Posts Tagged 'retail management training'

Retail Sales/Operations Management Workshop

We are conducting our next workshop in Cancun Mexico. You can enjoy the beautiful weather and a little bit relaxation with heavy discussions on how to take your business to the next level.

This workshop is known to produce double digit increases once the techniques and methods taught properly implemented.

Content is solid and comes from actual operational experience of the DMSRetail Consultants.

More information and registration can be found on this page: http://www.dmsretail.com/retailtraining.htm

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Retail Benchmarks

Introducing our Brand new 2 day Seminar coming to Dubai…

Retail Benchmarks 

We Show You How to Get There: Follow the GO Road

Experience Success… Like You Never Have Before

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What is the Real Source of Turnover in Retail?

All retailers know that high employee turnover is a major problem in the industry. For retailers in regions where employee turnover is very low, a different problem exists…complacency and laziness.

ET should be whatever the executive has decided it should be.

Which of the following do you think has the most impact on ET?

a)     Low wages

b)     Physical demands

c)     Lack of family time

d)    Working through holidays when others have time off

If you said none of the above, you are correct.

The biggest impact on ET is bad management. Did you know that 49% of retail associates leave their retail position due to bad management?

True.

According to the Chartered Management Institute, 49% of the 3,000 people they polled said they had quit a position in the industry after being dissatisfied with senior staff.

That means about half of retail employees left jobs because of being badly managed.

We know that, very often, retailers promote staff to management positions even though they are not properly equipped for a management role. Some of them don’t even have a desire to be managers but accept the position for various reasons such as a higher paycheck, more authority, better shifts, more job security, or maybe even because, if they don’t, they won’t have a job. Many of these people refer to themselves as accidental managers.

Many will readily admit that they have had no management training; they really did not want the responsibility of managing people; and they don’t have any idea how to do it.

 People3

Retail Benchmarks Seminar

Click here  or scroll down for Program details.

April 26 & 27, 2017

Sheraton Dubai Creek Hotel & Towers, Dubai, UAE

Fast Track>>>  Register Now!
CMI director of policy and research Petra Wilton believes putting people without adequate skills, in charge of staff, can be severely detrimental to retailers’ businesses.

She says: “It’s no surprise the retail industry has a lot of staff leaving if it is not investing in training. Managers need skills and in some cases qualifications so they can do their job and keep staff.”

The fallout from this type of promotion strategy is high employee turnover (ET) and, of those who stay many are unhappy workers who make bad impressions on customers.

At DMSRetail, we know it is a fact that bad management practices become obvious to the customer through the service they receive, in addition to the appearance of the store.

Knowledge and tools are required to increase employee engagement while maximizing sales and profits.

Excellent management practices and, thus, engaged employees will make the difference on the top line, the bottom line, and everything in between.

Even though some people may be naturally adept at managing people, most are not and they need your help.

People management skills cannot be learned on-the-job alone. Promoting someone to a management position and then withholding training, advice and guidance is setting the scene for a disaster.

Sales and profits will not meet expectations, Employee Turnover will go up, store appearance will suffer, customers will be dissatisfied and the downward spiral will continue.

It’s a no-win situation.

So, always plan to promote from within when you have a candidate who is well trained and competent at managing your store(s) and managing your people, in particular.

But, don’t promote someone who is not capable just for the sake of getting someone into the position.

If a recruiter is sending you people who are not up to par…make your position and expectations clear and if they don’t improve, get a new company to do your recruiting. Simple.

Finally, train all managers and have a system in place for continuous improvement.

Choose training programs that will meet the needs of your organization.

Training sales associates is very worthwhile, but it should always come after management training. Otherwise, according to the statistics at the beginning of this article, possibly half of your associates – the very people you have invested time and money in – will leave.

Invest wisely for maximum ROI.

All the Success!

PS: The Program Outline for the Retail Benchmarks Seminar is below. Experience this Seminar and Case Study. Follow the GO Road! 

