Month: November 2017

How to Make Profit in Retail

The retail industry has been severely affected by the current economic crisis. Understandably there is panic as retailers look for creative ways of surviving. One very important weapon in their arsenal, which is commonly ignored but if effectively deployed can change their fortune is the issue of shrinkage reduction. While this might seem obvious to many within the industry, several retailers still underestimate the significance of shrinkage reduction or have not given it the attention it deserves.

A Global Retail Theft Barometer report revealed that in 2008 retailers lost 65 billion to shrinkage which represented 37% of their net profit margin. Furthermore, numerous research reports have reported that a staggering 79% of retail shrinkage problem is directly related to internal activities, only 21% is caused by shoplifting. With retail loss prevention experts concluding that about 68% of shrinkage is controllable, retailers could have added 44 billion to their net profit margin last year.

Why has the issue of shrinkage reduction not been given the level of prominence it deserves? The answer is two fold. Firstly, the issue of shrinkage reduction has traditionally focused on shoplifting, secondly, security providers have failed to demonstrate the concept of Return on Investment (ROI) to retailers.

While there is no argument that shoplifting accounts for a major percentage of retail shrinkage, employee theft commonly referred to as bonus or fringe benefit and lack of properly administered best practice have significant impact on profit margins. While shoplifters focus on the quantity of merchandise, dishonest employees steal merchandise of high value and poor operational practices in warehouses and receiving departments are responsible for merchandise going missing, damaged or perishable left to expire.

The conventional wisdom is that shoplifting is the major source of retail shrinkage problem, consequently, retailers spend four times more resources on shoplifting than on internal activities which are ironically responsible for four times more shrinkage. For retailers to derive more benefit from their loss prevention measures, the emphasis has to be shifted towards operational issues, such as properly vetting new recruits, redesigning warehouses to ensure high value merchandises are properly secured, developing consistent receiving procedures, using smart technology that links warehouse to Point of Sales and developing a loss prevention culture amongst staff because in the final analysis it is the staff members who can make any measure effective or redundant.

Shrinkage reduction properly thought through, managed and implemented with a suitable mechanism for measurement can put many retailer back into profit. In an industry where competition is fierce and margins are low, shrinkage reduction can be a competitive advantage.

The unprecedented growth of the retail industry has had wide spread effects on the education segment and that too in more ways than one. It had its share of disappointments when the global economic downturn was in full force, but with economies from all across the globe developing swiftly, it is high time you admit yourself into retail management courses, if you really want to ride these favorable waves of the market.

The jobs in Retail industry are burgeoning and this is the perfect time to pitch in. you can start by pursuing Retail management courses in some top notch educational establishment. Marketing courses and finance courses come under MBA and you have to choose an institution, which can fulfill your unique requirements.

Finance courses are crucial because economy plays an important role in most of the countries and society and it is infeasible to think of one without it. Finance courses will make certain that you innately comprehend the underling principles of the functionality of economies and not to mention finance careers are pretty lucrative and alluring. They can endow you with the perfect opportunity to show your expertise in this cut throat competitive market.

You hear about the merge between various top corporations and business expansion plans of some MNCs; these are done by professionals who have had sound finance education. To make certain you land a high paying job, you must make certain that you pursue Finance courses at some reputed MBA College and that it is accredited world wide. There are many MBA institutes, which proffer custom tailored courses which can either be full time, distance and part time.

We all reckon the significance of marketing in this business driven world where business and commercialism has taken over almost everything. Be it a start up business, a low or mid sized one or a large blue chip corporation, everyone needs some degree of marketing to boost their sales and escalate ROI (Return on Investment). Pursuing a Marketing course will lay the foundation to a lucrative career.

Some of the most sought after and renowned Finance courses are: – Accounting Technician Course (ATC), Advanced certification in Capital Market, Advanced Diploma in Banking, Finance and Insurance, Advanced Diploma in Financial Accounting & Taxation (ADFAT), Advanced Management Programme in Banking & Finance, Advanced Option Trader, Advanced Technical Analyst, B Com (Honours in Accounting and Finance), and a lot more.

On a similar note, if we discern some of the most esteemed and distinguished Marketing courses, we will stumble upon courses such as: – Doctor of Business Administration (DBA), Doctor of Philosophy (Ph.D.) in Management, Fellow Programme in Management (FPM), Ph.D ( Business Management), Management Development Programme, Postgraduate Diploma in Management E-Biz and a lot more. These courses can be pursued after you have completed your MBA degree. Now let us sneak a quick look through some imperative Retail Management courses: – Post Graduate Certificate in Management (Retail Management), Post-Graduate Diploma in Management (Retail Management), MBA (Retail Management), Post Graduate Program in Retail Management (PGPRM), etc.

Infinite Courses, a foremost name in the arena of web sites and portals offering umbrella solution to all education related queries and dilemmas. Explore Finance Courses, Marketing Courses, Retail Management Courses and much more.

If you’re a keen traveller (or would like to be) you’ll probably be all too aware of how expensive flights can be if you just pick up a telephone to book flights or visit an agency to book your travel excursion.

If you love to travel but hate paying retail prices for flights you’ll be happy to know you could be buying airline tickets for 40 to 70% less.

Most people only know the “retail” way to buy airline tickets, they have no idea how and where airlines sell very cheap tickets wholesale to the travel agencies that in turn on sell them to you the retail customer.

One would assume that these very cheap flight wholesale tickets are only made available to travel agencies and websites – but this is not the case.

Airlines dont really care how or where they sell their tickets, as long as they sell the amount of seats they want to fill for their flights.

So where do they offer the majority of their seats and wholesale flights?

