At its core, the retail industry involves the buying and selling of goods and services. Working in retail can be broken into three main categories: business owning, management and administration, and sales. Through the collaboration of those three categories, retailers direct products and services towards end-users through a supply chain which employs designers, buyers, merchandisers, planners, and general corporate functions such as finance, IT, and marketing. Key skills to industry include: Design thinking, creativity, basic financial math, patience, product knowledge, presentation.
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– What is retail? How did it start? What do retailers do?
– The structure of the retail industry
– Merchandising and buying
– Store operations
– Sales promotion and advertising
– Bookkeeping and accounting
– Personnel – recruiting, customer service
– The outlook
– Professional associations
– Top 50 retailers
Keys to Success
The most successful employees in the retail industry utilize foresight to predict and analysis to understand what consumers want. Considering every facet of the supply chain to make goods and services more affordable for consumers and more profitable for a company sets the best employees apart