How to Manage your Retail Store

A retail Store is a place where the decisions regarding the purchase of a product is taken by a customer. A retail store is also responsible for the creation of perception in the minds of customers about a particular brand, product and staff. A retail store is one of the biggest investments for a retail chain. But, this investment is in one of the highest paying assets.

Managing the operations of a retail store has always been a challenging task for the businesses of every scale and size, be it a grocery shop or a national or international retail chain. A store operations manager has to manage many roles like:

– Maintaining Store Atmosphere: The store must reflect a positive and encouraging ambience to the customer. It is the duty of the store manager to offer an easy and comfortable shopping experience. The ambience of the store should not confuse the customer in any form. A cluttered and unorganized store can prove to be very dangerous for the business.

– Handle the cash: One of the most important tasks is cash handling. It is essential for the retailers to handle and track the cash and profit and loss.

– Maintaining the Store Security: It is the duty of the store manager to maintain the store security. For this the Store manager can install CCTVs and cameras. It should be taken care that each and every product and merchandise has a security tag. And not only the products but the customers must also feel safe in your store.

– Providing Customer Service: Everybody knows that an unsatisfied customer is the biggest loss a company can bear. Customers are the biggest assets for a company. Thus, a business can never compromise on the quality of the goods and services. It must always be at the service of the customers and must take time to time feedback.

– Formulate proper refund policy: A store manager must formulate proper concrete refund and return policies. The store must mention the exchange timings to the customers and also the refund policy in lieu of the product returned.

– Conduct Training Program: A store manager must conduct training exercises regularly. It is the duty of the store manager to make the store staff aware of the latest software products in the retail industry.

– Managing the inventory and stock: It is the duty of the store manager to manage the inventory so that he is never out of stock. He must maintain the warehouse of the outlet and take adequate steps to avoid any loss of stock.

Thus, in a nutshell, managing the Retail Store Operations is one of the greatest tasks. It is about determining how the tasks pertaining to the store operations should be performed. Store administration must be on the priority of every retail store chain.

Managing the operations of a Retail Store is undoubtedly, a very strategic task. You must know the intricacies of the task. Catering to the same EduKart provides a certificate course in Retail Store Operations. The course covers the topics like Communication and Customer Handling, Pricing, Promotions and Markdowns, Stock and Inventory Management, Supply Chain Management, Key Store Operations and ERP, Measuring Retail Performance, Retail Strategy and FDI among others. The course is RAI certified and is highly recommended for the people who are looking forward to a career in the field of retail store.

For more details, visit Certificate Course in Retail Store Operations

Tanvi Wadhwa, is associated with India’s Leading Online Education Portal as Community Manager. Tanvi is a graduate in commerce and holder of Post Graduate diploma in Business Journalism and Corporate Communication, from the University of Delhi. She has written many articles on the subject of Online Education, its benefits and its author try to focus on Certificate Course in Retail Store Operations