Retail Strategy and Planning

Retail Strategy

Unpacking the Elements of Retail Strategy Crafting a successful retail strategy requires a holistic approach, combining various elements to offer a unique value proposition to consumers. A well-thought-out strategy ensures competitiveness, profitability, and long-term success in the ever-evolving retail landscape. This part delves into…

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Motivation & KPIs

Successful Retail Manager Knows How to Motivate

As any retail professional knows, KPI’s (Key Performance Indicators) provide valuable information about the retail operation as a whole, and about individual business units – stores, for instance. Often, store performance is quickly evaluated on the basis of a few select KPI’s. Those are…

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Pushing for Performance

Importance of Human Capability

The fiscal month is coming to a close. The store’s sales performance has been lackluster for several months but, this month, they are doing much better. This coming Saturday is the last day of the month. The Store Manager wants to take the day…

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Effective Leadership

Effective leadership

How to Become a Strong Leader? To be an effective leader, your followers must have trust in you and they need to be sold on your vision. Korn-Ferry International, an executive search company, performed a survey on what organizations want from their leaders. The…

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Managing Retail Employees

Leadership - Listening

Let’s discuss the management and development of employees. As more experienced individuals transition to higher positions, retirement, or pursue other interests, younger employees step up to fill the gaps. It’s important to judge each person based on their own merits. We don’t assert that…

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Planning for Successful Retail

Planning for Successful Retail

Statement of Direction There are many ways you can describe the direction of your retail business to your employees. The important thing is to have well thought out, meaningful and written statements which describe the major areas of business activities to give solid direction…

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Setup to Win

Setup to Win

Setting Expectations & Setting People Up to Win Make sure your new hires know what is expected of them. Here’s why… (The following is a short story to illustrate.) In a store that is part of a large international retail chain, I recently witnessed something…

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