Introduction to Retail Operations

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retail operations, store operations

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Introduction to Retail Operations:

Introduction to Retail Operations

What is Retail Operations???:

What is Retail Operations??? Retailing function that is responsible for planning, managing and maintaining retail building; protecting the store and merchandise; providing customer service; and coordinating the movement of goods and people within the building. Online Retail operations would include maintaining warehouse, orders and shipping.

KPIs of Retail Operations:

KPIs of Retail Operations customer service inventory management marketing & CRM visual merchandising people management and space management

Key findings : Indian Retail Operations Benchmarking & Excellence Survey 2013 :

Key findings : Indian Retail Operations Benchmarking & Excellence Survey 2013 Store profitability is paramount Customer service is the differentiator Inventory management is a critical focus area Below the line (BTL) marketing is the way forward Weak store expansion and strong focus on optimization of existing investments

Key findings : Indian Retail Operations Benchmarking & Excellence Survey 2013… :

Key findings : Indian Retail Operations Benchmarking & Excellence Survey 2013… Employee engagement is key to sustained growth Multi Channel – high on interest but low on action There is high interest in e-commerce but low commitment and action Modest adoption of Customer Loyalty Programs (CLP) Customer segmentation too has to evolve and this is another area that retailers have on their radar for FY 2014.

Store Operations:

Store Operations 6 3/17/2013

Tasks to be performed at the store level:

Tasks to be performed at the store level 3/17/2013 7 Receiving and displaying goods Providing customers ‘shopping’ experience Recording sales Managing alliances/partnerships and promotions/events Store administration and management of premises

Typical tasks to be performed:

Typical tasks to be performed Store Administration & Management of Premises Managing Inventory & Display Managing Receipts Customer Service Managing Events, promotions, Alliances and Partnerships 3/17/2013 8

Management of Premises:

Management of Premises Strictly following the duration of hours for business Responsibility for opening & closing the store Security of store Premises Security of merchandise Maintenance of the store façade & display windows Cleanliness of the store premises 3/17/2013 9

Store Administration:

Store Administration Manpower Planning Facilities management Time keeping of store staff Staff Security Expense Management Meeting requirements with respect to licenses & permissions as required by the law of the land 3/17/2013 10

Managing Inventory & Display:

Managing Inventory & Display Receiving & Inwarding of goods Maintaining proper documentation for goods received and returned from the store Display of merchandise in various sections Special displays in case of events & promotions 3/17/2013 11

Managing Receipts:

Managing Receipts Determining the mode of receiving payments for sales – cash, credit cards, co-branded cards, etc Maintenance of records Method of billing may be an aspect of store operations which most of the staff are conversant with. 3/17/2013 12

Customer service:

Customer service The customer service policy defined by the management is actually put into practice at the store Handling loyalty programmes Handling irate customers Handling situations when there is an increase in the number of customers in the store – Diwali, Christmas, a discount sale, etc 3/17/2013 13

Managing Events, Promotions, Alliances…:

Managing Events, Promotions, Alliances… Local tie-ups for certain products / services During events, promotions – staff needs to be trained on all aspects of the event/ promotion and the specialties in merchandise if any 3/17/2013 14

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