10 Things To Know About A Retail Management Career
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If you are already on the path to becoming a retail manager or are simply considering it, here are some important and interesting things to consider before embarking upon a retail management career.
1. You Must Have The Right Personality 
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Compare your traits to those commonly found in successful retail managers.
- Results-oriented
- Ability to motivate, train, and develop others
- Strong customer service skills
- Natural leader
- Patient
- Cheerful
- Good communicator
- Professional
- Good listener
- Strong negotiator
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Retail managers oversee everything that makes a store work, from behind the scenes functions (such as buying, inventory, and merchandising) to the sales floor (such as sales and customer service). Some common tasks you can expect to perform during your retail management career include:
- Hiring, managing, and motivating a team to increase sales
- Overseeing vendors and the buying process
- Managing inventory
- Creating and maintaining store displays
- Developing and executing sales and promotions
- Analyzing market trends and researching competitors
- Monitoring sales figures and forecasting future sales volumes, and meeting sales quotas
- Dealing with questions, complaints, and comments from customers
- Monitoring budgets, controlling expenses, and maximizing profits
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One of the most important factors in getting a job in retail is experience. So, prepare to start in an entry-level job and take the time to learn every aspect of retail while you work your way up to your desired position.
4. You Don't Need To Have A College Degree
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Many retail managers worked their way up to the position from the sales floor, but it's easier to land the job if you do have a degree. Most have a bachelor's in business administration and some even have an MBA.
For those without a degree, internal training and development programs will help to propel you forward.
5. There Are Many Specialties In Retail Management
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As you move up in your career, you may have the opportunity to specialize in an area that interests you, including:
- Buying
- Pricing
- Merchandising
- Marketing
- Personnel
- Customer service
- Training
- Operations
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As you grow in your career, you are typically promoted by moving to larger stores in larger markets, or to area or regional management. Due to the nature of retail, these positions are rarely in the same city.
7. It's A Numbers Game
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Success in retail is measured purely by sales and profit. Your job will be to improve commercial performance by meeting customer demand, increasing product turnover, and maximizing profitability. Although there are other considerations, compensation is highly dependent on these types of measures.
8. Customer Service Is Paramount
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As the saying goes, "the customer is always right." Knowing that sentiment, retail managers are often presented with the most challenging situations and must exercise the utmost care when dealing with customers.
In today's "social media" driven society, mistreating a customer is the fastest way to destroy what was once a good reputation.
9. It's Not A 9-to-5 Job
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Stores are meant to serve the public, a public that often works from nine to five and thus have to shop in the evenings or weekends. Therefore, retail managers are often required to work non-traditional hours to maximize their effectiveness.
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Especially when in the same local or regional market, retail is a small world. Everyone knows each other and the bridge you burned yesterday at one company may be the one you have to cross before you can get your next job.
Retail management isn't for everyone. But for the right person, it can be a great career path with lots of opportunities to achieve success.
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This article was originally published at an earlier date.
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8 Ways You're Being SHUT OUT Of The Hiring Process1-hour workshop to help job seekers figure out what's getting them tossed from the hiring processCover Letter 3 Tips For Overcoming Your Biggest Job Search FEARS Jenna ArcandSeptember 28, 2022
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Are you terrified of screwing up a job interview? Does the thought of writing a cover letter horrify you? Are you scared to network with others? What do you even say, anyway? If you're struggling to overcome your job search fears, this live event is for you.We get it. Looking for work can be scary, especially if you’ve been at it for a long time and haven’t gotten any results.
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Read moreShow lessjob search fears
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Community So, You Are Going To Add A CDP To Your MarTech Stack? Anthony BrandaFebruary 07, 2023
iStock Photo Licensed to Anthony Branda
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An Executive’s Perspective
The industry defines a CDP as a platform that centralizes customer data from multiple sources and makes it available to systems for insight and engagement tasks. This definition is dated as modern CDPs include not only customer data but also the ability to ingest prospecting data and partnership data in a secured environment.
The 4 Key Considerations When Evaluating Customer Data Platforms (CDPs)
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Considerations
Key capabilities you may want any CDP platform to perform:
- Data management: ability to assemble customer profiles - the infamous 360 view
- Cross-channel marketing and digital advertising - ecosystem and APIs
- Data delivery for analytics and customer engagement
- Security features that allow for sharing data with partners
The CDP market is highly fragmented, with each vendor type focusing on a specific industry and/or specializing in a particular functionality. It is important to note that many providers may say they can provide every feature functionality. Still, the art and the science of evaluating CDP vendors are determining which vendor is good at the dimensions deemed to be important for the business problems and opportunities you are trying to solve.
I suggest conducting pre-RFP benchmarking and competitive intelligence using resources such as user experience interviews, industry publications, and commercial research firms. The output will give you an overview of which vendors, software providers, and consultants are good at solving the various pain points that are important to your specific situation. Remember to ask for client references upfront from the CDP vendor. If you need assistance with benchmarking activities, there are service providers that can help with all aspects of these tasks, from organizational needs assessment to the purchase and integration of tools. Please feel free to reach out to me for more ideas.]
Some of the largest vendors in the CDP space include SAS, Tealium, Twilio Segment, and Zeta Global. However, several cloud-based data lakehouses (e.g., Snowflake or Google, etc.) offer accelerators and partner APIs to link campaign data to CDPs, thus making the vendor/provider landscape more competitive than ever before.