Program Outline:

  • Introducing the Case Study Store
  • Examining Performance Relative to Benchmarks
  • Development of Standards and Expectations to Meet Benchmarks
  • Why Adherence to Standards is a Critical Success Factor
  • The Effect of Compliance on the Operating Statement
  • Why Some Employees Don’t Meet Standards
  • How to Capitalize on Every Type of Store Visit & Resulting Action Plan
  • Reviewing the SVR from a Productivity Point of View
  • Monitoring for Benchmark Achievement
  • 7 Proven Follow up Techniques
  • Creating a GO Road to Excellence in Compliance & Execution in your Organization
  • Communication to Keep Everyone on the GO Road
  • Removing Obstacles on the GO Road
  • Scheduling for Wage Cost Compliance and Productivity
  • Effective Scheduling
  • Creating a ‘Happy’ Zero Tolerance Environment
  • Costing Schedule Adjustments
  • Spotting the Red Flags
  • Loss Prevention through Customer Experience Best Practices
  • Shrinkage: External, Internal and Paperwork Errors
  • Awareness of Surroundings – Importance of Positioning
  • 10 Sure Fire Clues to Identify Shoplifters and Internal Theft
  • Safe Actions to Thwart the Thief
  • Q & A

Another scheduling note…

Seats are still available for the Dubai and London sessions of…

The Retail Operations Management Workshop It’s coming up fast…

in Dubai, UAE on

April 23-24-25, 2017

and

in London, UK on June 5-6-7, 2017

so don’t delay.

Don’t miss out on all of this and much, much more:

SYNERGY OF TOP SALES PERFORMANCE, GREAT CUSTOMER VALUE MANAGEMENT AND PERFORMANCE LEADERSHIP KNOW-HOW:

  • Strategy Maps to Top Performance in Sales and Profitability
  • How to Increase any Metric by 20% in Six Months
  • How to Sustain the Success Achieved and Build on It

Contact us today: Josephinehill@dmsretail.com for full Program Outline or to register.

Join us at the beautiful Sheraton Park Lane in London, UK or the Sheraton Dubai Creek Hotel & Towers in Dubai, UAE.

These locations always sell out fast so please don’t delay.

Fast track: Go here to register online for The Retail Operations Management Workshop. 
Quick links to Performance Solutions:

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All the Actionable Information You Need, Whenever and Wherever You Need It.

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 cropped-newheader780px.jpgRetail Management Consulting, Training & Services Company

Showing retailers the blueprint for successful retail operations since 1991.

DMSRetail Press Release – Singapore

DMSRetail brings 4 Top Performing Retail Management Workshops to Singapore – For the First Time! October , 2016 – Sheraton Towers, Singapore

Toronto, ON September 22, 2016 — DMSRetail, a leading Consulting, Training and Services company for progressive retailers, brings leading edge retail management techniques to Singapore for the First time.

Senior Consultant and EVP for DMSRetail, Matt Parmaks says “Over the past two or three years we have seen huge growth in our business coming from the South East Asian Market.

We decided it is the right time to offer our premium Retail Management training programs over there where people could attend without incurring the huge cost of travel that is usually associated with getting the benefits of leading edge retail management training.

From sophisticated retail business success methodologies and analytics to good, old fashioned customer experience strategies as well as performance management techniques that are so crucial for these tough times, DMSRetail brings it all together in a fast paced workshops designed for retail managers and retail business owners alike.

Another Senior Consultant with DMSRetail, John Callaghan says “Doing well in a retail business is not as straight forward as it used to be.

There are so many fascinating ideas and new techniques that retail managers and business owners need to be aware of in order to really excel in retail these days and we want to share all of this with our fast growing customer base in South East Asia.”

With the overall economical conditions the way they are, South Eastern Retailers are buying in to the fact that they must do more about investing in their knowledge, leading edge techniques and their people.

DMSRetail is seeing a sharp increase in interest in their retail management training programs. Details of the programs can be found at

RETAIL SALES/OPERATIONS MANAGEMENT WORKSHOP (October 17-18-19, 2016): http://www.dmsretail.com/retailtraining.htm

RETAIL BRAND & CATEGORY MANAGEMENT WORKSHOP (October 24-25-26, 2016): http://www.dmsretail.com/brandcatman.htm

RETAIL DESIGN & VISUAL MERCHANDISING WORKSHOP: (October 20-21, 2016): http://www.dmsretail.com/retaildesignworkshop.htm

RETAIL STANDARDS, COMPLIANCE & EXECUTION SEMINAR (October 27-28, 2016): http://www.dmsretail.com/retailstandards.htm

Don’t Miss These Game Changing Workshops!

