure that every hour of every day in a week is managed effectively is another important part of the manager's job. The skill of long term planning is what will be appreciated by the higher authorities, for they look for people who have the ability of looking forward, and creating concrete plans, in order to increase profit and improve the business. A retail manager who can accomplish this will rise in the organization. A bird's eye-view is crucial!
Efficiently Operating Retail software
These days, there is a lot of retail software available which provide scalability, data integrity, stability, and speed, thus offering a complete retail management solution, which can be adapted according to the type of business. From inventory management to Point Of Sale (POS) ticket entry, customer tracking, integrated purchasing, and monitoring the movement of merchandise, retail software provides all the capabilities required to run a retail store business more effectively and efficiently.
I am sure that if you incorporate all the above tips in managing the store you work for, you are bound to achieve success - a lot of it, and pretty soon too! Finally, you may use them as part of training program for the retail store manager you hire. Wish you loads of luck and success!