Evaluation Criteria
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CDP capability sets are focused in four areas, and so the relative importance of meeting needs within these areas must feed into an organization’s decisioning. The four capabilities areas to assess are:
1. What level of data management does the CDP provide?
CDP data management includes:
- Creates a 360° view
- Data governance
- Data transformation and modeling
- Attribute and feature calculation
- Merge/append and matching - classic marketing database features
- Modern platform for streaming analytics and real-time data
- Providing access and data sharing by internal and external systems
2. What level of cross-channel marketing and campaign automation does the CDP provide?
CDP orchestration for cross-channel customer engagement:
- Ability to create profiles and segmentation for target marketing
- Provides audiences with engagement management platforms for personalization
- Ability to automate marketing campaigns with channel integrations and delivery capabilities:
- Some CDPs include native campaign management software, incorporating a GUI or a campaign design interface for database teams and marketers to program, with conversation decision rules kicking off based on customer behavior
- CDP may include some level of native channel integration and channel send capability (for example, email marketing, mobile messaging, etc.)
- This flavor of CDP has a native decision engine for the automation of campaign rules
NOTE: While some CDPs may have personalization and product recommendation engines, these functionalities may not result in a fully automated campaign management CDP which typically includes programming of campaigns via workflow and channel send capabilities (see above).
3. What level of analytics and measurement does the CDP provide?
Some CDPs (but not all) can:
- Collect data on predefined metrics to measure campaigns
- Provide customer analyses
- Integrate and provide data to specialty analytics tools
- Integrate third-party model code and apply model scores
NOTE: CDPs that are measurement and insights-oriented may offer reporting, modeling, and other marketing and customer journey analytics features.
4. What security features are available?
- Allow for partner data sharing without exposing PII
- Allow for security and access controls based on internal standards
- Are set up to comply with the GDPR/CPPA
- Some CDPs that are part of data lakehouses have highly secured data zones that allow for the restriction of data at the field and user levels
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My preferred process for evaluating CDPs is to identify all solution options based on an understanding of your:
- Internal gaps within the current marketing infrastructure
- The use cases your organization is trying to drive
- Knowledge and skill sets within your organization
And remember, CDPs fit within a broader business ecosystem, but many also come standalone. For example, you can purchase Adobe Campaign or Salesforce Marketing solutions, or you can buy their entire marketing automation ecosystem.
In closing, CDPs should be reviewed in the context of the existing MarTech stack and the feature functionality gap. A critical factor in CDP evaluation is the work and resources needed to integrate your current infrastructure at upstream and downstream connect points.
As always, I’d like to hear from you. How have you and others in your organization evaluated CDPs? Are there other criteria I have not mentioned? What challenges have you faced in the evaluation stage...and how were they overcome? Contact me for more information at [email protected].
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Sweaty palms. Shaky voice. Blank mind. These symptoms of nervousness can seriously sabotage a job interview, no matter how prepared and qualified you are.
To quell these natural responses and help you muster more confidence in anxious situations, consider these quick pre-interview confidence boosters so you can perform better right before your next job interview—no energy drinks or cheesy motivational speeches required!
Amy Cuddy, social psychologist at Harvard Business School, talked about what people do while waiting for a job interview to start in a popular TEDGlobal presentation.
“You're sitting down. You're looking at your iPhone or Android. You're looking at your notes."
This common waiting room behavior is not really ideal for maximizing your confidence right before an interview. Instead, the following activities will make you way more confident before meeting a potential boss:
1. Strike A Power Pose For Two Minutes
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According to Cuddy, rather than hunching up and making yourself small in the waiting room chair as you scramble to soak up last-minute notes or practice one final interview question, you should actually find a private place to do what Cuddy calls a power pose.
There are a few variations, but the Wonder Woman pose is easy to remember. So, 10 minutes before your interview, go somewhere private, like the bathroom, and strike a strong pose where you can take up as much space as possible.
2. Repeat A Positive Affirmation
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"Repeating a positive affirmation can reduce production of cortisol and stress hormones by almost 50%, slow the mind, lower your blood pressure and heart rate, and make you feel confident and powerful," says Kathleen Hall, founder and CEO of The Mindful Living Network and the Stress Institute.
Hall offers the following examples:
- I am confident in all things.
- I have unlimited potential.
Joyce Marter, psychotherapist and CEO of Urban Balance, would agree and suggests deep breathing while you recite a positive mantra in your head "using language you will want to use in the interview, such as 'I absolutely will succeed in this job if given the opportunity.'"
You might feel a little silly at first, but these words will help you emit a more positive appearance—and that sure beats a nervous one!
3. Read Over Nice Things People Have Said About You
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Thinking back to a time when you were successful and confident is a great way to recreate that confidence right before an interview. A quick and easy way to do this is to print out and compile anything nice someone has said about you. Read old letters of recommendation, LinkedIn endorsements, letters, or notes from colleagues or teachers that have boosted your confidence in the past.
If you're not really feeling this method, "quickly review your biggest accomplishments in your head before going into the interview," says Katherine Walker, founder and executive director of Lifetime Behavioral Health. "This trip down memory lane will instantly create a sense of confidence and serve to get your brain thinking about items the interviewer will no doubt ask you about." It's the best way to remind yourself that all of your previous experiences have helped shape you and prepare you to succeed in this job interview!
We hope these three tips will help you feel more confident during your next interview so you can land that dream job!
Need more help with your job search?
We'd love it if you signed up for Work It Daily's Event Subscription! Get your career questions answered in our next live event!
This article was originally published at an earlier date.
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So, You Are Going To Add A CDP To Your MarTech Stack?
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Originally posted on: https://www.workitdaily.com/retail-management-career