Retail Managers, Are You Across This? | Retail Management.

As a manager in retail, the holiday season is generally the best time of the year for your store from a financial standpoint, but personally, it can be somewhat stressful. Although, I don't believe the latter is necessary, as carefully planning for the season in advance, accounting for the following three factors will be sure to make things run smoother - after all, these factors are the exact reason you're in your position right now. 

1. People

The people who make up your operation, your staff, need to be your first point of interest and your number one priority. The holiday season is tough on them, just as it is for you - let's genuinely get into the festive spirit, and gamify at every opportunity. Make work fun, add some meaning to what once considered a trivial task. Here's a few idea's to get you thinking...

 -  Set up small, light-hearted competitions with other stores. Sales goals? Shrinkage rates? 

 - Rewards, even the most trivial rewards cultivate moral. 'Tis the season of giving, isn't it? 

 - Tack in staff bonding/building opportunities with training - you'd be surprised at how galvanising a few drinks after work can be for a team preparing for battle.

2. Operations. 

NOW, NOW, NOW is the time to be organising this! Here's your short list.

1. Rostering - who exactly is working over the holidays. Pick your staff appropriately, cater for the surge in foot-traffic. 
2. Stock - Do not let profits go begging on the back of inadequate stock forecasting. 
3. Loss Prevention - Shrinkage cost Australian retailers 1.6 billion dollars over the holiday season alone in 2016, are your in-store loss prevention measures up to date and in place? 
4. Opening Hours - Are your trading hours defined and published for both your staff and the public to see? 
5. Training - Prepare your team to operate under stress like a well-oiled machine, this process MUST begin now. 

And finally - Profits

It's inevitable that foot-traffic will be on the rise throughout the holiday period. Ensure your staff help you capitalise, enlighten them to suggestive selling techniques or increased customer service measures. Think of it this way. Are they selling the jeans only, or the whole outfit? What about that Ipad, it needs a case does it not?

Your staff are hopefully (and should be) doing this already, but value-adding for customers must become a priority - this is often made easy by touching on this throughout meetings and training.

Every manager is in their position for no other reason than their capability to run the ship. However, it's important that strategic planning avoids constant operational discrepancies, unnecessary staff issues and the early onset of grey-hair...

If you'd like some further information about how your store can be best prepared for the holiday season, get in touch with us here - we're always happy to help :) 

Instore Team. 


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