To Your Success!

DMSRetail

www.dmsretail.com

Practical Solutions to Everyday Retail Management Challenges

In a nutshell, that’s what DMSRetail does. We provide practical solutions to your everyday retail management challenges.

Our Consultants, who have developed all of DMSRetail’s practical solutions, have all been in your shoes and we’ve figured it all out, many times, with great success.

Let us do the same for you.

Retail does not have to be difficult. Of course, it has it’s unique challenges. No one can claim it is simple but, certainly, the challenges are not insurmountable. In fact, it can be as easy as a walk in the park once the proper principles and systems are in place.

If your sales are down from last year…and way off target, and you need to figure out how to move them in the right direction, we tell you what steps you can take; we actually show you how to do it. We also advise you against taking steps that will lead to a downward spiral which many retailers are in the process of right now.

Maybe you realize that you don’t have the people in place who are able to drive your business to the heights you’re looking for. Well, we show you how to correct that situation. Or, perhaps you don’t even know that some of your people are causing your troubles…we’ll help you figure that out, too. We have a DMSRetail solution for you.

If your compensation plan isn’t working, we’ll tell you what kind of compensation plan you should have in place for maximum employee engagement and customer satisfaction. We’ll amaze you by running the numbers right in front of your eyes and you’ll have an aha! moment, for sure.

If your operation needs a complete overhaul and you have no idea where to start…we can do it for you. All you need to do is send us an email to get started…lift those burdens off your shoulders and look to us to help you solve your challenges.

There is no magic pill; no ‘one-size solution’ fits all; no quick and easy fix. What DMSRetail has for you is a wealth of experience spread throughout all of it’s Success Guides, Tools, DVD’s, Bundles, Study Courses, Ultimate Retail Success Program, Workshops and Consulting Engagements.

Get started with DMSRetail products and services and see what we’ve done to solve your most pressing issues. You really don’t have to reinvent to wheel.

Learn from experts and make it happen.

For starters, if any of your people – at any level – don’t understand the reason for Key Performance Indicators, or how the calculations are done and what action can be taken based on the results, then you need to get everyone a copy of Retail Math Made Simple, 3rd Edition. It’s only $14.95 and if you buy one for all of your staff, we”ll offer you a volume discount.

Your people must have this information or they can’t do the job properly. Without it, you’re just hoping for the best. And we all know that hope is not a strategy. This is a DMSRetail solution for you. Don’t wait another minute. Grab it.

Maybe your District Managers aren’t doing a great job as a leader; maybe they’re not getting consistently great results. The District Management YourTime Study Course needs to get into the hands of every single one of your District Managers, regardless of their tenure or ability. They will learn some new and different ways to build a cohesive team of Store Managers who execute properly and on time; a team of Store Managers who will do their very best for your company. The course is $247 for the digital version and, as I said, we offer volume discounts. This is a DMSRetail solution for you. Get this resource into their hands and watch things get better.

Why do some stores and some districts do so much better than others? After taking market conditions and location into account…the only answer is the people running them. You may want a +20% increase and your asking a -20% District Manager to give it to you.

What’s the sense in that?

First you have to elevate your -20% District Managers. If you don’t, don’t ever expect to get your +20%…it’s not going to happen unless you provide them with help. Not handholding or spoonfeeding. You don’t have time for that, nor should you. Try the DMSRetail solution.

If you want to guard yourself against disasters on your sales floor – meaning customer/associate interactions that go bad – then give your associates the Retail Selling Skills and Customer Service Fundamentals YourTime Study Course. Get one digital copy (at just $97) for each associate – and we’ll send it straight to their inbox.

You will only benefit, and you will never lose control because this course is designed to teach fundamentals and, during every step of the way, we instruct the associate to bring questions to their Manager to find out how they would like certain situations handled. We make them understand that their Manager will give them final answers but that the course is providing the groundwork so your Store Managers don’t have to go back to retail 101.

