By 2025, global retail sales are projected to hit $31.3 trillion. To put it in simple terms, it’s a good industry to be in right now. But since it’s so lucrative, there is a lot of competition, and for a retail company to succeed, it needs proper management.
Retail managers have a lot on their plate, they need to deal with seemingly countless tasks during the workday, and this isn’t a job everyone can do. If you’re ready to take on all the responsibilities that come with retail store management, here are some tips that could help you out.
Use technology (new and old)
We live in the year 2022 and businesses of all niches have access to tools that most of us could just dream of just a couple of decades ago. Today’s businesses are run by technology, and retail is no different.
The global retail digital transformation is expected to reach $388.51 billion by 2026 as more and more retail stores are utilizing the power of technology. And there are plenty of tools you, as a retail manager, can use to improve your management.
There are tools that allow you to adjust schedules, keep track of hours, get access to valuable analytics, and more. New tools are popping up almost every day and it’s vital you keep track of these tools and look for the ones that are going to help you achieve your goals.
And while these new and modern tools are incredibly useful, you shouldn’t forget about some old tools that still do a great job and have practical use. One of those tools is Microsoft Excel, and there are a lot of tasks it can help you with.
Just some of the basic activities include tracking and managing inventory, scheduling employee hours, projections, and sales, just to name a few.
Excel can be a very helpful tool if you know how to use it properly. And if you want to make the most of it, you can hire an Excel programmer who can help you customize Excel and help you achieve your business goals.
Hire the right people and train them well
If you want to build strong business foundations, you need to be a great manager, but you also need to have a great team to manage. And if you’re in charge of the hiring process or at least involved in it, you need to pick and choose the people you hire wisely.
When you only hire high-quality employees, your job will be much easier because you won’t have to deal with the issues that come from working with unprofessional people. But finding this amazing staff is only half of the work.
The following step is to train them. Depending on the role the employee is taking on and the size of the store, you might have to delegate a senior employee to train them properly. Decide the proper procedures for training and ensure everyone understands the scope of work.
If your staff is well-trained, you will get much fewer questions during the workday and problems you need to solve. So even if it takes a while to provide that training, it will pay off in the long run.
Include employees in the decision-making process
Even though you’re the one who should be making most of the decisions, especially the important ones, you shouldn’t completely leave out your employees from the decision-making process. They might have a lot of information to share with you that could be of great help.
Don’t forget that your employees are the ones who are at the forefront every day, talking to customers, and making sales.
They know some things about the business you probably don’t and they can provide you with valuable insight. So take the time to meet with your staff and ask them for any information they think could be helpful.
Work on your communication skills
As a manager, you’re taking on a leadership role. And as a leader, your workers should be able to trust you and come to you with any question, issue, or complaint. The best way to prove yourself as a trustworthy leader is to have great communication skills.
One thing you should always remember is that communication goes both ways. When you’re the one talking, be as clear as possible. When delegating tasks and setting expectations, be as concise as possible.
But when your employees are talking, you need to be an active listener. If they’re sharing their struggles with you, be sympathetic and try to work on a solution together. And even if they’re talking about their personal lives outside of work, take the time to learn more about them. It will help you be a more compassionate manager.
Active listening is also crucial when a conflict happens, regardless of if you’re resolving an issue between two employees or an employee and a customer. Be sure to hear both stories and try to come up with a solution that is fair and partial.
Being a manager isn’t an easy job to take on as you have to deal with a lot of responsibilities. But if you approach your tasks with an open mind and apply the tips you read about here, your job will be easier than ever.