For Owners

Best Practices in Retail Merchandising

for-owners

Objectives in Retail Merchandising

  1. Enable a retailer to evaluate the next steps in his business.
  2. Compare his own retail merchandising business with the best in the industry
  3. Motivate a retailer wanting to take the Great Leap Forward, may be with our help.

Target Audience

  • Owner Retailers
  • Decision Makers
  • Senior Management of Chain Stores
  • Progressive Retailers

Be ready for some of your existing ideas, solutions and practices to be challenged. To accept or reject is entirely your choice.

Retailer Profiles

Retailers can be Single Stores, Family run multiple chain stores, professionally run Stores, Organisations who promote metals like Gold, Platinum, Diamonds, Coloured stones etc.

Content

The program content is based on our 12 Best Practices in Retail Merchandising.

It consists of

  1. Profit for the business: - Is a result of focused strategy & execution of the right Best practices.
  2. Purpose of the business: - Beyond making profit, what makes you want to do it day in and day out, 24 hours a day.
  3. Planning your business: - Developing a business plan for the next month, next year, 2 to 5 years ahead with specific road maps to achieve them. Identifying Strengths, Weakness and Focus Areas.
  4. Property: - Location identification, Need for expansion? Size of the store? Etc.
  5. People (Customers): - Building Personas, Understanding the Target Customer, etc. represented by a Jaya Bachchan to an Alia Bhat -
  6. Products: - Inventory Management Techniques, Stock to sale ratios, Improving Stock turn, Pricing, slow moving stocks, Open to Buy, Necessity to hedge or not? Etc.
  7. People (Ours): - Recruitment, Training, Motivation, Salary Structure, Incentives structure, Etc.
  8. Processes: - Set up Standard Operating Procedures, Identifying Improvement Areas etc.
  9. Performance Metrics: - Identifying and tracking business metrics beyond Kgs of gold, Top, bottom line profit, sales conversion, etc.
  10. Partners: - How, to build a Win-Win Relationship between Vendors and Retailers.
  11. Promotion: - (ATL & BTL), OOH and Digital Media and even Face to Face promotions.
  12. Problem Solving: - Online / offline - one on one / in groups

This has based on our working with more than 100 clients and our teams experiences and expertise over the years. All this will help in improving your profitability to a level never seen before. Ask us for proof and references. See our client testimonials on this site and elsewhere.

Methodology

Presentations, Discussions, Videos, Problem solving and Q & A Sessions.

Private Workshops

We invite individual store owners / business families to get the families and their teams together for a workshop like this. We also invite Retailer Associations to organise this seminar for their members.

Take Away

Minimum 25 specific actions points are guaranteed in our one day workshop.

Public Workshops

We also organise these open workshops in Mumbai during the IIJS shows in July and IIJS Signature Show in February, where retailers from Delhi, Ahmedabad, Hyderabad, Mumbai, Chandigarh, Jaipur, Mumbai and many Tier 2 and Tier 3 towns have attended and benefited from them.

Take Away

Minimum 25 specific actions points are guaranteed in our one day workshop.

Co-branded Workshops

We also partner with other organisations like Software Providers, Insurance companies, Marketing Companies, Government Organisations or even individuals in conducting these workshops. Can we  talk?

Take Away

Minimum 25 specific actions points are guaranteed in our one day workshop.

Take this simple test now!

  1. What is the sales target for the year and are you on track to achieve or over achieve the target?
  2. What is the stock rotation in this year and how much has it improved over the last year? By at least 0.25? to 0.5?
  3. What is the percentage of your inventory that is more than one year old in the plain gold jewellery for example? Less than 15 %?
  4. Do you have a profitability target for the year and are you on track to achieve it?

Track Record

Our Founder Mr. Shivaram was Tanishq's Head of Merchandising, Training and Regional Sales etc. for over 10 years.

Since he set up Retail Gurukul in 2012, over a hundred companies in India and Abroad have since benefited from our teams’ expertise and experience.

Understanding the uniqueness of each client, working on their strengths and overcoming their weaknesses has been the bench-mark of each engagement.

Retail Gurukul has proven track-record and practical approach to problem solving.

The Team has worked with Small & Medium Size Single Stores, Large Single Stores, Family Run Chains, Professional companies and International Organisations as well.

To challenge you to achieve extra-ordinary results, Retail Gurukul’s Expert Business Consultants conduct these workshops and are led by our Founder Shivaram.

Results?

Retail Gurukul clients have seen higher profits from improved cash flows, motivated staff, committed vendors and significant improvements in stock rotations from a 0.25 to 0.60 in the plain jewellery category in less than a year and 0.25 to 0.5 improvements in Diamond studded jewellery.

Interested?

We regularly conduct workshops across the country or can even do a customized workshop for your team or Association.

Get in touch with us now on +91 90360 36524 or mail us from here

A few examples of our many programs

Program for the Womens Jewellery Association, Mumbai, and what designers can do to improve their businesses.