No matter how good a product may be, it needs to be in the right place at the right time to be purchased. Retail execution is what makes the difference between an abandoned shopping cart and a conversion. It is not just limited to online shopping. Traditional retail executives have more fun watching shoppers impulsively buy things that were strategically placed for them to pick up without thinking.
One can hire a cashier without experience or a sales executive without experience. If they prove to be intelligent and dedicated during the interviews, they will learn on the job. A retail executive is different. This job requires prior experience. This is the endgame.
There can be no experimenting here without losing sales opportunities. It is vital to have the budget to pay an experienced retail executive. This employee will bring in more money in terms of sales that wouldn’t be happening without them than their salary itself. Investing in a reputed retail executive is always a good idea.
This job entails implementing sales ideas at the end level. This is not a part of planning and theorizing. This is where it is happening. This job entails shelf merchandising, restocking, product placement, ad placement, store audits, and promotions, among other things.
Anybody with experience catering to customers for years as a floor manager can apply for this job. Even a new salesperson with a knack for it can go for it. After all, all it takes is to know what the customer wants.
Anybody with a business management course or prior start-up experience can be a good retail executive for an eCommerce website. They know what annoys a visitor and what helps them want to make a purchase.
The customer is not physically visible in an online store, but their digital footprint gives all the information necessary. Cookies and social media data help determine what a target is looking for. Social media marketing does half the job. A professional retail executive perfects it.
Data mining is the most important factor not only in e-commerce but also in traditional stores. Knowing the needs and tendencies of the potential customer helps manipulate them towards a sale. This is not a field for trial and error. This is a game of calculative moves.
Loads of data about the store’s performance and sales patterns aligned with consumer behavior help find patterns. These patterns are then orchestrated to repeat a successful conversion. Retail executives are the key to the success of digital marketing tactics.
Retail executives implement strategies to make consistent sales. Some common instruments are:
- Promotions: Seasonal or yearly promotions have proven to double sales.
- Supplier relationship: Maintaining a good professional relationship with suppliers helps neutralize restocking issues.
- Cross merchandising: Putting unrelated categories of products next to each other has increased the sales of both categories.
These are only a few of the devices retail executives use to increase sales in online and offline stores.
Retail execution is what keeps businesses afloat despite all the competition. Finding a strong retail executive will benefit a business within a quarter.