Add to all the other consumer trends accelerated by COVID-19 the shift to video streaming, which hurt the chain this year. Transforms retail-store operations, supply chains, and procurement processes through an approach grounded in advanced analytics Related insights Issue ).”, Kate Szirmay: “We have been most successful at tearing down the wall by treating our website like another physical store. The store also influences the perception that customers form in their minds about the store, the products, services and staff. Based on your procedures, you might take some cash to another spot, such as the back office, for later deposit. Customers may not always be right, but they’re always the customer, representing a potential sale and potential review. Businesses have even emerged to help merchants find temporary space. Retail operations management requires an understanding of merchandising, logistics and cost control in order to move items from stores or production facilities into the hands of consumers. The best-run stores comprehensively train their employees on how to treat customers and provide superior service to keep them coming back. Obviously there's Amazon - they're taking over retail. Hopefully the melding of the two retail spaces will continue. Still, Family Video went into 2020 with more than 500 stores. Tisher said in an interview that even amid the pandemic rentals have held steady. As such, it became a novelty and tourist destination, which, By signing up to receive our newsletter, you agree to our, 17 retailers that could go bankrupt as the COVID-19 era wears on, Bass Pro parent to acquire Sportsman's Warehouse, Bath & Body Works turns to Ascena, Ross for exec hires, Most shoppers plan on making a return after the holidays. Learn how the flexible, extensible Smartsheet platform can help your organization achieve more. Get retail news like this in your inbox daily. Store operations The retail store is the place where the customers take a decision on the purchase of the products offered by the retailer. While the Amazons and Netflixes of the world are producing their own content, much of it is television serials that lend themselves to binge-watching rather than the small-budget indie feature film that video stores helped support by providing a ready market, according to Herbert. When the last customers leave, signal that you’re closed with appropriate signage. Here are his tips: 2. Customers often don’t put things back correctly. A little more than three decades later, when Clarence's son Charlie was running the company, it became a distributor for the first supplier of videocassettes for Hollywood studios. "They're privately owned and so they are not answerable to shareholders," said. Technology makes this process easier. If your store sells gift items or products for people’s homes, here are a couple of similar retailers that you can draw inspiration from: 4. The products should be properly arranged on the shelves according to their sizes and patterns. Jump-start new projects and processes with our pre-built sets of templates, add-ons, and services. The pandemic also disrupted movie production and title releases, from Wonder Woman to the new Bill and Ted movie. As the video rental model became a dominant channel for at-home movie watching, trips to the video store became a way of life for Americans. "They're privately owned and so they are not answerable to shareholders," said Daniel Herbert, an associate professor at the University of Michigan's film, television and media department. Front-end cash procedures ensure proper handling at the POS. Now it's "all hands on deck" for the tenacious retailer. (Retail Dive was among the publications Dye reached out to.) At what point? So, retail operations can encompass everything about how a store operates each day. Manual labour scheduling Store managers plan their staffing “on the back of an envelope”. Is it willing to say who else might have the item? "Honestly, being closed for 60 days for COVID did not help, but the slowdown in Hollywood I would say was the biggest thing," Dye said. Consider using 3PL (third-party logistics) partners for distribution if you are expanding online. The same business that caused so many difficulties for brick-and-mortar stores now has one - plus pop-ups. The rise of e-commerce, such as the behemoth Amazon, has disrupted many retail store operations, and it’s vital that today’s retail operations professionals adapt to handle that challenge. Restock shelves at this time, or as needed, but don’t interrupt customers unnecessarily. For example: When you commission us to make a custom piece of jewelry, you can now follow the same process either online or in-person. We asked seven retail operations professionals to give us their top two or three tips for store operations. Especially as time has gone by, Family Video is just chugging along. Think Amazon’s new automated retail grocery store, Amazon Go, for other categories.”, Hyun Lee: “I believe there will be two major groups. "We need to be honest with our customers that we will not be here in the year 2021, 2022 if we don't intervene now.". For the purposes of this article, we’ll take the widest view of retail operations as a field. The best employees demonstrate a sense of drive and responsibility. “There is a lot of synergy between your physical store and your online operation,’’ says Jason Parks, Co-Founder of DermWarehouse, a beauty and skin care e-commerce site. Here are his thoughts for expanding online: 1. Get out of the back room and onto the sales floor: Too many retail owners and managers spend too much time worrying over the books in the stockroom, placing orders and such, but that isn’t where the success of their store resides. Employee reviews should be done consistently, with regular feedback and follow-up. Throughout the day, straighten up the merchandise displays. The ones that truly cater to customers' needs. "Here's the deal: We cannot be around all that long if we don't get help from our loyal customers and people on the outside.". "Getting thrust into it could be better for the company in the long run," he said. Evaluate open hours: Independent retailers depend upon foot traffic for their sales, so they need to study when people are moving past their stores and be open at those times. You don't miss out if you don't come to the store. Laura Cummins is Chief Creative Officer of Nine Dotz Consulting in New Jersey. Job descriptions