Archive for the 'Tools' Category

Programs for Higher Retail Success

Upcoming Webinars/Online Training Sessions

No scheduling issues. Ever.

Guaranteed…because we send you the recordings.

You and your teams are busy, busy, busy, right?

We totally understand. So, if you desire to get some great information huge insights, great tips and serious advice from experts but you simply don’t have the time to invest days, or even several hours, in training and learning then we’ve got the answer for you.

Our Online Training Sessions, also known as Webinars are jam packed with important information, tips and advice on myriad retail topics and they are always scheduled for only one or two hours… tops!

They’re informative and affordable. They’re easy to log into and they’re over-the-top convenient. Here’s the most important part for those of you who are time starved and feeling bombarded by information everywhere you look…

You never miss a session because…we send you the recording! You choose when and where to ‘attend’.

It doesn’t get more convenient than that.

3 simple steps.

  • Register.
  • Choose to Attend or Choose Not to Attend.
  • Receive the Complimentary Recording.

Simple log in details are sent 24 hours prior to the session.

Here’s the line-up for the week of September 4th…

 #1. Get 25% More from Store Visits

Just $97

Store visits represent an amazing opportunity…in fact, the very best opportunity…to increase performance and effectiveness, motivate store teams, impart wisdom and remove obstacles to doing business. If you and/or your Regional and District Managers are not getting the maximum value from store visits, then you are just visiting…which is really nice but it is not moving the business forward and doesn’t give you much of an ROI.

Learn how to get at least 25% more from every store visit.

September 7th

from 1:00 – 2:00 p.m. Eastern

(6:00-7:00 p.m. London, UK)

Register here for Store Visit Webinar.

Get the complimentary recording.

 #2. Retail Math Online Training

 

Just $197 

Retail Math is considered an integral part of a Retail Manager’s skill set and can be found on many pre-employment screening tests.

September 7th

from 1:00-3:00 p.m. Eastern

(6:00-8:00 p.m. London, UK)

Register here for Retail Math Webinar.

Get the complimentary recording.

#3. Retail Category Management

Just $197

Learn how to increase profits by effectively managing categories based on your customer and market.

Category Management Highlights:

Better In-Stock Rates: 2 – 8%

Lower Inventory Levels: 10 – 40%

Higher Sales: 5 – 20%

Lower Logistics Costs: 3 – 4%

Retail Category Management Online Training is useful for all buying staff, including category managers, buyers and visual merchandising teams as well as for Suppliers of Retail.

September 8th

from 1:00-3:00 p.m. Eastern

(6:00-8:00 p.m. London, UK)

Register here for Retail Category Management Webinar.

Get the complimentary recording.

 #4. 7 Top Tips to Maximize Your Retail Profits

Just $97

7 Top Tips normally only divulged in our 3 day training program: The Retail Operations Management Workshop

September 9th

1:00 – 2:00 p.m. Eastern

(6:00 – 7:00 p.m. London, UK)

Register here for 7 Top Tips Webinar.

Get the complimentary recording.

 

Did you know that Exclusive Platinum Membership in the Retail Business Academy means you get All the Actionable Retail Information You Need – Wherever and Whenever You Need It?

Did you know that every one of our webinars is posted to the Retail Business Academy within a few days after the live session?

That means that you can always access them with your Exclusive Platinum Membership.

Store Performance Solution

With all the buzz around omni channel retailing, social marketing and new technologies that are either evolving or being implemented, one success factor remains the same and it always will.

That is the human factor that makes the essence of successful retailing.

Retail Success Accelerator addresses the performance of the store staff at associate, supervisor and the store manager levels.

Be assured that without fully competent, fully engaged staff, any other effort to increase customer satisfaction and ultimately increase profits, will be wasted or at best will not deliver its full potential. 

#1 Problem for Retailers is non-performing stores. In a lot of cases, stores do not perform even at their half potential.

This product solves the issue.., Your High Performance Delivered.

Retail Success Accelerator is a Store Performance Solution and you can put it to good use to ensure you get the maximum performance from your store staff.

More information is at its dedicated website: Retail Success Accelerator

Are you mobile market ready?

This infographics is a summary of the steps you may want to make sure your website is ready to service the mobile surfers.

AreYouMobileMarketReadyDMSRetail

2 Most Critical Positions in a Retail Company

“Control your own destiny or someone else will.”      – Jack Welch

The Store Manager holds one of two critical positions in any retail company. The other one is the CEO.

That’s not to say that other positions aren’t important. Of course they are.

Sales Associates, for example, are your ambassadors; meeting the customers face to face every day. And, as you’ve probably come to realize, the best Sales Associates are the ones who are competent and fully trained and do a great job actively selling to customers and representing the company in the best possible way. Certainly, they are important.

But, there is one person who must ensure that all of the competence and training is put to good use on the sales floor. That person is the Store Manager, without whom there would surely be chaos. It is up to the Store Manager to set individual targets and to continually reinforce the performance culture in the store.

