Retail Essentials Training
Our retail essentials training includes:
Grasp the core metrics: Transaction Count, Average Transaction Value (ATV), Average Item Count (AIC), Average Selling Price (ASP), and Frequency of Purchase (FOP) and recognise how these metrics form the foundation of retail success
Master the 5 essential formulas for retail analysis, and understand Contribution to Margin (CTM) for profitability insights
Use Days’ Supply, Stock Turn, and Out-of-Stock Impact formulas to manage stock effectively, gain insights on how to balance inventory for optimal cash flow and turnover
Analyze Gross Profit (GP), Trading Profit, Contribution to Profit (CTP), and EBIT, explore factors influencing base and trading GP for sustained growth and differentiate Lead vs Lag Metrics for proactive decision-making
Understand the Key Performance Indicators (KPIs) specific to retail environments
Understand the elements required to design effective in-store displays and manage visual merchandising, do a case study to apply space-to-sales ratio for layout optimisation considering category strategy to enhance customer experience with Destination, Preferred, and Routine categories
Conduct and interpret Customer Service Surveys for actionable insights, understand the benefits of using an NPD Checklist to streamline product launches and develop service strategies that build loyalty and drive repeat business
Use SWOT analysis to identify internal and external factors impacting your career and your department performance, then create an actionable plan using KPIs and other metrics for continuous improvement.
Training Formats: 1-day and 2-day face-to-face workshops
Level: New department managers
Ready to get started?
Enquire about training for your team today.