In tough retail times, its cold comfort to know that your competition is doing worse than you – but you’ll take any win you can get right now. This approach might rock you to sleep each night but the reality is that, despite the doom and gloom, there are still many retailers on the global stage that are smashing their numbers and have all the momentum right now.
Let’s get it out early. The funding is a massive bonus when training and development budgets are tight, or in some cases, non-existent. So, how does a retailer still get the funding but turn the whole traineeship model on its head to get long-term results for the individual AND also the organisation. Here are a few things to consider.
If you have high staff turnover in stores and your store management team are weak, you’re feeding the online retail phenomenon. Better still. Shut up, shop now and convert your stores to kiosks or vending machines. You’ll make more profit! Ouch! For your physical stores to stay relevant for customers today, you need to embrace the word ‘experiential’.
If I’ve heard it once I’ve heard it a thousand times – “Sales covers all sins.” As much as I don’t like to admit it, I agree with this sentiment. So why, when retail is more competitive than ever before and we still have a few sins in the closet, don’t most retailers have a comprehensive sales strategy, store by store as well as one for the whole organisation?