Introduction to Retail Management
Thursday, March 7, 2019
9 am – 3:30 pm
The Enterprise Center at Salem State University
This one day class provides learners with the opportunity to navigate the sea change in retailing. Students will be taught the fundamentals of retailing and how to create a retail business plan to keep them on track for the next year.
Each student will prepare their own store plan following 4 Basic Steps:
- Understanding the Retail Landscape and how it is changing
- Developing the shopping experience that fits your customers buying habits and motivations
- How to manage and motivate employees for store profit and personal growth
- The key elements of a retail business plan
- The Retailing Landscape
- What has changed
- What we can expect to change
- Future prospects for Retailing
- What factors are in and out of our control and what can we do about them
- PEST Factors multiplied by Time divided by Trend
- 3Ps of retail – Product, Presentation and People
- Key terms in retailing
- The Shopping Experience
- What makes a great shopping experience?
- How retailers can impact shoppers’ satisfaction
- What motivates the modern shopper?
- The blurring of online and brick and mortar stores
- Why Customer Service makes a difference
- Store Layout that sells products
- Understanding the impact of merchandising
- How good signage and placement affects buying decisions
- Retailing That Works
- How to identify good managers and employees
- The path to sales and profitability
- Preparing a budget to track sales and operations
- Treating people the right way and staying within the law – hiring and firing
- Putting It All Together in a Plan
- Developing a plan for the year
NOTE: A parking permit will be emailed to all registered/paid participants shortly before the class date.
In-Person Class Refund Policy: 100% refund before the first class meeting; 50% before the second class meeting. No refunds after the second class meeting.
Online Class Refund Policy: In the case of a Salem State Online class, 100% refund before the scheduled start date. No refunds once the Salem State Online class begins. For all other online classes (Gatlin, Ed2go, or MindEdge) no refunds of any kind will be issued). Please call Andrea DiVirgilio at 978-542-6302 for more information