should be clear and regularly updated to reflect responsibilities. Accept and route customer complaints to the proper person for response and resolution. Capture email addresses from all of your customers at your storefront location. Retail examples of homeware stores and gift shops. Salesforce 2020 Holiday Retail Strategy & Planning Guide, Fossil Launches Virtual Try-On Without An App, Bolt Raises $75M, Reinforcing its Position as the Best and Fastest Way to Checkout Online, Retail Therapy: Party City says 'FU' to 2020, 46% of shoppers more likely to shop small this year: survey, With an end to pandemic struggles in sight, beauty looks toward a prettier future, An existential moment for the last video store chain. Yet Family Video, based largely in the Midwest, opened new stores during some of the years following the big chain wind downs. Typically, when people use the term retail store operations, they’re referring to most of the functions and jobs in stores. Here are their tips: Bob Clary: “By blurring the lines between the two. Retail operations generally refer to the daily business activities of a retail business, which is a business that sells products directly to consumers. Fit, description, colors, material all have to be realistic. Periodically do a bigger cleaning, such as a spring cleaning. The store must offer a positive ambience to the customers for them to enjoy their shopping and leave with a smile. Sometimes a store may choose to only give a credit on a credit card, or store credit. A little more than three decades later, when Clarence's son Charlie was running the company, it became a distributor for the first supplier of videocassettes for Hollywood studios. Hyun Lee is Growth Manager at Qminder, a queue management system that improves customer experiences at physical locations. This allows customers to engage more with the products and the brand. A tire store sells both a product (tires) and service (installation). Just leaving a notebook by the checkout area promoting upcoming discounts can also help to capture emails. Employees assigned to open should arrive early to prepare the store for its opening to the public. We consult via Skype, email you and split screen with you to review your CAD rendering, mail you your 3D printed prototype, and mail or hand-deliver your final product. Our phrase is when you shop with us online, we will do everything except hand you a cup of coffee.”, Pamela Danziger: “Regarding the walls between online and in-store, I think the main message is that when customers want to buy something, i.e. Since that’s a lot of ground to cover, we’re going to focus on process improvements and optimizations that can make and deliver the biggest cost and time savings as well as revenue increases. The retail apocalypse testifies to that.”, Laura Cummins: “Always offer outstanding customer service and create memorable experiences for customers.”, Andy Hill: “Retail operations professionals need to ensure that both physical and online are optimizing their individual strengths, whilst also integrating both into the customer journey to provide a great multichannel experience. This is the fourth area of retail operations: inventory management. The rise of e-commerce, such as the behemoth Amazon, has disrupted many retail store operations, and it’s vital that today’s retail operations professionals adapt to handle that challenge. At smaller stores, nearly every position may fall under operations. This is all important to decide as part of cash handling and customer service. If you're not having fun, you're not doing it right. Also helping to ensure Family Video's sustainability was its family ownership. It depends on the work they do on the sales floor, not the stockroom. 1. Clean your windows and glass doors of smudges. Retail hasn’t been easy in recent years. Family Video traces its company history back to 1946, when Clarence Hoogland founded the distribution business Midstates Appliance & Supply Company, according to the company. If you have a parking lot, toss out any debris from the previous night. They’re managing the store, while also reporting to the owner or higher-level managers for strategic plans. As such, it became a novelty and tourist destination, which saved it from extinction. Charlie Hoogland used revenue from video rental to buy up commercial real estate to put the company's stores on — a strategy that the company has long credited with its enduring success. Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. If a product does sell well, the store increase its inventory. "You do have a real decline, I think, in the market for indie movies, that is, feature length," Herbert said. Retailers can’t force people to come to the store when they want them too, but must be open when customers want to be there. The customer isn't always right, but they always come first. Many retail professionals say the key to success - in stores or online - lies in superior customer service, both today and in the future. For a store to succeed, it needs to have the products to satisfy its customers. They can help you scale quickly, and you can always bring things back in-house at a later date. If retail businesses don't adapt, they will surely lose out in the battle. Count the cash and reconcile it and credit payments with sales. The procedure should define in detail how important matters like this are carried out. Cash refunds to customers should be consistent with store policy. Its average customer is well over 40, Dye said. stores more certainty in operational planning and higher delivery standards. "We're in the toughest spot we've probably ever been in, we need to think outside the box," Dye said. As for Family Video, it serves many markets that lack the broadband access and the overriding inclination to switch to purely digital forms of watching. Amazon and other online retailers continue to grow, while many brick-and-mortar retailers have declined steeply in recent years. That feature of the business, perhaps more than any other, helped give rise to the video rental model. Track customers' purchases in order to create customized promotions. "Our biggest selling point to our communities is that we're the first ones to have these new movies. By the 2000s, the industry was already in decline, owing in part to the decision by studios to release DVDs at prices consumers could afford right off the bat. 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