It’s about time DMSRetail shared its thoughts on performance-based compensation plans in the retail industry. First and foremost, let’s debunk the misconception that performance-based compensation plans negatively impact the shopping experience. This is far from the truth. Instead, a well-structured, straightforward performance-based compensation plan can actually improve the shopping experience. Those who buy into this misconception fail to see…
The Retail Mаnаgеr Is The Kеу Tо Attrасtіng More Customers Tо Your Store Have you еvеr wоndеrеd why уоur rеtаіl store іѕn’t аttrасtіng аnd kееріng аѕ many customers as уоu wоuld lіkе? The аnѕwеr hаѕ muсh to dо with уоur store mаnаgеr. In mу уеаrѕ іn the rеtаіl industry I hаvе соmе асrоѕѕ ѕоmе outstanding mеn аnd wоmеn іn…
The Highly Successful Retail Manager (HSRM) knows the ‘cause’** is maximizing revenue and profit and that he must hire people who will further that cause. The HSRM interviews with the purpose of hiring competent – potentially great – individuals who show indications of being able to move up in the organization. In retail, a competent associate must have the…
External Conditions Most retailers generally plan their targets, or budgets, based on the actual sales of the previous year. As the saying goes ‘past performance is a great indicator of future performance’. But every wise retailer will also carefully look at external conditions before committing a target or budget to paper; before using the numbers as a basis for…
CRYING OVER MISSED OPPORTUNITIES…LOST REVENUE? Some retail teams don’t seem to understand the importance of ‘making the sale’. Why? Really, retailers should be wondering ‘why aren’t the people on the sales floor, motivated to sell our products’? A sales associate in a large furniture retail store is much more inclined to ‘sell’ products to customers than a floor/service/sales associate…
Test your retail management analytical and problem solving skills. Here’s the case store situation: In a busy regional mall, which has been operating for approximately 30 years, and which has undergone several renovations, there is one very unusually positioned store. The store sells women’s lingerie. It is part of a well known, multi-national chain which does very well. The store volume is…
Case Studies and Real-World Examples: Integration of…
Comprehensive Report on Combining Inventory Management and…