If you find that your challenges reach farther and wider than just specific issues, then you will want to get the Ultimate Retail Success Program. Naturally, it’s more expensive because of its rich and varied content, spread throughout a huge package  and because of the additional support we give you when you are an Ultimate Retail Success Program purchaser.  The ROI on this package is immediate.  This is a DMSRetail solution for you.Take advantage of the consulting call with one of our retail experts when you purchase this Program

We recommend purchasing an Ultimate Retail Success Program for each of your Field Management people, just to ensure they have the resources at their fingertips whenever they need it and, also, to ensure strategic alignment within the organization. Again, send an email to inquire about volume discounts.

So, you can see that we have practical solutions for your everyday retail management challenges and, also, we have practical solutions for your ‘not so common’ problems or challenges.

We want to help you as we’ve been helping retailers since 1991. We’d like you to feel that you can count on us to be your ‘go to’ retail management resource. But we know you have to have faith in us in order to do that.

We invite you to check out the many, many testimonials all over our website for social proof that we are what we claim to be. We welcome your comments and questions at anytime. We love to receive feedback from our subscribers, customers and Facebook friends.

All the Success!

DMSRetail Team

PS: Place your order for a DMSRetail practical solution to your everyday retail management challenges. And help will be on the way…today!!

PPS: For a list of all of our practical solutions, here is our Catalog for your review.

Join our Facebook community and if you like us, please ‘Like’ us. Thanks!

Disasters and Happy Endings in Retail: Two Stories

Throughout history, there have been many, many examples of people who have succeeded in a given field, or discipline, through the application of common sense, hard work, firm principles and, above all, great leadership skills.

In retail, this combination is rarely found. That’s not to say that there aren’t many exceptional people in retail – only that the particular combination mentioned isn’t seen very often. Great leaders apply the above, and much more. To lead a retail company, region, district or store is no small task. Many would argue that, because specialized degrees or formal education is not necessarily required, or indeed, even sought out when recruiting someone to run a store, district or retail organization, that anybody can do the job. I once met a person, who was searching for employment, who said  “Job hunting is so difficult. I can’t even get a job as a Store Manager, even with my qualifications.”

The individual who spoke those words had a college education, but had never held a leadership position in any job and had absolutely no retail experience whatsoever. That person, and many others, don’t think leadership skills play an important part in managing in a retail environment. They think pretty much anyone at all can successfully manage a store. I apologize if that comment offends, but, really, if you ask people that’s pretty much what you’re going to hear.

We, at DMSRetail, disagree whole heartedly, of course, and here’s why…

The retail business is all about people; people dealing with people. Though the hardships are many – long hours standing and walking around, schedules conflicting with family members’ schedules, sometimes getting too few hours to earn a decent living, or too many hours, often no benefits etc. – retail employees must soldier on. Or they leave.

The retail story is actually very big and quite complicated. While the process of selling products to customers is simple, the back story is fraught with problems that need to be solved. How a particular retailer solves those problems, day in and day out, will determine the level of success achieved.

To achieve at the highest levels, great leadership is required.

Let’s look at where it starts; let’s just take a single store owned by a single person. The person secures a location, finds a supplier for a product or many different products, gets the inside of the store all decked out with the latest and greatest fixtures and POS equipment, has a logo designed and gets a great sign outside, and the various other things that need to be done to get a store open for business.

On opening day, s/he is worn out but excited because the dream has come true – they took an idea and saw it all the way through to fruition. Often, the store owner works in the store and welcomes the customers; and does everything else too. In a short time, though, the owner realizes s/he can’t possibly handle everything, and can’t work 75+ hours a week. So, they start hiring. They hire one, or more, people to work in their store. And that is where their problems often begin.

Without really knowing how to recruit, hire and train, the store owner finds that the new hires really aren’t doing things the way they would do it themselves. The new store owner expects, and naively assumes, that the new hires will have the same common sense, direction and level of concern that they, themselves, have. Not so. And how could they? They weren’t part of the dream and they didn’t travel the long road of seeing it materialize. And they didn’t invest all of their money and time and effort into the creation of the dream. They have simply applied for, and landed, a retail job – probably at minimum wage.

