Store Manager in Palakkad

The Store Manager is responsible for overseeing the revenue, growth, customer satisfaction, and market share management of the store. This role involves planning and analyzing market trends, coordinating with the Head Office (HO) to implement customer-oriented and practical marketing programs, and providing periodic reports to aid corporate decision-making.

Responsibilities:

Retail Sales Management:

• Attend to showroom customers and present products effectively (100% engagement).
• Achieve a minimum conversion ratio of 90%.
• Conduct periodical Below-the-Line (BTL) or local promotional activities once every quarter.
• Maintain showroom merchandising and cleanliness audit score at 95%.

Target Achievement:

• Consistently achieve at least 90% of sales targets.
• Ensure the sales team’s performance averages 90%, with each member achieving a minimum of 75% base performance.
• Maintain average basket value as per store benchmarks.
• Adhere to the store budget, managing all expenses and revenues.
• Meet Gross Profit (GP) benchmarks.

Team Management:

• Conduct regular quarterly performance evaluations for team members.
• Implement daily product and sales training.
• Maintain a minimum employee grooming score of 90%.
• Keep the attrition rate below 5%.

Inventory Management:

• Monitor and control inventory levels, ensuring stock is above the minimum and below the maximum levels.
• Reorder products to maintain adequate stock, achieving a 100% reorder level (ROL).
• Maintain a minimum inventory turnover ratio of 4 times.
• Minimize stock shrinkage to 3%.
• Adhere to store ABC benchmarks: 50:30:20.

Customer Satisfaction:

• Achieve a 100% customer satisfaction score.
• Ensure positive customer feedback is at least 90%.
• Resolve customer issues within 48 hours of ticket raising.

Operational Duties:

• Ensure customers receive accurate and technical product information from the team.
• Drive sales plans decided by the management and ensure team execution, aiming for a 90% conversion rate through excellent customer service.
• Avoid any miscommunication about products to customers and follow up on customer feedback.
• Manage cash handling and transactions, ensuring accuracy in processing various forms of payment and issuing receipts.
• Adhere to store policies for handling money and maintaining financial transaction records.
• Conduct random checks on items, quantity, and prices to prevent errors in tagging and billing.
• Reconcile and finalize daily financial transactions, including cash balances, credit bills, advance receipts, and transactions through payment gateways.
• Implement loss prevention measures and report suspicious activities to management.
• Encourage customers to join loyalty programs and participate in feedback surveys.
• Lead the sales team, including Assistant Store Managers, Supervisors, and Salespersons, ensuring clarity in sales plans and execution.
• Provide regular training on product knowledge, customer interaction, sales skills, issue solving, relationship management, store etiquettes, and Standard Operating Procedures (SOPs).
• Ensure the team reports accurately and timely on their work status and adheres to company policies and procedures.
• Monitor and control inventory levels daily, ensuring timely reordering and refilling based on market trends.
• Manage product returns and exchanges, reporting damaged or defective items promptly to avoid loss.
• Implement effective visual merchandising strategies to enhance showroom appearance, focusing on eye-catching displays and signage.
• Conduct team meetings (daily, weekly, monthly) with reports and ensure timely implementation of decisions and actions.
• Gather information on competitor products, pricing, services, and promotions to recommend strategic adjustments.
• Conduct daily reviews of low performers and implement corrective actions to improve productivity.
• Plan, organize, and coordinate with HO for BTL activities based on local market trends and competition.
• Assist with regular and periodic stock-taking processes.
• Report any violations of company policies or standards to the Management/HR Department.
• Ensure timely recovery of EMD amounts related to bidding.
• Ensure the receipt and timely updating of Delivery Orders for all finance scheme sales.
• Handle additional tasks as assigned by the reporting Manager as needed.

Requirements:

• Bachelor’s degree in Business Administration, Marketing, or a related field.
• Proven experience in retail sales management.
• Strong leadership and team management skills.
• Excellent communication and interpersonal skills.
• Proficiency in using inventory management and sales tracking software.
• Strong analytical and problem-solving abilities.
• Ability to work independently and handle multiple tasks.
• Knowledge of local market trends and customer preferences.