A Retail Chief is aware of and understands: 

A Retail Chief is ready to:

Retail Panorama – present and future

  • The important thing features of the retail sector together with stakeholder location and its relevance to UK and World economies.
  • Key financial and political drivers, adjustments that have an effect on the retail panorama and the affect of presidency laws on the price of retail operations.
  • The general retail panorama and ideas comparable to market share, and socio-economic traits, in a manner that allows the event of a strategic plan for enterprise development

  • Assemble the important thing plans for the enterprise, and display creatively, readability of pondering and resolution making in delivering them each in-store and on-line.
  • Analyse and consider key financial and political traits, and the way they affect upon the retail panorama, together with expertise and Synthetic Intelligence (AI)
  • Think about the affect of various enterprise fashions and propositions, together with the transfer to on-line retailing

Retail product life cycle

  • How product ranges are constructed and balanced between current merchandise, new merchandise and seasonality.
  • How shopping for selections are made by clients (Push v Pull).
  • The attraction of merchandise and types (e.g. personal label vs branded).
  • The position performed by pricing, merchandising, retailer format, and on-line components (eg web site design) in enhancing enterprise.

  • Assemble buyer profiles to make sure shopping for and merchandising affect is maximised, together with the affect of on-line retailing
  • Implement the hyperlink between product high quality and buyer satisfaction.
  • Affect the design of an acceptable retailer / web site format based mostly on present and buyer shopping for patterns.

Retail innovation and the digital problem

  • Strategic advertising and marketing plans, digital responses, and retailer propositions, as a part of the omni-channel mannequin.
  • On-line solely and / or retailer solely operations and the affect of latest buying strategies. ‘Bricks and Clicks’.
  • How new AI / digital and IT developments affect on the way forward for retailing, eg working a supply / click on and accumulate supply, and the affect of latest / various income streams.

  • Critically consider the simplest strategies of digital supply, and the way they may affect on the product vary.
  • Consider the affect digital channels play and establish the possible affect of adjustments in digital / AI behaviour by clients.
  • Critically consider the affect of latest expertise on the client journey and expertise

Retail Advertising and the client

  • The significance of ‘The Model’, and the way model repute is protected, enhanced or destroyed.
  • Via using analytics, the buying, shopping for and loyalty behaviours of current and potential buyer teams, together with the communities and buyer profiles which are served, and pricing methods
  • The best way to establish the client’s present and future wants and buying traits, together with moral and sustainable retailing.
  • The position of contact centres, promoting, promotions and using social media (eg social media platforms).

  • Create an atmosphere by which the model and model values underpin each colleague and buyer understanding (inside and exterior).
  • Persistently apply the retail model ethos and values.
  • Utilizing crucial analysis, assemble a buyer engagement / pricing technique
  • Through the use of knowledge, analyse and predict the client’s present and future wants and buying traits, together with how the client journey is impacted

Retail Provide Chains

  • The best way to consider suppliers inside a worldwide and UK context.
  • Relationship between price effectivity and buyer expertise, together with future supply strategies, eg drones / AI
  • The necessity to have in place a ‘simply in time’ method to provide.

  • Appraise the effectiveness of the general provide technique and method of the enterprise, which is moral, sustainable and worthwhile.
  • Anticipate future necessities for brand new merchandise.
  • Critically overview the position of logistics, warehousing and transport operation throughout the retail enterprise.

Retail Finance, Knowledge and Administration Info (MI)

  • The important thing monetary levers that have an effect on the general efficiency and revenue of the enterprise.
  • The best way to analyse, interpret and use knowledge.
  • The position that administration data and ‘Large Knowledge’ performs in supporting development, and its use in a personalised method to the retail buyer.

  • Overview efficiency of in opposition to key monetary and efficiency knowledge and ratios.
  • Use client development knowledge, and gross sales MI to foretell the response of shoppers, and reply accordingly.
  • Articulate the important thing enterprise selections (eg pricing technique), and the way they hyperlink with total efficiency.

The affect of change in Retail on our folks

  • The best way to ship productiveness for retail by means of completely different fashions.
  • The affect that 24/7 retailing has on the sector’s staff.
  • The significance of recruiting, inducting and creating an efficient group to drive the efficiency of the enterprise throughout omni-channel streams.
  • The affect of getting a expertise pipeline throughout the enterprise.
  • The idea of getting a ‘private model’ and management method throughout the context of the general organisational model and values.
  • The significance of GDPR laws and the way it will affect on the present and future use of buyer knowledge

  • Recognise the affect that the altering nature of retail has on folks methods, eg recruitment, L&D, worker engagement and expertise administration.
  • Allocate acceptable ranges of useful resource to completely different strategies of operation.
  • Construct groups, and empower and handle others to enhance enterprise efficiency.
  • Utilise emotional and social intelligence to construct and develop relationships each internally and externally.
  • Display efficient downside fixing and time administration expertise, and an knowledgeable written and verbal communication model


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