Now, if we take this small scale example and blow it up to look at a retail chain, of course everything gets blown up. More stores, no passionate owners in the stores, lots more money invested, more policies and procedures to follow, perhaps an established reputation to protect,  and the list goes on.

So, although we can expect that more people know what has to be done, we also have much less control. We are managing remotely which is not easy. We simply cannot rely on every person in the organization to always do the right thing. That is, unless we have great leaders who have instilled a performance culture in the organization.

Of course, that’s no small task. A performance culture is painstakingly difficult to build, it must be nurtured, requiring constant attention to detail and it’s very easily destroyed.

Here’s a couple of stories about two different retailers whose experiences can teach us all…

The year was 1997 and this retailer had a chain of 50 stores. While sales had been fairly consistent for many years, things were going downhill. There was no particular culture and the brand wasn’t particularly strong. The company was faltering and bankruptcy was unsettlingly close on the horizon.

When the first store had been opened the owner had a success on his hands. Everything was right. Great product, great looking store and a great manager.  Building on that success a second store was opened, and then a third and so on. All the while, the owner was oblivious to what was actually going on in the stores. Sales didn’t suffer immediately, of course. Often that is the case.

If only we could point to a single decision; one particular thing that was done wrong to cause the downturn. But that rarely happens. Usually, it is difficult to connect those dots and, therefore, difficult to take corrective action. Sometimes one bad decision leads to another and another. By the time the downfall happens, no one has any idea whatsoever as to what really happened. The ‘root cause’ may never be identified.

Anyway, this particular owner had a lot at stake. His family had been supported by the small chain of stores for a few years and bankruptcy would take a heavy toll and destroy their lifestyle and any hope of a bright future. So, before it was too late, he set about figuring out what went wrong so he could a) stop it; and b) start moving in the right direction.

To find out what was wrong and how to correct and go forward, he had to do a lot of travelling, talking, listening and soul searching. This man had great leadership skills in him…but hadn’t, as yet, put them to work. Busy running around attending to details all these years, he forgot that people need great leaders.

*****
“A herd of sheep led by a lion will beat a herd of lions led by a sheep.”
Author Unknown
*****  

He attended many executive leadership training retreats, read every management book he could get his hands on, spoke to every single associate and manager in each and every one of his 50 stores. He asked quality questions and took note of every answer.

Before long, he had the company back from the edge of the cliff, and extinction. With a crystal clear view of what had gone wrong and what needed to be done to go forward successfully, he set sail on implementing his plan: to build and maintain a performance culture. This, and this alone, was the only clear path to success.

Not so fast, though. And not at all simple.  As mentioned above, building and maintaining a performance culture is not something that is easy to do or to maintain. Perhaps that is why so many companies – not just retail organizations – don’t do it.

So here’s what took place:

  • He communicated all of his findings, and lessons learned, to his existing executive team, and to every level of management, and to all associates at store level – even  part timers working a few hours a week.
  • He introduced new ways of doing  things and new ways of ‘being’ – basically, he introduced new standards of behavior and new standards of performance in every area.
  • Accountability for performance became the new, and very important, operational guidepost.
  • He discussed every single detail of the new way of doing things with everyone in the organization.
  • He communicated his vision over and over again.
  • With the help of his team members – and that meant everyone in the organization – he developed the vision/mission/purpose statements and code of conduct for the company.
  • He was relentless in following up to ensure that every level of the organization was on board and following the new way.

And he spent a lot of time and energy on all of the above. In fact, he lived it. The company went on to new heights; it became very successful.

Some may ask “Does an owner or CEO really have the time to do all of that, and should they do it?” Many, in fact, will dismiss this as a waste of the owner or CEO’s time.

So, how would you answer the question?

If you answered yes, then you have the right mindset and can very likely do it and, if you do, you will undoubtedly reap rewards.

If you answered no, then you don’t stand much of a chance of getting a performance culture working in your organization. It simply can’t be done half- heartedly. To try, without putting everything you have into it, is a waste of time and will probably create more confusion than anything else.

