Category Archives: Part 5: Managing a Retail Business

This sub-category encompasses retail organizational structures, human resource management, financial operations management, and operational operations management.

Tracking Employee Behavior to Reduce Theft

Posted on April 6, 2013 by bermanevansretail

The term “retail shrinkage” encompasses any financial losses due to employee theft, customer shoplifting, vendor fraud, and administrative errors. Globally, inventory shrinkage exceeds $125 billion annually. Of that amount, employees account for 35 percent, customers 43 percent, vendors 6 percent, … Continue reading →

Posted in Global Retailing, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Privacy and Identity Theft Issues, Technology in Retailing | Tagged , , , , , , , , , , , | 5 Comments

Even for Wal-Mart, Cost Cutting Has Its Limits

Posted on April 5, 2013 by bermanevansretail

Wal-Mart, the world’s largest retailer prides itself on its cost efficiencies and the resulting low prices. Hence it’s slogan: “Save money. Live better.” Its aim is to always be the lost-cost, low-price leader. But, even for Wal-Mart, costs can sometimes … Continue reading →

Posted in Part 1: Overview/Planning, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , , , , , | 1 Comment

Valuing Employees Through Good Pay

Posted on April 2, 2013 by bermanevansretail

Paying low wages to retail employees may keep costs down. But that does not mean this is necessarily the most profitable path to pursue. Consider these observations from Sophie Quinton, writing for theatlanticcities.com: “Many employers believe that one of the … Continue reading →

Posted in Part 1: Overview/Planning, Part 5: Managing a Retail Business | Tagged , , , , , , , , , , , , , | 2 Comments