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Cash Handling in Retail

Learn cash handling procedures and security for any retail environment. Find out where to purchase cash registers and other cash handling equipment. Print forms for balancing cash drawers and estimate how much money to keep in the till. 1. Retailer Submitted Tips Balancing a Cash Register The process of counting the money, reconciling the receipts and balancing the cash drawer creates an internal control or accountability of the day's transactions. Here are some tips for how, why and when to balance the cash drawer. Sponsored Links Management retailingRetail Management Solutions by IBM Read Business Value Report, On IBMwww.ibm.com/RetailManagement Cash ManagementLooking for Secure Online Money Management Software?Try Perfios Nowwww.perfios.com HandlingHandhabung fr das Wenden, Stapeln, Beschicken, Vereinzeln, bergeben.www.venjakob.de Cash Register vs. Point of Sale (POS) System The one item in a retail store a business owner cant do without is the cash register. Whether its the traditional, electronic cash management system or an elaborate computerized point of sale (POS) system, every store needs a machine to process sales. Here's where to buy cash registers, the benefits of a POS system and understanding your business' cash management needs. Cash Registers Under $200 There are several good cash registers available today for less than $200. While it may seem these low-priced machines are sacrificing functionality for price, we suggest you take another look. These affordable electronic cash management systems come with thermal printers, built-in customer display poles and drawer locks. The following are our favorite cash registers under $200. Daily Cash Drawer Report The process of counting the money, reconciling the receipts and balancing the cash drawer creates an accountability of the days transactions. In order to track the day's sales, use the following form to balance the cash register. How Much Money Should I Keep In The Cash Register? The amount of money a retailer should keep on hand will vary by the volume of sales, the ability to safely store the money and the type of payments the retailer receives from customers.

Refunds & Returns


Need tips for creating a policy on returns, refunds or merchandise exchanges? We have resources for retailers on writing refund policies, advice for preventing return fraud and how to convert returns to sales. Merchandise Return Form Download this sample merchandise refund and return form for your retail store. Convert Returns into Sales As retailers, our job is to satisfy our customers and returns and refunds are a reality of retailing. Here's how to turn those inconvenient returns into exchanges and avoid refunds by implementing these simple customer service skills. Sponsored Links ReturnsEarn great rewards fast at LQ! Free nights, airline miles, GCs etcwww.lq.com Returns And RefundsSearch for Returns And Refunds Find Returns And Refundswww.ask.com Retailing in India?List Your Brand Here Reach out ot 1000's in every citywww.retailduniya.com Dealing With the Disgruntled

In retail, it's inevitable that there will be the occasional disgruntled customer. No matter how wonderful your products are or how committed you are to provide the best customer service, problems do occur. Armed with the following customer service tips, you can diffuse a situation and possibly even save the customer, as well as the sale. How to Handle Product Recalls If a recall is issued, a comprehensive plan that reaches the entire distribution chain to consumers who have the product is put into action. Advance notice of the recalled products will then be passed to participating retailers. This retailer's guide to recalls explains how to handle product recalls at the store level. Recognizing Return Fraud Does your return policy allow stolen merchandise to be returned for cash? We certainly hope not! However, the National Retail Federation's Return Fraud Survey says criminals often take advantage of retailers with relaxed return policies. Learn the types of return fraud and the signs your retail business may be the vicitm of return fraud. Writing a Return Policy Retailers should keep customer service in mind while writing a return policy. It's a delicate balance to strike, but an obtainable one. Consider the following when creating your return policy.

Retailing Tips - Retail Advice Submitted By Retailers


Our collection of retailing tips has been gathered from the advice and wisdom of other retailers. Browse this guide for retail tips on customer service, cash handling, store operations, sales, loss prevention, and other advice for retailers. 7. 8. 9. 7. 8. 9. Cash Handling Tips (3) Customer Service Tips (1) Loss Prevention Tips (2) Marketing Tips (2) Staff Management Tips (3) Store Operations Tips (4) Share Ways Your Store Has Reduced Business Expenses In most every retail business there are generally areas in spending in which retailers can reduce without compromising customer service or quality. Share ways your business has reduced expenses or cut costs. Sponsored Links Retail RetailingApply for Retail Retailing Register & Get Multiple Interviewswww.timesjobs.com/Retail+Retailing Marketing EducationGet new ideas to formulate your next-gen marketing strategies. Go!www.thecmosite.com RetailApply to Retail Submit Your Resume Free. Now!www.monsterindia.com Share Your Green Efforts - How is your store implementing sustainable How is your store implementing sustainable practices? Share your retail business' green efforts. How Does Your Store Prepare for Peak Sales Periods? How does your retail store prepare for peak sales periods? Share how you and your staff survive the busy selling season or special sales event.

