Retail Presentation

Retail Essentials

1Monday, October 26, 2009

Space Allocation

Show all merchandise to all customers.

High-markup and impulse items should be very visible.

Discourage shoplifting.

Experiment to stay exciting.

Locate related lines next to each other.


Space Allocation

Situate related departments next to each other.

Give the most important lines the best locations in your store.


Space Allocation

Positioning

Do not sell every item in a category

Choose products that enhance your reputation.

The same line of your business


Preventing Retail Theft

Maintain rotating employee assignments.

Team different employees together or with you.

Initiate procedures for balancing the cash register or drawer after each employee's shift.

Take physical inventory at least annually, more often if practical.


Preventing Retail Theft

Check daily receipts against a list of items sold.

If you suspect an employee of stealing, randomly audit sales by contacting customers to verify sale details


Shoplifting

Put items that are easy to shoplift close to the checkout counter.

Use packaging that is hard to conceal.

Install mirrors and/or closed-circuit TV cameras to monitor all portions of your store.

Post signs stating your policy of prosecuting shoplifters.


Location

Adequate Parking

Public Transportation

Traffic

Compliments

Size


Location

Convenience goods require easy access, allowing the customer to quickly make a purchase. A mall would not be a good location for convenience goods. This product type is lower priced and purchased by a wide range of customers.

Specialty goods are more unique than most products and customers generally won't mind traveling out of the way to purchase this type of product. This type of store may also do well near other shopping stores.


Location

A shopping store usually sells items at a higher price which are bought infrequently by the customer. Furniture, cars and upscale clothing are examples of goods found at a shopping store.


Location

Mall Space

Downtown Area

Free Standing Locations

Home-based


Location

Check Your Demographics

Look Your Competitors in the Eye

Do You Need Professional Help?


Location

Cost - can you afford it? For example, is there free parking, or is it expensive?

Safety - This is an increasingly important issue for both customers and employees. Is there security on the premises


Location

Convenience - Is it easy to find? Is parking close by? Consider your clients. If you're dealing with pregnant mothers and the elderly, they may have a different concept of "convenient".


Location

Traffic - Retailers and restaurants love it, office workers don't.Facility requirements - Do you have any special needs,such as high

power consumption or specialized wiring? Do you need meeting space, but only occasionally? You might consider a shared office suite (often called executive suites) in that case.

Zoning - Many cities have very strict zoning requirements. Make sure your business is even allowed there before you sign the lease!


Location

Prestige -Would a downtown address add credibility? Will wealthy clients favor a business in their own neighborhood? Some places even provide virtual offices with prestigious addresses, such as Beverly Hills, Silicon Valley, or Manhattan.


Mohanad Mohammed

Business Consultant
