Course details
Most retail businesses now have vast quantities of retail data now available to them, not to mention all of the market, supplier and customer information they can now access. Retailers are no longer data poor, they are data rich, but that richness is not being translated into retail growth in either sales or profitability terms. Retail Growth Through Effective Analysis is designed to help retailers become effective and efficient in the meaningful use of the data that is available to them. Rather than just examining what has happened, being able to draw meaningful conclusions that can be applied to the future will enable your business to grow.
OBJECTIVES
After completion, participants will be able to:
- Translate historical trend data into meaningful future information
- Make decision on accurate interpretation of data
- Select the appropriate data to use for various decisions
- Determine the most appropriate replenishment method for products
- Conduct efficient and meaningful Post Season Analysis
COURSE CONTENT
In - Season Analysis
- In season trading - managing the range once it is in store to monitor sales performance against plan and inventory levels against plan so that timely remedial action can be taken when and where it is necessary.
- Different types of analysis - Trend & Tracking Analysis
- Sources of information - Qualitative and Quantitative, internal and external data. Using all of those to build and accurate understanding of your business.
What's Next?
- Different replenishment methods, including their advantages and disadvantages.
- Promotion and prometional analysis
- Defining markdowns
- Review - analysing what has happened and why it has happened with a clear view to the future of the business
- Category & product roles - why were speciic products/ranges purchased and did they achieve that purpose?
- Conducting valuable post season analysis
- Strategies for managing the vast quantity of data available to the retailer
- Drawing conculsions from the data that has been analysed
WHO SHOULD ATTEND
This course is for anyone in a retail or retail related role that has to analyse performance data and make decisions as a result of that analysis.
Updated on 08 November, 2015Course Location
About The Retail Academy Of Singapore
The science and arts of retailing as a business have advanced over the years. Changing customer preferences, business innovations, globalisation, information technology and now, raising productivity, have pushed the boundaries of retail management. To develop leadership capabilities, retail executives have to learn more and faster than before. A formal grounding in retail management is essential for any retail executive; and, continuous professional development is a must for the contemporary retail manager as well as the business owner. A key focus of the Retail Academy is to develop leaders at middle and senior levels of the retail organisation. In a highly competitive global marketplace, retailers need leaders with higher education, deeper insights of the business and wider accessibility to networks.
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