Retail Loss Prevention & Security


Investigation, security services, and theft prevention articles which include ways to reduce retail shrinkage, how to discourage shoplifting and employee theft and loss prevention statistics. 1. 1. Safety Issues (8) Emergency Planning (12)

5 Ways to Avoid Office Supply Scams Office supply scams are on the rise and its time for retailers to put extra precautions in place to avoid getting taken by these unscrupulous salesmen. Take a look at the following tips from the Federal Trade Commission to help your retail store avoid getting ripped off in an office supply scam. Sponsored Links loss preventionloss prevention eas factory Retail security tag systemwww.dragon-guard.com Saike EAS securityChina factory/EAS system/accessary specialize in retail loss preventiowww.skdz.net/en SmartWrapWorld`s first intelligent Security for Card Boxes against pocketingwww.smarttecfactory.com Shoplifting Prevention 101 This shoplifting prevention guide will help retailers identify shoplifters and shoplifting methods, create a less attractive environment for shoplifters and teach retailers how to put policies and procedures in place to protect their store against theft. 4 Sources of Shrinkage The percentage of loss of products between manufacture and point of sale is referred to as shrinkage, or sometimes called shrink. Here are the four major sources of inventory shrinkage in retail. 10 Retail Loss Prevention Books Preventing shoplifting, stopping employee theft and reducing shrinkage can help ensure the retail store is keeping the most revenue possible. Here are the top picks in loss prevention books. Customer Service to Prevent Shoplifting Good store management can be an effective tool against shoplifting. If your store has been designed with loss prevention in mind, another form of prevention is to use customer service techniques to take away opportunities to steal. Design Store to Reduce Shoplifting The easiest way for retailers to discourage theft in a store is by taking away opportunities to steal. A well-designed store layout will not eliminate all shoplifting but will help reduce it. Here's how to use your store design to preventing theft. How to Identify Shoplifters In order to stop a shoplifter, retailers must first be familiar with the categories of shoplifters, common shoplifting methods, and know what to look for in customers who exhibit strange behavior. Learn how to spot a shoplifter. Recognizing Return Fraud Does your return policy allow stolen merchandise to be returned for cash? We certainly hope not! However, the National Retail Federation's Return Fraud Survey says criminals often take advantage of retailers with relaxed return policies. Learn the types of return fraud and the signs your retail business may be the vicitm of return fraud. Shoplifting Policies and Procedures It is important to plan policies and procedures for shoplifting early in the business planning. Take the following questions into consideration when writing your shoplifting policies and procedures.

Emergency Planning and Business Continuity


Every retail business should be ready in the event of a natural disaster, act of terrorism or other emergency situation. View these resources on emergency planning, business continuity, disaster recovery and crisis management. Emergency Supplies for the Retail Store In order to protect the health, safety and well-being of employees and retailers should prepare, review, and revise their emergency plans and evacuation procedures. Here is a basic list of recommended emergency supplies. Power Failure in Your Store We all hope we're never faced with having to operate a retail store without electricity, but acts of nature, mechanical problems and other emergency situations could result in power failure at your store.

Sponsored Links Management retailingRetail Management Solutions by IBM Read Business Value Report, On IBMwww.ibm.com/RetailManagement Crisis ManagementCrisis Management Training Program For Individuals & Corporates!www.continuityandresilience.com Emerg. Planning/ResponseDisaster Management International - Emergency and Disaster Responsewww.dmintl.org Starting Your Business Continuity Plan What does it take to keep you business running in the middle of a disaster? About.com's William Deutsch helps you plan for the worst. Data Backup is The Best Data Protection Would you have the data you needed to carry on if your business burned to the ground? Learn how to establish a backup routine that will protect your critical business data from disaster with help from About.com's Susan Ward. Disaster Recovery Decision Making for Small Business Small business is ill equipped for disaster recovery following a major catastrophe. Learn the 9 factors you need to consider when deciding what direction to take your small business following a natural or man-made disaster. Survive the Unthinkable Through Crisis Planning A crisis and a disaster are both bad for your business, but they are very different. Find out about both and learn what to do if the unthinkable actually happens to your company, from About Management. American Red Cross Whether you are a business owner, a manager or an employee, make sure you know what to do in the case of an emergency. FEMA: Business Recovery Checklist The intent of this "Checklist" is to provide a means of creating a "Business Recovery" manual for your business to used in the event that you had to execute a recovery of you business due to a natural or man-made disaster. OSHA: Evacuation Plans and Procedures This eTool will help retail businesses implement an emergency action plan, and comply with OSHA's emergency standards