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“A pack of sheep led by a lion will defeat a pack of lions led by a sheep.” Author Unknown

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A true statement? We think so.

The Store Manager is, by virtue of his/her position if nothing else, the leader of the pack. That leader is single-handedly responsible for the performance of the team because, apart from the fact that it’s the job… the Store Manager is also the one with the most influence.

The most direct influence, for sure.

No matter how skilled the team members are – and it is understood that some will be much more skilled than others – the Store Manager will make the difference in the performance levels achieved by the whole team.

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The Retail Success Accelerator

is available in physical and digital formats.

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Store Manager’s official job descriptions vary widely. Some are expected to be administrators; others, loss prevention officers, or faux police. Some are expected to be the top sales person and are seen (erroneously) as under-performing if their salespeople achieve higher sales numbers than they do.

Still others are instructed to do so many simple administrative tasks that they are left with very little time to actually manage the store.

In other words, many Store Managers are not expected to fulfill the role as it should be fulfilled.

For whatever reason, they have been given a title of Store Manager but are expected to perform many routine tasks and clerical work.

Critical question for you:

What are you asking of your Store Managers?

If you expect your retail organization to be successful, you are asking them, simply, to manage the business.

But, what does that mean, exactly?

The Store Manager’s main role is to drive the business; to strive for top performance from themselves and from every associate every minute of every day.

Store Managers operate stores, or business units, and, when all is said and done, the goal of a ‘for profit’ business is to provide a monetary return to stakeholders.

In support of that goal, they need to do a lot of work; they need to do all of the right things right. Store Managers, who are doing the job properly, are very busy people.

They recruit and hire good people because they know that the road to success is much easier when they are surrounded by competent people. They ensure each associate is well trained to carry out their responsibilities. They set targets for each associate and continually follow up to make sure those targets are being met.

They coach, and they guide, and they stay on top of everything.

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Get the Retail Success Accelerator here.

$697 Physical/Shipped; $297 Digital; Both $747

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Very importantly, they take appropriate action when targets are not being met. They figure out what is causing the problems and fix them.

Of course, there are many things the Store Manager is responsible and accountable for. But all of those things must be in support of the goal, or the main purpose for the store’s existence.

Great Store Managers are your ticket to extraordinary success in retail.

All the Success!

DMSRetail Inc.

PS: Want great Store Managers? Here is the best thing you can do to support your Store Managers. Hand over the complete store performance solution…the Retail Success Accelerator. $297 digital. Click here to order.

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Take the Retail Math Quiz

Do you know all about GMROII, GMROF, GMROL, Fixture Profitabililty, Inventory Turns and more?
Test Your Knowledge – Retail Math Quiz
Even if you know all about the GM’s…why not take a refresher? Have some fun!
Okay, here goes….

Test Your Knowledge – Retail Math Quiz

1.) What are the 6 Pillars of Retail?

2.) A product’s retail price is $79.95 and it costs $42.00. What is the Gross Margin of this product?

3.) What is the Mark-up for the same product?

4.) A store’s annual sales are $3,560,250. Monthly inventory is as follows:

Month

BOM

EOM

January 1,455,764 1,210,357
February 1,210,357 1,050,894
March 1,050,894 975,620
April 975,620 1,125,735
May 1,125,735 1,024,563
June 1,024,563 967,446
July 967,446 896,278
August 896,278 1,383,369
September 1,383,369 1,432,911
October 1,432,911 1,791,876
November 1,791,876 2,687,987
December 2,687,987 1,375,218

Based on these numbers, calculate the inventory turns for the year.
Hint: Calculate Average Inventory first.

5.) Utilizing the already calculated Gross Margin, Sales and Average Inventory, find out what the GMROII would be for this store, for the same year.

6.) We want to utilize GMROF to compare two display fixtures of different design:

Fixture 1: Oval shape with merchandised area of 7.65 square feet. Sales generated from this fixture in one month are $3,465 and Gross Margin on those sales is 43.5%.

Fixture 2: Rectangular shape with merchandised area of 7.20 square feet. Sales generated from this fixture in one month are $2,987 and Gross Margin on those sales is 45.6%.

Which fixture is more profitable?

7.) We want to compare the contribution of staff between two stores. Here is the data we have:

Store Sales This Month Gross Margin Total Payroll
1 $270,500 44.7% $44,895
2 $343,750 42.5% $55,280

Which store’s staff is contributing more?

8.) Here is some store data collected through POS and Traffic Counters:

# of people who entered the store – 1,362
# of sales tickets generated – 398
Total number of units sold – 724
Total payroll for the same period – $3,842
Total sales generated – $34,548

Calculate the following:

1. Conversion Rate
2. Average Sales per Transaction
3. Units per Transaction
4. Wage Cost

9.) Here is the overall company data for the 3rd quarter sales:

Month Sales Last Year % Achieved Target % Achieved
July $2,074 $1,926 $2,022
August $1,866 $1,792 $1,882
September $2,672 $2,503 $2,628
Total Q3 $6,612 $6,221 $6,532

Calculate this year’s performance compared to Last Year and compared to Target for each month and for the 3rd Quarter.

