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Dated: November 18th, 2011
The 2011 Retail sector… being a Store Managers in this post recession retail climate.
Retail involves the sale of goods or services at a market location. Retail as a sector is about the meeting of buyers and sellers at a marketplace. A market place is usually either a fixed location (typical shop), or remotely (online or mail delivery). Retailing is the enterprise of selling end-products to buyers by successfully marketing and advertising and selling at places exactly where buyers are often found. Retailing also consists of subordinated services, for example installation or delivery. The retail sector employs well over 5 mill people in the UK, with the eCommerce sector with the retail employment niche showing steady growth. Evidence is showing that in spite of the recession, retail is not doing too badly. The question is why? Retail sales and retail vacancies are holding up, but how does this reconcile with the 50% discounts and half-price sales and promotions we see in the high street? Profits. Profits are sacrificed in the name of operational activity and reporting metrics like employment figures and sales turnover. This is not such a bad thing and certainly not unique. In the construction industry, builders will quite often take on a build that will not make money, just to keep operations going and staff employed. So that said, how does the store manager cope in today’s tough economic climate?
Firstly, though, lets look at what a store manager does as a job…..
A outlet manager may be the person ultimately responsible throughout the day-to-day procedures of the shop. All employees employed inside the shop report to the shop manager. Duties of the store manager can include: Retail outlet management, service administration, customer management, Human Resources, and staff members management and coaching. Store manager jobs – the day-to-day duties commonly involves the following core duties of managing the shop to ensure that it runs smoothly. This will include having to manage a number of job responsibilities including: -successful product positioning throughout the store to ensure that customers are adequately exposed to the store’s offering. Open hours – adequate staff on supply to ensure that the store is open at peak trading times. Inventory Management to ensure that adequate stocks are available at peak shopping times. Ensure that the store is adequately financed with cash low to ensure the successful running of the stores, not only on the tills etc, but also on the ability to purchase materials. Typically stores do not struggle with cash flow as most store take cash or card as payment. Petty cash management and theft then becomes an issue. With the smaller shop, the store manager’s job may include: Product management, including ordering, receiving, expense alterations, handling broken items, and returns. Team Development, assisting staff studying and development. Human Resources which is a varied discipline and includes recruitment, employing, training and development, efficiency management, payroll, and day-to-day staff management