Stock and Inventory Job Description - Retail Career Job Profile, Stockroom
By Barbara Farfan, About.com Guide

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See More About: entry level retail jobs retail stock and inventory retail stocker job description retail career jobs Sponsored Links Supply Chain JobsCertified Supply Chain Professional Accelerate your career today.www.apics.org/cscp Inventory ManagementTrack All Your Finances in a Place. Online Finance Management Made Easywww.perfios.com Facility Management JobsPGcFM - Your gateway to work aboard 100% placed in current batch. Applywww.ifmiindia.org/contact Retail Industry Ads

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Retail Accounting Jobs Retail Stores Jobs Computer Jobs

y Inventory Management Sponsored Links Jobs for FreshersCompanies Hiring Freshers Now. Sign up for Free to Apply.MonsterIndia.com Project Management CourseLearn the concepts of Project Management and its benefits here!www.PMI.org.in/Enquiry
Overview of Stocking and Inventory Associates Jobs: Stock and inventory associates are responsible for the flow of merchandise from the point of delivery to the sales floor or internal destination. When working in this role, you may be responsible for receiving, unpacking, processing, organizing, and storing merchandise. This position is not just about heavy lifting. The companys merchandising and display standards will be in your hands, so your work will ensure that products are eaasily accessible, visually appealing, and constantly available. Your work will enhance the brand image of both the products and the store, and positively impact the customer experience. Key Responsibilities in Stock and Inventory Jobs: As a stock and inventory associate, you will contribute to the profitability of the retail operation by receiving, handling, and helping to manage the inventory of merchandise and supplies in a timely and organized manner. Receiving: Supply and inventory associates check merchandise and supply deliveries for accuracy, verifying that quantities received match bills of lading, purchase orders, and other documents. After safely staging incoming shipments, you will maintain ongoing and proactive communication with key partners about new arrivals, order overages and shortages, and delivery delays. Inventory Responsibilities of Stock and Inventory Associates: Accurate tracking and documentation are key responsibilities of stock and inventory associates. By accounting for merchandise and supplies, you will enable compliance with designated inventory levels and help prevent run-outs. You will provide daily accounting and documentation, but you will likely also participate in formal periodic inventory audits. External transfers, damaged merchandise, and manufacturer returns will likely be included in your responsibilities. You will help decrease store shrinkage by researching inventory discrepancies, and reporting suspicious activities to loss prevention specialists. Merchandise Handling in Stock and Inventory Jobs: In general, stock and inventory associates are responsible for shipping merchandise and supplies in and out of inventory to internal locations and departments. Specifically, this means that you will pull items from storage, physically move them, stock shelves, fill displays, and use tracking and communication tools to advise appropriate partners about product placement and new inventory levels. You will organize the stock room or warehouse, and ensure that accurate labeling, logical placement, neat arrangement, and cleanliness are maintained. Periodically you may be preparing packages for external shipment.

Qualifications of Stock and Inventory Associates: Employers will be looking for certain key qualities essential for success in the stock and inventory associate role. Strong organization, multi-tasking, versatility, communication, and attention to detail skills will be required. Your success and happiness in this position will require a positive attitude, a cooperative nature, and self-motivation. Prior Experience: This can be an entry level position in large retail operations which have a stock supervisor. In smaller operations with minimal supervision, previous warehouse, logistics, stock, receiving, inventory, or retail experience may be required. Skill Requirements for Stock and Inveotry Jobs: You may be using a wide range of equipment and machines, including power jacks, pricing guns, cardboard bailers, trash compactors, cranes, hoists, and forklifts. Training experience, or appropriate certification would be helpful and may even be required. Larger retail operations will undoubtedly employ a computer system, so a basic understanding of Microsoft programs such as Excel, Access, and Outlook will be needed. Accuracy with basic math and proficient use of a calculator will be required. Physical Requirements for Stock and Invetory Associates: Since this position requires the handling of merchandise, supplies and materials, it will be physically demanding. Your physical functions will include:

