Retail Store Operations

Cash Handling

• One of the most important aspects of retailing is cash handling.
• It is essential for the retailer to track the daily cash flow to calculate the profit and loss of the store.
• Cash Registers, electronic cash management system or an elaborate computerized point of sale (POS) system help the retailer to manage the daily sales and the revenue generated.

Prevent Shoplifting/Safety and Security

• The merchandise should not be displayed at the entry or exit of the store.
• Do not allow customers to carry more than three dresses at one time to the trial room.
• Install CCTVs and cameras to keep a close watch on the customers.
• Each and every merchandise should have a security tag.
• Ask the individuals to submit carry bags at the security.
• Make sure the sales representative handle the products carefully.
• Clothes should not have unwanted stains or dust marks as they lose appeal and fail to impress the customers.
• Install a generator for power backup and to avoid unnecessary black outs.
• Keep expensive products in closed cabinets.
• Instruct the children not to touch fragile products.
• The customers should feel safe inside the store.

Customer Service

• Customers are assets of the retail business and the retailer can’t afford to lose even a single customer.
• Greet customers with a smile.
• Assist them in their shopping.
• The sales representatives should help the individuals buy merchandise as per their need and pocket.
• The retailer must not oversell his products to the customers. Let them decide on their own.
• Give the individual an honest and correct feedback. If any particular outfit is not looking good on anyone, tell him the truth and suggest him some better options.
• Never compromise on quality of products. Remember one satisfied customer brings five more individuals to the store. Word of mouth plays an important role in Brand Promotion.

Refunds and Returns

• Formulate a concrete refund policy for your store.
• The store should have fixed timings for exchange of merchandise.
• Never exchange products in lieu of cash.
• Never be rude to the customer, instead help him to find something else.

Visual Merchandising

• The position of dummies should be changed frequently.
• There should be adequate light in the store. Change the burned out lights immediately.
• Don’t stock unnecessary furniture at the store.
• Choose light and subtle colours for the walls to set the mood of the walk-ins.
• Make sure the signage displays all the necessary information about the store and is installed at the right place visible to all.
• The customers should be able to move and shop freely in the store.
• The retail store should be well ventilated.

Training Program

• The store manager must conduct frequent training programs for the sales representatives, cashier and other team members to motivate them from time to time.
• It is the store manager’s responsibility to update his subordinates with the latest softwares in retail or any other developments in the industry.
• It is the store manager’s responsibility to collate necessary reports (sales as well as inventory) and send to the head office on a daily basis.

Inventory and Stock Management

• The retailer must ensure to manage inventory to avoid being “out of stock”.
• Every retail chain should have its own warehouse to stock the merchandise.
• Take adequate steps to prevent loss of inventory and stock.

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