The correct answer is yes, definitely take the time and make it happen. Here are just a few of the benefits of doing so:

1)      Your executive team will have a renewed sense of direction and a thorough appreciation for the workings in every department in the organization

2)      Your head office support people will be on a mission to help your stores be as successful as they can possibly be

3)      Your store managers and staff will feel pride of ownership. Yes, even without profit sharing or anything similar, they will work as if they owned the company

4)      Because of the first three benefits, your customers will feel the positive vibe. They’ll know they are special and they will reward you with loyalty. They’ll keep coming back, they’ll refer you to their friends and family and they will become ambassadors of your company

5)      Everyone involved with your business, including your suppliers, will want to do their very best for your company

6)      Everyone wins

There is plenty of compelling evidence of success when a retail organization operates within a performance culture. In fact, anyone reading this can likely think of at least two or three retail operations that they are loyal to.  And, given enough thought, you’ll probably come up with the reasons why you’re loyal and you’ll likely see a lot of similarities to the company mentioned above.

You know, we talk about the funnel effect often in our workshops. There’s a good reason for that. Every single word spoken by your store managers, district and region managers and your executive team members will have an impact on someone, somewhere in the organization and/or the customers. Every decision, good or bad, will affect the results you get. Every policy, procedure or new rule, well thought out or not, will affect the results you get.  

That’s the whole idea of the funnel effect – everything that goes in, whether good or bad, positive or negative, right or wrong, impulsive or well thought out will, undoubtedly, affect the results you get.

At The Retail Operations Management Workshop we show you and/or your teams how to manage so that only the right stuff gets into your funnel.

Join us for The Retail Operations Management Workshop in San Diego, California on September 19-20-21, 2012, and get started on creating your performance culture.

Learn how to get consistently great results and how to take your retail business to the next level.

Attend this workshop and get started on your very own amazing retail success story.

For further information, go to: http://www.dmsretail.com/retailoperationsmanagement.htm

Or send an email to training@dmsretail.com 

In addition to The Retail Operations Management Workshop, we are offering four more of our popular workshops in San Diego, CA. Here’s the complete line up. Choose the ones that are right for the people in your organization.

Store Management for Maximum Success – September 17, 2012 http://www.dmsretail.com/retailoperationstraining.htm

Retail Math, Metrics and KPI’s – September 18, 2012
http://www.dmsretail.com/retailmathworkshop.htm

The Retail Operations Management Workshop – September 19-20-21, 2012
http://www.dmsretail.com/retailoperationsmanagement.htm

Retail Brand & Category Management – September 24-25-26, 2012
http://www.dmsretail.com/brandcatman.htm

District Management – September 27-28, 2012
http://www.dmsretail.com/districtworkshop.htm
Not so long ago, a survey (Bain & Co.) of several CEO’s concluded that 80% of them believed that their company delivered excellent customer service. When customers were asked to rate the level of service delivered in those same companies, only 8% gave them high marks. Hmmm. Something’s obviously not right.

But we are encouraged by the results of the survey.

Every CEO and every Retail Manager, at every level should be delighted with the results of this survey. It clearly points out that we may be out of touch. It shows us what’s wrong. When a CEO is out of touch with what is going on in his organization, isn’t it wonderful that s/he finds out about it?

It’s nothing less than a gift.  

S/he may have been so consumed with other areas of the company, that s/he didn’t even realize what was going wrong at the customer level where it counts the most.

Whenever we can clearly identify a weak point in our organization – like the example above where the weak point is service delivery – we get an opportunity to work on specifics that will correct the situation. We can deploy resources with full confidence that what we are doing – what we are spending money and energy on – are, in fact, things that matter; things that will truly make a difference.

Without that knowledge, we can go on for long periods working on the wrong things which get us nowhere.

There is another company I want to tell you about to illustrate what happens when CEO’s and Executive Teams either don’t get the feedback they need, or don’t properly heed the warnings of feedback from customers and store personnel.

The company was doing very well. They had about 1,000 stores in North America. They did an amazing job serving a niche that was barely, and badly, served by other retailers, and they’d been doing so for many years. They basically had that market wrapped up.

