When we refer to retail it can be a shop, a showroom, or counter, or even a kiosk, So It can be termed as the place where 2 or more people interact to buy/sell a product or service under a company umbrella. For eg Airtel store, or an Apple Store or Cars24 store.
Retail manager is the person who is solely responsible for his/her store, Following are Retail Store Manager main responsibilities:-
1)Target achievement: This is the most important criteria to run a successful retail store, A company business can run successfully only if store makes profit continuously, A Store manager must have to ensure that his team is either achieving or over achieving the assigned target to successfully run the store.
To ensure the same the store manager must divide the entire store targets into number of employees , For eg if a store has a target of 1 lakh rs and it has 5 employees then it should be divided among them equally i.e 20000 for each employee, and then it needs to be ensured that every employee is achieving his/her assigned target.
Secondly, he must track each employee performance through an organised system, so that employee performance could be measured, on the basis of which they should be eligible for incentive.
Thirdly, Store manager must review the performances and keep motivating his employees to achieve their targets , if some one is not performing he must be aware about the reason and he should get rid of those reasons immediately.
2)Profit maximization : No matter how much target you are achieving if your store is not profitable, all in vain. The store manager must ensure a decent percentage profit margin on each product sold by their team members.
He must also use marketing tactics like selling product on MRP's or on its premium price and
Cross selling(additional purchase with core item to increase sales value) and Up selling(purchase of expensive or the upgrade version rather than the basic or cheap one)
to make the sales numbers up.
3)Store management : it includes everything whatsoever takes place in a retail store including vendor management inventory management, visual merchandising, report management, target achievement and team management.
From store cleaning to visual merchandising to Planogram updates, everything comes under Store Management.
Some times an unhappy customer can try to tarnish the image of brand and the company, A manager must used his conceptual skills to deal in such situation.
To deal with such customer a manager must have knowledge of consumer behavior to avoid any further problems.
Store manager should be able to effectively handle the grievances in such manner where customer also get satisfy and Company SOP will keep remain intact as well.
4)Hiring Manpower: Now this is one of the most important factors of any retail store Because eventually, the store manager has to get done the work with his team members only and if they are not capable or skill enough it's hard to maintain the things in momentum, so it is necessary to hire the manpower as per the relevant experience and qualification.
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