How to Improve Operational Excellence in Retail Industry?

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How to Improve Operational Excellence in Retail Industry?

This is where a lot of things come together.

Like every piece in a jigsaw puzzle, each aspect of daily tasks plays an important role to form the big picture.

In any industry, things can get a little blurry when there is no proper way to understand how each task was actually done. The good news is that the technology is getting better by each passing day to not only gain proper insights into the how, when and whereabouts of each task but also to manage these tasks just as easily.

But the same advantage can also mean that if you don’t adapt, you will be left behind in comparison to your competition.

So what can you do with today’s technology to achieve operational excellence in retail?

Read more to find out some retail operation tips that will help you improve  retail operations:

1.  Setup a Seamless Visual Merchandising Strategy:

visual merchandising in retail store improve tips challenges

Aesthetics is an important aspect when it comes to attracting more customers.

Today’s retail industry isn’t ‘one-size-fits-all’. With growing customer demand, there is a need for a smart system set up to allow you to tap into your customers and understand their behaviours so that you can prepare the store layout in a way that appeals to them. Make sure you capture as much data as possible to better understand your consumer behaviours.

Information like customer feedback, products that customers needed help from staff to find, areas that store that had more customers in a particular day, etc all can be useful to you. The staff can use mobile phones, camera feed and observation to collect all this data. Once this data is collected, it has to be shared across departments so that there can be necessary changes in place to create attractive displays of your products and set a better plan for visual merchandising.

This collaboration between sharing data and implementing ideas may take more tools and possibly even advanced technology like AI, but it may all be worth it!  In retail you aren’t just selling a product – you’re selling an experience and every new piece of relevant technology could be an improvement in retail operational excellence.

Small tweaks like the height at which items are placed can make a big difference. Some retail professionals use a retail planogram, a type of diagram, to detail the placement of items in a retail store.

2. Implement Automation:

automation in retail

Automation can be really helpful for different types of retail operations.

Retail task management can be inefficient when things are done manually and this can affect your performance. Tasks like assigning standard operating procedure checklists or conducting regular store audits are tedious and time consuming.

This is where  a task management tool like PAZO can come in really handy. It digitizes your daily tasks by automatically schedules daily, weekly and monthly checklists based on the tasks to be done and also ensures it is completed on time. And since all the responses and metrics are stored, audits can be done easily. PAZO not only makes it easier for you but also does it without any errors or paperworks.

A smooth execution of everyday tasks will improve retail operations and also allow you to devote more time to other important areas of business while ensuring efficiency.

3. Provide Omnichannel Shopping Experiences

Many retailers today have also gone online. This provides the customers best of both online shopping experience and a physical walk-in store.

According to a study by Harvard business review, customers of such ‘omnichannel’ shopping retail stores end up spending on an average 4% more in store and 10% more online compared to other shoppers. You can also combine it both together like for example a customer can buy a product that they like online and can pick it up when they walk into your store or even provide a custom app where customers are allowed to give feedback or request a staff member while they are shopping.

4. Getting the Asthetics right:

Aesthetics Improves Excellence

Have you ever walked into a store to buy some clothes that you later didn’t really like?

That’s the power of ambience and aesthetics for you!

In the retail industry, one of the most pivotal things is aesthetics because you want to sell your products. It can be achieved by grabbing their attention via colors, designs, clean environment and proper ambience. Many established brands and new names  in retail invest more in trying to capture the attention of potential clients and increase their sales, providing a visual delight to your customers and convincing them to at least check your store and products once. Retail stores spend a good amount of money on aesthetics; the better you project yourself the more desired attention you will get in return! They understand that just ensuring that you have the lights properly switched on could potentially result in a product being sold!

The other benefit is that when everything is properly maintained before a customer reaches to you, it’s directly improving your operational excellence.

Your prospects and customers will start noticing that your store is well-maintained and they’ll show more interest in your store and products. The concept of beauty and aesthetics is not only restricted to the display window, but also to how the whole store is being maintained, designed and organized so that it meets the customers’ expectations and motivates them to explore more to buy products from the store.

A task management tool could be of real use to you when it comes to maintaining your premises and ensuring the preventive performance maintenance checklists and other standard operating procedures standards are properly implemented.

5. Provide Better Training:

Better Training

Isn’t it nice to have an online repository where you can upload all training documents and videos?

That lessens the load on you to retrain staff members on the same tasks every single time!

The motive here is to get trained better and be ready for any retail-related circumstances. When employees receive effective retail training, they develop skills that boost the sales of the business and this leads to increased revenue. Training and development are the indispensable tools that are critically essential for retail business. The intention of training is always to ensure that employees achieve the business goals of an organization and to achieve operational excellence.

If you’re somehow giving proper training to your staff you’re directly improving your operational activities. No matter how skilled and experienced a salesperson is, if they have no adequate knowledge of the products and services that they are bringing into the market, they will not be successful at selling. Good training impacts positively on your operations and it is directly reflected on your ROI and sales.

5. Ensure Proper Communications:

retail operational communication

Internal communication is important no matter what  your industry does. For retail, it’s a critical component because every piece of information left unchecked can lead to customers being frustrated or things being unfixed and  with so much that’s happening in the store, the information to be conveyed can easily be forgotten or misunderstood. And sometimes even when there is clarity, you don’t exactly know whom to reach out to. It can all be really tiring especially when the premises get bigger. Consider the daily tasks the happen in a retail environment:

  • Products display & placements
  • Store atmosphere and Ambience
  • Aesthetics
  • Digital Signages
  • Store Space Management
  • Other exterior or interior designs, etc.
  • Communication between the stores
  • Store opening and closing checklist
  • Virtual tour of the stores
  • Easy Visual Merchandising Implementation, etc.

Wouldn’t it be nice if every conversation that happens around these tasks reached the right person who knows the right people to assign these tasks to or the next step of action to take? That is what PAZO enables you to do with just your mobile in hand.

Check: Merchandising Checklist For Retailers

So what is pazo?

Pazo is a store management system that helps you to set the tone for the best shopping experience for your customers by monitoring:Be it stock audit checklist, daily store checklist, housekeeping checklists, etc PAZO keeps a track of the responses along with images taken. With PAZO, you can check your store interiors and exteriors to ensure the customers can easily view the hotspots and merchandise. And doing a retail performance review is just as easy be it store audit or compliance audit.

All these tasks can be coordinated through a centralized communications solution with Pazo app which allows retailers to communicate with each store, and if necessary, each employee within the store. PAZO can assist you in achieving better communications via mobile application or web-app. You can easily send messages across all departments in the retail sector and get notified when proper actions are taken on the same. Also, PAZO can help you solve myriads of real-time issues with the help of its Communication feature.

retail operational excellence retail store management software pazo