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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