Common Retail Headaches and How to Alleviate Them
A brick and mortar business can be a great way to give back to the community and even establish a physical location for an e-commerce site. However, if you speak to anyone who's worked in retail, they'll tell you that there are a lot more challenges to running a store than they had expected. Therefore, we've laid out some of the most common retail headaches you'll encounter and how you can deal with them.
According to 7Shifts, one of the most challenging things for a retail manager is the process of scheduling employees. The most common issue that arises is the question of how many employees you will need to keep the store running smoothly. Scheduling too many runs the risk of overspending on your payroll, and if you schedule too few, customers can become frustrated and leave without buying anything. Unfortunately, you cannot predict the future. What you can do, though, is look to the past. Reviewing previous sales numbers from the same time periods can give you a good indication of what to expect. Use this projection to determine the number of people you should keep on hand.
Speaking about overspending, retail managers will often overstock on certain items because they think they're going to be big sellers, overwhelming themselves with product. Intuition alone is no way to stock your shelves. Your brick and mortar store should rely on a digital inventory system to provide you with up-to-date information. According to Celerant, technology has advanced to allow POS systems to help with inventory and ordering processes. The minute a person purchases a certain item, you will be informed about it through your system. This will allow you to make educated decisions on whether you should order more or leave the stock as it is for another week.
Unfortunately, theft is a part of the retail experience. Although you can never really stop it from happening, you can certainly reduce the frequency with which it occurs. Avoid having long stretches of aisle that go into either dimly lit or less frequented areas of the store. According to Reolink, you should also add plenty of security cameras, making customers aware that you are watching them. If you don't have the budget for a whole new security system, dummy cameras can also create a deterrent.
Running a retail business can be very challenging. Even the most dedicated and knowledgeable of business owners have their fair share of troubles, but these issues can be alleviated by utilizing some of these tips.
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