That’s it. How did you do?

Scroll all the way down when you go here to see the answers.

We hope you enjoyed today’s challenge.

You and Retail Management Resources

“The best way to predict the future is to create it.” Peter Drucker

Create It Using Exceptional Resources!

You’ll likely agree that there are resources, in this world, that we really wouldn’t want to do without.

A dictionary, for example.

Imagine how frustrating it would be to hear a word that you didn’t recognize which, possibly renders a whole sentence or paragraph unintelligible to you, and not have a way to get the definition and understand the word and context.

How would you proceed? How would you take action if it was required of you?

You may find you could not do it.

We have to understand if we are to act appropriately.

Another well used resource is a medical text. Doctors have to learn as much as possible about the human body and how it works; about symptoms of every disease, condition, therapy, etc. They must have a reliable resource to consult when necessary.

How would the Doctor ever graduate from Medical School without using all of the resource materials at his disposal?

Accountants and Legal Professionals all consult volumes of texts and reports and case studies in order to gain their degrees and go on to do their jobs properly.

Skilled Tradespeople learn through books, apprenticeship programs and other resource materials in order to become licensed in their field.

Every profession needs resources available to them for study, and for future reference, regardless of what stage they are at.

Retail Managers are no different.

Trying to function well in their positions without resources is bound to be frustrating and not terribly productive.

Colleagues and Superiors are certainly excellent resources but they do not stay put and cannot be relied upon absolutely every time they may be needed. They have their jobs to do, too so as much as they may want to help….they just can’t always be there.

Perhaps you didn’t need any additional resources when you started out. You knew everything and did everything your way, right or wrong.

But, when you are in growth mode, you definitely need more sophisticated help.

Growth requires that certain systems, processes and procedures are in place and working well.

We’re not talking about red-tape and bureaucratic hold ups. There is no room for any of that in a fast moving, successful retail operation.

We’re talking about the disciplines, the principles, the consistency, the fairness and reward systems. We’re talking about performance management that works instead of fly-by-the-seat-of-the-pants coaching and employee evaluations.

What resources will you provide to the people working in the stores, the districts, the Head Office?

How will they function at the top of their game?

And, your high performing individuals will need reliable resources to help them get the knowledge and skills they need to move them to the next level in the organization.

A super Sales Associate will need help and training to move to Department Supervisor, or whatever that next level is in your organization.

An Assistant Manager will need resources to learn from so that s/he can take the helm of a store.

You won’t be able to avoid the pitfalls of growth without the required preparation. And, for that, you need to get hold of serious retail management resources.

Increase your chances for positive outcomes…

Become a member of the Retail Business Academy. Below, we spell out the products, services, systems and advice you get access to for just $97/month.

You have access 24/7…at your leisure.

And, of course, you can cancel your membership in the Retail Business Academy at any time.

For those of you who want to share information and offer the very best chance of growth and development to your people, get them their own membership in the Retail Business Academy.

Volume Discounts on Memberships

Invest in their future to give them the skills to invest in yours. We offer volume discounts on our memberships so it’s easy and painless to upgrade the skills and capabilities of your entire workforce.

First, let us tell you that absolutely everything that DMSRetail offers for sale, is included in the Retail Business Academy.

Plus, there are many more products included that are not available for sale anywhere.

And, we’re growing it every day making your Platinum Membership more and more valuable. We’re working day and night to get new stuff uploaded for you.

This membership will offer new and different things to you all the time.

You’re going to have access to a wealth of different things, such as…

  • Success Guides
  • Tools
  • Study Courses
  • Performance Solutions
  • Information
  • Tips
  • Advice
  • World Retail News
  • Gems
  • How-To’s
  • DVD’s
  • PowerPoint Presentations
  • Pearls of Wisdom
  • Forms
  • Checklists
  • Videos
  • Consultants
  • Instructors
  • Motivational Quotes
  • and other seriously good stuff

Special Platinum Membership Benefits

Discounts on Workshop Attendance

  • The Retail Operations Management Workshop
  • Retail Category Management Workshop
  • Retail District Management Workshop
  • Retail Math, Metrics & KPI’s Workshop
  • Store Management for Maximum Success Workshop
  • Retail Design & Visual Merchandising Workshop
  • Retail Marketing & Brand Management Workshop
  • Cashier Etiquette & Performance Workshop

Access to Consultants and Instructors at DMSRetail via email

Scheduled telephone conversations with DMSRetail Consultants and Instructors

All of this is being brought to you by DMSRetail – a company that has been in business since 1991; on the web since 2003.

So, check out this link to the Retail Business Academy. You won’t regret having your own Platinum Membership.

It’s the best $97/month investment you’ll ever make. If you’re in retail, you really have to have this.

All the Success!

Director

Retail Business Academy, Membership

DMSRetail

PS: We sincerely look forward to counting you as one of our Retail Business Academy members. Join now.

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