Consolidator fare outlets

Online website outlets like Expedia and Priceline

Independent travel agencies (who also regularly use the above resources to buy wholesale flights)

Last minute airline online deals (e.g. grabaseat)

So if travel agencies use many of the same resources that are available to us, why is it that we can’t or that prices for flights can vary so much for passengers travelling on the same flight in virtually the same seats?

Well there are many factors that make the difference between very cheap flights and full paying fare flights. Savvy travelers who understand these differences will tell you that what price you pay for airfares can depend on:

The time of day you fly (the very cheapest flights are usually found at specific times of the day)

They know where airlines offer bulk deals to agencies with massive discounts offered to consolidators. The know how to find the cheapest flights on the websites that travel agents (and you too) go to buy heavily discounted wholesale flights.

They know what questions to ask at the ticket counter to get free upgrades, baggage or insurance upgrades and cheaper deals on flights

Essentially by understanding fundamentally how airline price tickets, and when and why some tickets are WAY cheaper than others (even though they are with the same airline on the same day but just booked in a slightly different manner) you can save hundreds of dollars on very cheap flights.

There are also many ways to save or upgrade on accommodation, airport parking (which is a frequently overlooked but often expensive oversight) if you know what and who to ask when you are booking flights and even when checking in or boarding your flight.

If you are only considering the price you pay for a flight but overlook the savings you can make on airport parking, hotel or shuttle costs it can pay for a good proportion of your flight.

There are many small but important considerations you can make when traveling that can not only extend your budget considerably, but also save you time, energy and comfort – especially if you know how to get free upgrades and airline sponsored vouchers for your next flight just by knowing what to ask and when to ask it.

The most relevant point to remember is that the time of day or week you fly can make the difference between paying premium and very cheap flight prices.

There are several websites you can check out today where you can find low airline prices, but don’t just book any time and date. Try selecting several different times of day and if you’re staying for a day or two at your destination try including a saturday stay in your trip and see how much the fares can vary.

There are so many ways you can save time and money when buying tickets, accommodation, and airport travel. If you follow the guidelines travel industry insiders like the tips covered comprehensively in airline industry insider Tony Morrison’s Airfare Secrets book, can save not only money but loads of time and energy!

Graduates of retail management courses use their communication skills to run a retail operation efficiently. For those with experience in distance learning courses in this field, there is the option to manage a personal business or work in a large, established firm. There are also many different industries that benefit from retail, from healthcare to clothing.

A degree in retail management courses can give the training needed to build a successful career. This is why this is quite a popular choice among distance learning courses. The number of industries that employ graduates of retail management courses is as varied as the products available in the market. The retail industry expects much growth, especially in the field of online retail so these courses offers promising employment leads for those who want to enter the industry.

Graduates of distance learning courses in retail management courses are already ingrained in the workforce, according to statistics released by the Bureau of Labor Statistics. Many jobs will be available in retail and this trend is not expected to change in the coming years. The largest growth is expected to occur in the specialization of online retail.

Many online operations are small and self-run and some have non-traditional organizational structures so a background in retail management courses is an advantage in getting a handle on the industry. A professional who has the proper education, such as those who went through distance learning courses through retail management courses, may tap into these new possibilities.

Distance learning courses such as retail management courses follow the same coursework as traditional training. They teach relevant skills such as courses in accounting, communication and even conflict resolution. A large chunk of the training may involve business administration and economics. In addition, distance learning courses in international retail is covered in some programs to prepare students in trends affecting key industries and untapped opportunities.

Bachelor’s degrees and master’s degrees are both available through distance learning courses. The salaries of those who have received distance learning courses in retail depend on the type and size of the business as well as the experience and education. Self-employed retailers may enjoy significant profits depending on how their business performs. Retailers in the auto industry enjoy high financial rewards as well. The experience gained in a degree program, whether online or at a traditional setting, is helpful in setting up a retail organization or working in one.

Visit ICI.NET.AU for affordable Retail Management Certificate, Retail Management Programs, Retail Management Diploma, Retail Management Degree Courses and build the career of your dreams.

The potential of powerful merchandising options like store display stands or shop display cant be ignored. Why? The retail display equipment and packaging design gives you the opportunity to increase your sales provided used to their fullest potential. To be more precise, in todays competitive world, you cant you really afford to ignore the potential of display shelving or visual merchandising.

Why is Retails Displays Essential?

If you are running a retail store, then you have limited opportunities to grab customers attention and make them notice about your products. Poor shop display fittings, cheap equipment and untidy ones can give the wrong first impression to your potential customers.

Even if you manage to pull the customers because of your reputation and good advertising, it can all be a waste, if your store doesnt meet the demands and expectations of customers. Crowded or busy retail display can often put off your prospective customers. But you need not worry! You can increase your sales and can make your market presence with the help of attractive packaging design and powerful retail merchandising solutions.

Retail Display Options

By stepping into the market, you can find variety of merchandising options to choose from. If you are budget conscious, then you can start with basic essential products, but dont compromise on quality part. The common products used for visual merchandising are display shelves. Visual merchandising means to position your products effectively by making use of effective merchandising products as per customers demand & requirement. Products like trophy cabinets, counters, jewellery cabinets, and wall mounted cabinets cater to all budgets and merchandising requirements.

Display shelving is an important element in merchandising to keep your store organised and presentable. They are suitable for all retail environments. If your store doesnt have enough shelves or is often overcrowded with customers, then it can become difficult for customers to find what they need. Before you place order for shelves, carefully plan out how much shelves are required for your products.

To enhance your store display, you can make use of attractive picture and posters. Retail graphics merchandizing is one of the most effective ways to for creating brand awareness and to promote your product.

To summarize, you should not ignore the importance of retail packaging design, shop display fittings and display shelving as they enhance your products and increase sales. To gain more knowledge and to have detailed study about them, you can browse Internet.