Beginners' Guide to Retail Management

Course description

‘Retail management’ deals with the day-to-day activities of a physical store. This course covers the principles and practices used to manage employees, customers, inventory and more. Retail management is constantly evolving as new technologies and techniques are constantly being developed to keep up with customers' changing needs. We identify different kinds of customers that come into a retail store and explain how to manage your team effectively to keep your business running smoothly. We begin by introducing you to some of the primary concepts involved in retail management and then move on to discuss how they are applied in real-world situations. We lay out retail strategies and compare centralised and decentralised buying before examining home shopping, the buying cycle and more. We then delve into pricing and the factors that influence it to help you manage supply chains in retail.

When managing a retail store, it's important that you ensure your customers can find what they want when they want it. It's also important that you track sales and understand how your products are selling so that you can adjust your strategies accordingly. We explore consumer behaviour and demonstrate how to interpret it to deal with issues that may arise and appreciate its impact on the success or failure of a store. We study the concept of trends, their importance and how you can use them to successfully target customers and boost sales. The course teaches you how to talk to customers and manage customer relations. We establish the importance of a store location and explain how to choose a location, what sort of locations are best and issues that can arise from certain sites. We cover retail psychology and how to negotiate the right deal with suppliers.

The presence of a security system in a store makes customers feel safe while making purchases. We discuss the various types of security used in different stores, the basics of security and what to do when things go wrong. Well-trained staff are key to ensuring customer satisfaction and we show you how to choose the right team and communicate with it. We explore the role of brand management and marketing in retail before examining various Consumer Rights Acts and health and safety regulations and practices. This course is designed for business owners, entrepreneurs and anyone interested in moving upward in the retail industry. A skilled retail manager can make the difference between a store failing or thriving and retail management can be a challenging but rewarding career that offers many opportunities for advancement. So sign up to learn how to run a retail store with your newfound knowledge of the many aspects of what goes into ensuring that your satisfied customers come back again and again.