Wednesday, 23 May 2012
Monday, 12 March 2012
Retail Store managers Job roles
Are you dreaming a job in Dynamic environmental of retail operations?a carrier as a store manager, who can independently handle a store with office allowed ed staff.what are the responsibilities he has to handle.check one by one
- Managing and motivating sales promoters to increase sales and ensure efficiency
- Managing stock levels and making key decisions about stock control
- Analyzing sales figures and forecasting future sales volumes to maximise profits
- Analyzing and interpreting trends to facilitate planning
- Using information technology to record sales figures, for data analysis and
- forward planning
- Dealing with staffing issues such as interviewing potential staff, conducting
- appraisals and performance reviews, as well as providing or organizing training and development
- Ensuring standards for quality, customer service and health and safety are met
- Responding to customer complaints and comments
- Organizing special promotions, displays and events
- Updating colleagues on business performance, new initiatives and other pertinent issues;
- Touring the sales floor regularly, talking to colleagues and customers, and identifying or resolving urgent issues
- Maintaining awareness of market trends in the retail industry, understanding forthcoming customer initiatives and monitoring what local competitors are doing
- Initiating changes to improve the business, e.g. revising opening hours to ensure the store can compete effectively in the local market
Saturday, 30 July 2011
Retail Mathematics
1) Gross Margin
GM % = (Selling Price - Cost) x 100 / Selling Price
Example: You sold an item for $49.95, and the cost of the item is $30.00.
GM % = (49.95 - 30.00) x 100 / 49.95 = 39.94%
2) Mark UpMark Up % = (Selling Price - Cost) x 100 / Cost
Using the above example,
Mark Up % = (49.95 - 30.00) x 100 / 30.00 = 66.5%
3) Weeks of Stock
Inventory (at retail) divided by average weekly sales for a given period of time.
So, if you have $8,000.00 worth of inventory in one product, and your total sales of that product for the past 6 weeks is $12,000.00 the calculation would look like this:
$12,000.00 divided by 6 = average weekly sales of $2,000.00
$8,000.00 divided by $2,000.00 = 4
This means that if you did not replenish your inventory and sales continued at the same pace, you would deplete your inventory of that product to zero within 4 weeks.
Friday, 11 March 2011
Understanding the Retail Planogram
The planogram is a visual diagram, or drawing, that provides in detail where every product in a retail store should be placed. These schematics not only present a flow chart for the particular merchandise departments within a store layout but also show on which aisle and on what shelf an item is located.
Wednesday, 9 March 2011
Starbucks meets Tata for coffee
The US-headquartered Starbucks Coffee Company is finally entering India by signing a memorandum of understanding (MoU) with Tata Coffee Ltd, a subsidiary of Tata Global Beverages (formerly Tata Tea).
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