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5 Important Retail Manager Interview Questions - Retail Management

A Store Manager is one who takes care of the entire store in terms of sales, people management, administration, takes care of inventory, and looks after the entire store's operational aspects. So in this article let us discuss and understand what are the 5 important interview questions you will face when you are being interviewed for the Store Manager position in any of the retail organizations. Tell Me About Yourself: To answer this question one has to keep some points in mind. Keep the introduction short and brief about yourself in 2 to 3 minutes, don't take more time in summarising the entire CV or Resume. Always start from your present role and go in descending order to cover all the points of your career and personal information. This can be done vice versa also, which is, start from your educational background and summarise your work experience till the present job. Do not memorize this and be very crisp and clear without making it a boring introduction about yourself. Remember that this is your first impression and you have to make maximum impact. How do you motivate your Staff Members? The important steps of successful staff motivation are spending time with the staff and knowing what their needs and what motivates them to perform well in the job. Each and every staff are different and a common motivation strategy will not work with all the staff. So we have to personally interact and understand the employees and their interests in the workplace. Staff motivation can be done by providing regular positive feedback, recognizing and rewarding their efforts at work. Actively involve the staff in decision making and show confidence in them with respect to their work. One of the major motivating factors is monetary rewards in the form of gift cards or cash. What steps you take to ensure task completion? This question is put forward by the interviewer to check and evaluate whether you have proper procedures and techniques to check and monitor the team and the tasks they are performing. Always ensure that you follow up and check the progress from time to time. Remember - "People Respect only when you Inspect". Once we inspect the work, the next thing is to review the work and confirm the work is progressing or not. Make sure we get feedback from all the staff members regarding the allotted work. What are the Key Performance Indicators you use to form Strategy? Key Performance Indicators are the measurable value that demonstrates how well the company or organization is achieving the key business objectives. We use various KPIs to measure the performance of the store which are: Sales Per Square Foot Average Bill Value Conversion Average Selling Price Inventory Turnover Net Profit Units Per Transaction Net Promoter Score Top Line and Bottom Line Shrinkage Inventory Turnover All the above metrics are used to form a sustainable sales strategy How do you minimize and handle Shrink in the retail stores? Shrinkage is the loss of goods and merchandise in the retail store. It can happen by customers or by internal staff or by wrong in-warding or outwarding process followed in the store. This shrinkage can be stopped by following the proper tagging standards on the merchandise. Tag all the high-value merchandise and always assist customers so that they feel someone is watching. Customers will drop the idea of stealing if some or the other sales associate is around the section. Frisking all the staff at the exit and maintaining a single entrance/exit point for store associates will help on reducing the shrinkage. The Supply chain executive has to make sure that proper in-warding and outwarding processes to be followed to reduce the paper shrinkage. Paper Shrinkage is shrinkage due to system error or wrong entry into the system. High-Value items should be counted on a daily basis and an inventory register must be maintained to keep the track of these high-value merchandises. Link for KPI's of retail Store Manager :    • Key Performance Indicators (KPI) Calc...   Get Connected with us on : Instagram :   / review.machine   Facebook :   / reviewmachine2020   Blogger ID : review-machine.blogspot.com Join Our Telegram Group : https://t.me/reviewmachine Join Our Whatsapp Group : https://chat.whatsapp.com/BiZdq36NRMY...