Retailers have always struggled with high staff turnover– this is not a new phenomenon. The trouble with this is that employee turnover is disruptive, expensive and can affect team morale. However, what can retailers do to solve the problem? This article examines 3 key strategies for reducing staff turnover. Review your culture One of the…
Once you have become familiar with the processes, responsibilities and routines within retail and have decided you want a career in the industry, the next step is to consider developing your skills to become a supervisor or manager. Yet how do you achieve this? There is no single winning formula that will guarantee anyone an…
When you run a business, one important financial metric you have to be familiar with is the retail margin. The retail margin is also known as the gross margin and measures the relationship between the costs you pay and the price you charge your customers. Managing your margins plays a major impact on the profit…
