What will you learn?• New ways to analyze Store Performance!!• Basic terminologies of Retail Management and operations!!• Proven and practical ways of increasing sales!!• How to use personality types and body language to your advantage!!• Career opportunities inside Retail Industry!!
cut off a pieceThe word retail is, in fact, derived from theFrench word retailer, which means to cutoff a piece or to break bulk.
RetailingIncludes all the activities involved in sellinggoods or services directly to the finalcustomers for personal or business use
Retail StoreAny business enterprise whose sales volume comes primarily from retailing
RetailingAny organisation selling to the final consumer is retailing whether they are• A Manufacturer• A whole saler• A Retailer
5 Minutes HISTORY OF RetailAfter 2nd world war retail industry started to grow in U.S.A.Retail is the largest private industry in the world with total sales $6.6 trillion.
INDIA• Birth 80‘s retail outlets and supermarket• 1995 liberalization
INDIAIn India retail is the second largest sectorafter agriculture. It provides employmentto 8 % of the total Work force of thecountry.
INDIA• India has the largest retail density in the world• 12 million retail outlet for a population of over a 1000 million• India rank 5th among the 30 emerging retail market in developing countries
FUTURE OF RETAIL IN INDIA―Every month we are opening up to 12 stores and the number till today ,has actually gone up to 239 and our overall turnover is Rs 600 crore.‖T.K. Salim ,founder― Margin Free,‖ a Kerala –based groceries and discount store
Get the Basics Right……..• Retailing is a hard business• The floor staff stands on its feet for up to nine hours every day.• The job of the salesperson on the floor is physically exacting and emotionally draining
MALL OPERATION SCHEDULE• Mall Timing : 9 AM –9 PM 12 hrs• Cleaning Time : 6 AM-9AM• Diesel Delivery : 7AM-9AM• Escalator/Lift Repair : 11 PM-7 AM• Garbage Disposal : 7 AM-8AM• Electrical Breakdown : 24/7• AC Maintenance Work : 7AM-10 AM• Plumbing Work : 11 PM -7 AM
100 TIMES BEFORE SLEEP―PROMOTE YOUR STORE‖S NAME ,NOT THE NAME OF THE MANUFACTURER‖
RESPECT THE FLOORSAstute Retailers Will Walk The Floors Every Day. InA Customer Service-oriented Retail Outlet, TheSupervisory Staff, Managers, Directors Or TheChairman Of The Company Will Walk The Floors.
HOW TO LOSE A CUSTOMER?STORE PERSON ON PHONE WHEN ASSISTANCE NEEDEDSTAFFS - DIRTY / SMELLYINCONVENIENT STORE ARRAGEMENT―STORE DON‘T HAVE WHAT I WANTED‖NO PRODUCT KNOWLEDGEWAITING IN A LONG LINE
HOW TO LOSE A CUSTOMER?...ConADVERTISED MERCHADISE NOT ON STOCKIGNORED BY SALES EXECUTIVESALES PEOPLE ( PUSHY)NO ONE AT THE CASH COUNTER
EXERCISE:REALITY CHECK!DURATION :1 HOURMonitor the people coming in and those whopurchased.Make a mark on a piece of paper for everyperson who comes in.For a family of five- 5 marks.After an hour, note your conversion rateFORMULA:(the number of sales you made in anhour ) // the number of customers who came in
!!Accept it!! Talent and skill are scarce. It is sensible to hold quality staff, always. Arrogance proclaims, There are a billion Indians; we can always find another salesman.Sense states:You may find another candidate, but not a good salesman.
THE FUNCTION OF RETAIL SALES EXECUTIVETODAY, AND EVEN TOMORROW, IS "RESALE "NOT SELLING!In other words ..Your function is helping the retailer (and the wholesaler, too) to move his companys inventory
60‖ Selling Course Did you see this?(No pressure Closing Technique)• It‘s a great opening line• It‘s a great transitional line• It‘s a great closing line Repeat 3 times• Did you see this? Did you see this? Did you see this?
SELLING VS NOT SELLINGCustomer walks in………………………. ……………….Employee: How are you today? Looking for anything special?‘‘Customer : ‗‗No,‘‘ and looks around alone.After awhile, he asks the employee, ‗‗Do you have this ?‘‘Employee: ‗‗I do, right over here.‘‘Customer: ‗‗I‘ll take it.‘‘ This is not selling
True selling is going after the whole tree, not just picking what you can reach without effort
TOOLS FOR MEASURING SALES• ATS: Average Ticket size• UTS: Units per transaction ~The higher the number ,The Stronger the sales person
8 WEEKLY REPORTS1. AVERAGE CHECK—the value of each customer that day.2. NUMBER OF TRANSACTIONS (also called customer count)—the number of total sales tickets that were generated each day.3. WEEKLY SALES BY CATEGORY—your top and bottom five categories to help establish buying trends.4. WEEKLY SALES BY SALESPERSON—how much each employeecontributes to sales per week.
8 WEEKLY REPORTS5. YEAR-OVER-YEAR BY WEEK—how you are doing compared to the same week of the previous year.6. YEAR-OVER-YEAR TO DATE—a running total of your year-over year sales to help you see the bigger trends in sales.7. NUMBER OF UNITS PER TRANSACTION—how well your crew can up sell.8. NUMBER OF VOIDS—will alert you to a thief among your sales staff.
PLO: This rule is simple and sad4 percent of all customer who visits your store belongs to…..P:PushyL :LoudO:ObnoxiousYou will never please them!They wont buy from you!!
UNCOVERING TIPS AND TRICKS OF THE TRADE More than 40 percent customer who enters into any retail store ACTUALLY BUY SOMETHING
WARNING!!!• Do not judge a person solely by their body language.• Dont isolate yourself by constantly examining body language when interacting with people. Otherwise, there is no reason to gain a social upper hand anyway. This is paralysis by analysis• Do not spend too much time looking at and analyzing the other persons body language. Try to look at their face while you are talking to them
TIPSONE Observing in CONTEXT is key to understandingbody language.TWO Keep in mind that each person has their ownunique body language called BASELINE BEHAVIORSTHREE Pay special attention to CHANGES in body language rather than the body language itself.