Retail Operations

by Tang, Angie

• ISBN13: 9789810679385
• ISBN10: 9810679386
• Edition: 2nd
• Format: Paperback
• Copyright: 2012-12-10
• Publisher: Ft Pr

Summary

This concise and reader-friendly book is for aspiring businessmen and women who desire to be successful. It talks about operational details and the day-to-day running of a shop or chain of stores. The 4-colour book includes pictures of store layouts, merchandise displays and promotional activities so that important points are depicted in a clearer manner.

Author Biography

Angie Tang is a key speaker at numerous retail workshops organized by various shopping center management and retail companies. She also serves as an adjunct lecturer with the Retail Academy of Singapore, associate trainer with the Service Quality Centre, and as lead consultant-cum-trainer at the Retail Promotion Centre. Angie is also renowned trainer and speaker in the overseas retail industry including Malaysia and China. Ms. Tang has extensive consultancy experience especially in advising small-and-medium-sized retailers on strategic developments and operations. She is also a consultant-assessor of various nation-wide service quality programs such as CaseTrust. Angie is the co-author of the retail books, entitled Retail Operations Handbook: A Practical Guide For Small Retail Businesses published in 1999 and Retail Operations: How to Run Your Own Store published in 2004. She has received several awards in recognition for her excellent teaching, academic leadership and publication. Her awards include the Singapore Polytechnic’s “Excellence in Teaching Award” and the Singapore Polytechnic’s “Innovation and Creativity Award”.

Before joining the Polytechnic, Angie has many years of marketing, merchandising and operational experience in the retail industry. She graduated from the National University of Singapore with a Bachelor of Business Administration in 1987 and obtained her Masters of Business Administration in Retailing and Wholesaling (with Distinction) from the University of Stirling in 2000.

Sarah Lim is credited for managing the Retail Laboratory and for introducing effective hands-on training pedagogy at the Retail Laboratory. She was awarded the Singapore Polytechnic’s “Innovation and Creativity Award” for her contributions to the organization in 2002. Sarah is actively involved with the retail industry by providing training and consultancy services. She is a key trainer at various workshops and seminars for the management and staff of major retail corporations both locally and overseas. Sarah also serves as an associate trainer with the Service Quality Centre. In addition, she acts as an assessor for the CaseTrust Award. Sarah is the co-author of two retail books, entitled Retail Operations Handbook: A Practical Guide For Small Retail Businesses published in 1999 and Retail Operations: How to Run Your Own Store published in 2004.

Prior to joining the Singapore Polytechnic, Sarah had extensive experience working for renown international fashion and cosmetics brands; as well as overseeing the sales, marketing, training and operations of the retail outlets in Singapore. Sarah graduated from the National University of Singapore with a Bachelor of Arts in 1985, obtained a Diploma in Education from the Institute of Education in 1986 and went on to receive a Diploma in Management from Henley Management College, United Kingdom, in 2003.

Table of Contents

ABOUT THE AUTHORS

FOREWORD

PREFACE

ACKNOWLEDGEMENTS

CHAPTER 1 WELCOME TO THE WORLD OF RETAILING

1.1 What is Retailing?

1.2 Why is Retailing Important?

1.3 Major Formats of Retailing

1.4 Functions of Retailers

1.5 Concerns of Retailers

1.6 The Future of Retailing

Viewpoint Simple Ways to Enhance Your Retail Sales

CHAPTER 2 THE RETAIL STORE CUSTOMER

2.1 What is a Customer?

2.2 Types of Customers

2.3 Basic Needs of Customers

2.4 Why do Customers Patronise a Retail Store?

2.5 What is Customer Service?

2.6 How to Deliver Customer Service?

2.7 Benefits of Customer Service

Viewpoint Winning Life-Long Customers

CHAPTER 3 SHOP LOCATION AND SITE

3.1 Importance of Location and Site

3.2 Definitions: Location and Site

3.3 Evaluation and Selection Guidelines

Viewpoint Types of Shopping Locations

CHAPTER 4 DAILY OPERATING POLICIES & PROCEDURES

4.1 Shop Opening Tasks

4.2 Closing Procedure

Viewpoint Maintaining Standards – How can you help?