One day, a new President was given a mandate for change:  start enticing a new customer. She took the mandate, from the Board of Directors, very seriously but did not do her homework before starting out on, what turned out to be, the worst possible way to handle the change.

Armed with all of the resources and approval she needed, she began making huge investments in renovating stores and filling them with fixtures and merchandise that would, supposedly, attract the ‘new’ customer. Overnight, the chain changed its focus.

All of the signage and marketing campaigns were focused on a new customer.

Many of you are already seeing what’s coming, aren’t you? Yes, it was a colossal failure. 

Suddenly, they found themselves competing for the business of an already over served market. Far from the niche that they had so comfortably and effortlessly served for so many years, this new customer had dozens of choices and the company found it very difficult to keep up. All the while their store personnel and their customers were wondering what on earth was going on. Everyone was screaming ‘stop this nonsense’.

Loyal customers were alienated completely. They lost faith and stopped shopping at the stores. Many long term management and staff left the company as it had clearly gone off the rails. The big question, in everyone’s mind was “What are you doing, and why?” It just did not make sense from any perspective.

The chain experienced a very significant loss in business; so significant that, if things had stayed on course, it would have put them out of business altogether, within a few months. So what happened? 

The President was removed and the company, reeling from the disaster that had been created, changed direction. They still wanted to entice a new customer but, this time, they would do it very, very slowly and carefully. This time they would actually do some work to find out how to entice a new customer while maintaining their loyal customer base.

But, unfortunately, they had suffered losses to the point where over 90% of their stores were eventually closed. The company still exists today, but only as a small chain. It’s been bought and sold a few times to different investors. It continues to struggle along.

The moral of the story: Particularly if you are in a leadership role, never assume you know everything. Be smart. Listen to people and learn.  

At The Retail Operations Management Workshop we show you and/or your teams how to manage so that this kind of thing can’t happen.

By consistently applying the right principles, you’ll learn to manage any kind of change very effectively.

Join us for The Retail Operations Management Workshop in San Diego, California on September 19-20-21, 2012, and get started on creating your performance culture; a culture which will naturally prevent you from making big mistakes.

As we mentioned earlier, we can show you how to get consistently great results and how to take your retail business to the next level.

For further information, go to: http://www.dmsretail.com/retailoperationsmanagement.htm

Or send an email to training@dmsretail.com

We look forward to helping you create your very own amazing success story.

Here are the links we mentioned above. In addition to The Retail Operations Management Workshop, we are offering four more of our popular workshops in San Diego, CA. Here’s the complete line up. Choose the ones that are right for the people in your organization.

Store Management for Maximum Success – September 17, 2012 http://www.dmsretail.com/retailoperationstraining.htm 

Retail Math, Metrics and KPI’s – September 18, 2012 http://www.dmsretail.com/retailmathworkshop.htm 

The Retail Operations Management Workshop – September 19-20-21, 2012 http://www.dmsretail.com/retailoperationsmanagement.htm 

Retail Brand & Category Management – September 24-25-26, 2012 http://www.dmsretail.com/brandcatman.htm 

District Management – September 27-28, 2012  http://www.dmsretail.com/districtworkshop.htm 

For Program Outlines including topics covered, faculty, who should attend and fees, send an email to: training@dmsretail.com

We look forward to hearing from you, and to meeting you in San Diego.

All the Success!

DMSRetail

PS: Class size is strictly limited to 25 for quality purposes. Register now to avoid disappointment.

Holiday Tip #5 and Your Retail Management Training Library

 

Lots of retail people know all about GMROII, but not so many know about GMROF. That’s Gross Margin Return on Footage.

During busy times (like now, for instance) it’s super important that we display our merchandise in the best possible way to take advantage of all that extra traffic and encourage better sell thru, right?

Well, you can go a step further than making your merchandise look great…you can put it in the best place.

So, Holiday Tip #5 is…Use GMROF to find out which of your fixtures or walls, or wall sections is returning a better profit to you. That’s right! GMROF is not just used to find out Gross Margin Return on Floor Space…you can use it to find out the Gross Margin Return on any merchandised space.

