Retail Management

Are you someone who wants to join the retail industry?

Are you someone who wants to be a retail entrepreneur?

Or anyone who wants to know more about this interesting industry?

If the answer to all these questions is a yes, then you’ve landed on the right place

Retail is an ever-growing industry. Retail management saves time and ensures the customers easily locate their desired merchandise and return home satisfied. An effective management avoids unnecessary chaos at the store and rather increase the sales of the store. This course is suitable for all – Operation, Sales, VM, HR, Logistics if you want to enter in Retail domain.

Section 1: Retail Industry Overview

1. Meaning

• Explain the meaning and importance of Retail
• Differentiate between Customer and Consumer

2. Story of Retail

• Describe the evolution of Retail
• Differentiate between Organised and Unorganised Retail
• Explain the key characteristics of Organised Retail
• Explain the key characteristics of Unorganised Retail

3. Common Formats

• Describe the common formats in Retail industry

4. Key Players

• List the key players

5. 6 Ps of Retail

• Explain the meaning and importance of 6Ps of Retail

6. Functions/Departments in Retail

• Explain the key functions/departments in retail.

7. Career opportunities in Retail industry

• List the key profiles in the retail industry
• Explain the key skills required to perform these roles

Section 2: Pricing

1. Pricing Methods

• Explain the meaning and importance of various pricing methods

2. Price elasticity

• Describe the meaning of price elasticity of demand
• Explain the significance of Price elasticity
• Calculate the price elasticity

3. Survey – Willingness to pay

• Take feedback on price worth
• Explain the preferred Price points

Section 3: Supply Chain Management

1. Is Supply Chain that simple?

• Explain that supply chain in the practical situation can be complicated
• Understand the practical scenario of a complicated supply chain

Section 4: Buying and Merchandising

1. Principles of Merchandising

• Explain the various principles to consider in merchandising

Section 5: Barcodes

1. Meaning

• Explain the meaning and importance of Barcodes

2. Common types

• Explain the common types of Barcodes

3. What is GTIN

• Illustrate the reason behind forming GTIN
• Explain the meaning and importance of GTIN
• Explain common standards in GTIN

4. How to generate Barcodes

• Generate barcodes for the products

Section 6: Visual Merchandising

1. Meaning and Importance

• Explain the meaning of Visual Merchandising
• Describe the importance and some fun facts in Visual Merchandising
• Explain the importance of 5 senses in Visual merchandising

2. Key elements

• Explain the key elements

3. Store Exteriors and Store Interiors

• Describe the meaning of Store Exteriors and Store Interiors
• Explain the meaning and importance of store facade and window display
• Apply tactics to improve the sales

4. Store Layouts

• Describe the meaning of Store Layouts
• Explain various types of Store Layouts

5. Fixtures

• Describe the meaning of Fixtures
• Explain various types of Fixtures and their usage

6. Product Presentation/Merchandise Arrangement

• Describe the meaning of Product presentation/merchandise arrangements
• Apply the tips to improve the presentation
• Apply the tips to reduce the wastage

7. Signages

• Describe the meaning of Signages
• Explain the types of signages
• Apply the tactics to improve the sales

8. Planogram

• Describe the meaning of Planogram
• Explain the importance of Planogram

9. Popular Tips and Tricks

• Explain the colour wheel and impact of colours
• Describe various colour schemes
• Explain the meaning and importance of color blocking
• Explain the meaning and importance of endcaps
• Explain the meaning and importance of Pyramid principle
• Apply the popular tips and tricks in Visual merchandising

10. Casestudy

• Casestudy

Section 9: Point of Sale (POS)

1. Meaning

• Describe the meaning of Point of Sale (POS)
• Explain the importance of Point of Sale (POS)

2. Casestudy

• Casestudy

Section 14: Process Improvement

1. Lean vs. Six-Sigma vs. Lean Six Sigma

• Explain Lean, Six-Sigma, Lean Six-Sigma quality control methods
• Describe the key principles of Lean
• Explain different types of wastes
• Describe the steps in Six-Sigma

2. 5S methodology

• Describe 5S methodology

3. Case-study

• Casestudy

4. Unmanaged Inventory

• Casestudy

Section 18: Luxury Brand Management

1. Tips applied by Luxury Brands

• Analyse the tips applied by Luxury Brands
• Apply the tips in your brand

Section 19: Legal

1. Common Legal Terminologies

• Explain the commonly used legal terminologies

Section 21:  Interesting facts

• Interesting facts