CHAPTER 5 STOCK MANAGEMENT

5.1 Ordering

5.2 Receiving

5.3 Checking

5.4 Marking / Price Tagging

5.5 Storage

5.6 Inter-Shop Transfers

5.7 Expiry and Damaged Control

5.8 Returns and Claims

5.9 Stock Take

5.10 Staff Purchases

Viewpoint Markdowns – Do you need to plan for price adjustments?

CHAPTER 6 CASH HANDLING AND CONTROL

6.1 Cash Register

6.2 Payment Processing

6.3 Cash Management

Viewpoint Help your cashiers to serve the customer better

CHAPTER 7 UPKEEPING SHOP IMAGE

7.1 Shop Layout

7.2 Housekeeping and Maintenance

7.3 Front End Tasks

7.4 Back End Tasks

7.5 Schedules for Housekeeping and Maintenance

Viewpoint Staff Appearance and Conduct

CHAPTER 8 SHOP SAFETY AND SECURITY

8.1 Shop Safety

8.2 Preventive Measures

8.3 Remedial Works

8.4 Shop Security

Viewpoint The Retailer and Occupier’s Liability

CHAPTER 9 SALES POLICIES

9.1 Tills and Receipts

9.2 Merchandise Reservation

9.3 Refund and Exchange

9.4 Delivery

Viewpoint A Sample Store Policy

CHAPTER 10 CUSTOMER SERVICE DECISIONS

10.1 A Service Strategy

10.2 Customer Service Programme

10.3 Handling Customers Effectively

10.4 Handling Enquiries

10.5 Product Knowledge

10.6 Handling Complaints

10.7 Service Recovery

Viewpoint Simple actions but significant payoffs

CHAPTER 11 THE ART OF RETAIL SELLING

11.1 The Retail Selling Process

11.2 Pre-Customer Contact

11.3 Step One – Acknowledge

11.4 Step Two – Approach

11.5 Step Three – Identify Needs

11.6 Step Four – Presenting the Products and Sell Benefits

11.7 Step Five – Handle Objections and Queries

11.8 Step Six – Close the Sales

11.9 Step Seven – Add-On Selling

11.10 Step Eight – Farewell and Follow-Up

11.11 Getting Ready to Sell by Building Confidence

Viewpoint Employees – Your Greatest Weapon

CHAPTER 12 MERCHANDISE DECISIONS

12.1 The Six Rights of Merchandising

12.2 Merchandise Buying

12.3 Merchandise Control

Viewpoint How to maintain a healthy balance of inventory and sales?

CHAPTER 13 MARKETING PRACTICES

13.1 Advertising

13.2 Sales Promotion

13.3 Merchandise Presentation

13.4 Visual Presentation

13.5 Customer Loyalty Scheme

Viewpoint The personality of your retail shop

CHAPTER 14 RETAILING AND YOU

14.1 Legal Issues

14.2 Ethical Issues

14.3 The Consumer Protection (Fair Trading) Act

Viewpoint Avoiding the legal pitfalls of irresponsible advertising

CHAPTER 15 INFORMATION TECHNOLOGY (IT) AND RETAILING

15.1 Point-Of-Sale (POS) Systems

15.2 Internet Technology

15.3 Interactive Kiosks

15.4 Additional Technology Applications

15.5 Misconception About IT Systems

15.6 Challenges Ahead

Viewpoint “Retail Pro” – An excellent software system

CHAPTER 16 ORGANISATION AND PEOPLE MANAGEMENT

16.1 Organisation Structure

16.2 Culture Development

16.3 People Management

16.4 Retailer’s Options

Viewpoint Samples: Documents for Recruitment

CHAPTER 17 FINANCIAL CONTROL

17.1 Financing the Initial Operation

17.2 Budgetary Control

17.3 Evaluation of Merchandise Effort

17.4 Evaluation of the Retail Performance

Viewpoint Towards a better managed and more profitable business