Retail Management – Management Notes – For W.B.C.S. Examination.

It’s the process of bringing the ultimate user to main producer through a series of stages where retailing is the last one. It helps customers to produce the desired merchandise from the retail stores for their end use refers to retail management.Continue Reading Retail Management – Management Notes – For W.B.C.S. Examination.

Retail management is something that includes all the steps that are demanded for bringing customers into the store and satisfy their buying needs.

Things you need to know about retail management:

• It’s important for a retailer to keep record of all the products coming into their store.
• All the products must be well arranged on the assigned shelves according to size, colour, gender, patterns etc.
• Ensure to plan the store layout well.
• The different range of products available at the store should be divided into small groups comprising of similar products. These kinds of groups are known as categories. This is something that can help a customer simply walk up to a particular category and look for products without much assistance.
• A unique code must be assigned to each and every product that can in-turn help in easy tracking.
• Labels must be put on the shelves for helping customers locate the products they’re searching for.
• Make sure you don’t keep the customers waiting.
• Ensure that your sales representatives attend the customers well, assist them in their shopping and also greet them with a smile.
• The retailer must ensure that there is enough stock available at their store.
• Make sure that the store is kept clean. Also, don’t stock unnecessary furniture in your store as it gives a cluttered look. Ensure that the customers are free to move all around the store.
• Ensure that the store manager, department managers, cashier and all other employees should be trained from time to time so that they can get the best out of them.
• The employees should be well aware of their roles and responsibilities and should be customer oriented. Your staff should be experts in their respective areas.
• The store manager should maintain daily sales reports to keep a track record of the cash flow. There are various software that can help in maintaining the records
• Ensure to create an attractive display.
• It’s important to maintain things well in advance for avoiding confusions later on.

The basic characteristics of a retail trade are:

(i) It consists of outlets as shops from whom the consumers ultimately buy – 

(ii) It involves selling final consumer products to the households; and

(iii) It is the selling of goods in small quantities to the ultimate consumers.

A retail trade, being closely associated with the consumers, occupies a strategic position in the whole system of distribution. The services to the consumers in particular and to the society in general are the essence in a retail trade.

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