Here’s the calculation:

GMROF = GM% x (Sales* / Sq.Ft.)
*Sales for corresponding area & time frame

Here’s an example:

Which fixture is more profitable?

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%.

Answer: Fixture 1 is more profitable. (GMROF for fixture 1 is 197; GMROF for fixture 2 is 189)

Most of you know that we include Retail Math in all of our workshops and YourTime Study Courses. And the reason is very simple – retail math knowledge is something no retail manager or business owner can do without. It’s a basic…a ‘must have’.

Fail to understand retail math, fail to understand your business.

This year, because so many of you asked us to, we put our workshop material, including lots of retail math, metrics and kpi information, into home study courses so that people who can’t afford the investment, or the block of time, to attend our workshops can still get all of the information they need to run successful retail businesses.

Last week, we decided to package all of them together into the most comprehensive retail management training library available and offer it to you for a fraction of the regular price. We also offered to give each customer full credit for any part they already own.

We considered it our holiday gift to our loyal customers and subscribers, and without much fanfare, we made that retail management training library available at that incredible price, minus what they had already paid, for one week.

But all good things must come to an end and that week ends tomorrow – December 7th. If you want to check it out you can still go here: http://www.dmsretail.com/ultimatebundle.htm

If you decide to buy one, we’ll refund your previous purchase of a Super Retail Success Bundle and/or any YourTime Study Courses you’ve purchased to date. It’s only fair!

All the Success!
DMSRetail Inc.

PS: The 3rd Edition of Retail Math – Made Simple was released yesterday. We’ve added Vendor Scorecards, a fully explained Profit & Loss Statement and a Retail Math Quiz! Customers who already own Retail Math – Made Simple, get a free upgrade just by sending an email to training@dmsretail.com , and many, many of you already have! (Your upgrades have been sent.) The price, for the new 3rd Edition, will remain the same for now: http://www.dmsretail.com/retailmathbook.htm

Holiday Tip #4 & Introducing Retail Math – Made Simple 3rd Edition

Our best selling Success Guide…Retail Math – Made Simple is now in its 3rd Edition!

We’ve added Vendor Scorecards, a fully explained Profit & Loss Statement and a Retail Math Quiz.

And the best part is…for now, the price stays the same at only $17.95 for the electronic version and $29.95 for the print version.

You can purchase it right here: http://www.dmsretail.com/retailmathbook.htm

We know that thousands of you already own Retail Math – Made Simple and we can just hear you saying “But, I already bought it!” Don’t worry, we won’t let you down. You get a free electronic upgrade.

If you are a Retail Math – Made Simple customer, just send an email to: training@dmsretail.com and ask us to send you the free upgrade.

Now, for that Holiday Tip #4 – What are your plans for keeping everyone sane this holiday season?

This is the time of year when many retail people might start to get a little testy. They are doing everything – and then some – and sometimes they just want to throw up their hands and leave!

Of course, they don’t really want to leave but they may get frustrated. Face it, life is pretty interesting…sometimes crazy… in retail stores in December. Start now and plan to make sure everyone has some fun.

Here are some things you can do to help:

  •       Arrange a pot luck lunch for the busiest days. Have everyone bring something to contribute, supply paper plates and cutlery and let everyone have a relaxing lunch in the backroom so they don’t have to fight the food court wars.
  •       Put a motivational note or card in their backroom mailbox just to remind them that someone appreciates their efforts.
  •       Bring treats for staff to munch on during their breaks.
  •       Run a contest where the winner gets to go home a little early without cleaning and closing up the store. If you run a contest like this every day, the other staff will happily pick up the slack because they know they could be the lucky winner the next day.
  •       And don’t forget the pat on the back for a job well done. Thank your people often and sincerely.

All the Success!

DMSRetail

PS: These two workshops will be held in Phoenix, Arizona in January 2012…after the madness, and just in time to get a jumpstart for the new year. You can use these links to get dates, fees, who should attend, what’s included, etc.

The Retail Operations Management G.O.L.D. Workshop:

http://www.dmsretail.com/retailtraining.htm

The Retail District Management G.O.L.D. Workshop
:
 http://www.dmsretail.com/districtworkshop.htm 

 


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