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Ladder climbing Lifting up to 50 pounds without assistance Bending, twisting, reaching, pushing, pulling, and performing repetitive motions Standing and walking for up to 8 hours in a row Moving large quantities of merchandise with carts, dollies, hand trucks, and other moving equipment

Additional Requirements to Work In a Stock and Inventory Job: Because you will have access to large quantities of new merchandise, employers will probably require some combination of criminal, background, drug, credit, and driving record screenings. If operation of a vehicle is required, a valid drivers license and clean driving record will also be required. Many retail operations prefer the stocking duties to be performed before or after the regular hours of operation, so you will need the flexibility and willingness to work late nights, early mornings, weekends, and holidays. Education Requirements for Stock and Inventory Associates: The education requirements for this position are not stringent, but most employers will want you to have a high school diploma or GED equivalent. A stock and inventory associate position would be a good job for someone seeking a retail or business degree because it will set you up with retail experience that may be required for higher level post-graduation position.

Why Retail Education is Important or Not >> Compensation for Entry Level Stock and Invetory Employees: Stock and inventory associates are usually paid between $7.00 and $12.00 per hour, depending on the size of the operation and its geographic location. As with most retail jobs, merchandise discounts will probably be part of your benefits.

Store layouts
When setting up a retail store layout it is imperative to remember that image is absolutely everything. Atmosphere and irresistible visual merchandising displays are what attracts customers By Seema Seth | June 07, 2011

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Retail-Store-Operations

Have you ever wondered why all shops are not designed the same way? Why some are diagonal, others are straight, geometrical or angular? Well-planned retail store layout allows a retailer to maximise the sales for each square foot of the allocated selling space within the store. When setting up a retail store layout it is imperative to remember that image is absolutely everything. Atmosphere and irresistible visual merchandising displays are what attract customers. The store fixtures for your setting as well as special lighting techniques to accent products can make the all the difference between a purchase and a pass-by. Therefore, planning the right retail store layout boils down to doing your homework. Take the time to view different floor plans and retail store designs. As a retailer, no one can afford to turn off a customer, and a well-planned retail store layout allows a retailer to maximise the sales for each foot of the allocated selling space within the store while at the same time reducing the opportunity for

theft. When planning your retail store layout, the amount of selling space will be one of the most difficult and important factors to determine. Stores have different layouts depending on the type of products they keep and their budget. Here is a look at the various floor plans: 1. Straight floor plan is the most economical design made using walls and fixtures to create space. It deftly utilises the walls and store fixtures to create small spaces within the retail store. The straight floor plan is one of the most economical store designs. 2. Diagonal floor plan is good floor plan for self-service types of retail stores. It offers excellent visibility for cashiers and customers. The diagonal floor plan invites movement and traffic flow in the retail store. 3. Angular floor plan is best suited to high-end specialty stores. The curves and angles of fixtures and walls makes for a more expensive store design. However, the soft angles create better traffic flow throughout the retail store. 4. Geometric floor plan is best suited for clothing and apparel shops. It uses racks and fixtures to create an interesting and out-of-the-ordinary type of store design without high cost. 5. Mixed floor plan incorporates several elements of other plans; namely the straight, diagonal and angular varieties to create a highly functional and unique store design. This retail store layout by its very nature propels traffic towards the walls and back of the store.

Powerful promotions work


Promotion, an essential part of marketing strategies of any business, is responsible for a substantial contribution to a brands success. Promotional strategies inside stores and shopping malls work well with customers. Lets delve in to know By Neha Malhotra | November 30, 2009

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Retail-Store-Operations

Today, retailers have learnt about consumers psyche and know what clicks well with them. Instead of you walking into shops, shops are walking up to your doorstep by way of contests and campaigns promising you an audience with celebrities whom you dreamt of, a substantial amount of money in a lucky draw or just another offer. By nature, consumers are inquisitive about products and, at the same time, eager to learn about the unknown product. Retailers are aware of this and in a mad race

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It is raining films this Diwali Advertising on a mobile route Socially networked for business Skill of managing space Marketing with a personal touch to grab attention on consumers; they resort to various marketing and promotional tools that catalyse footfalls and consequently, sale figures. Retailers need to make their brands popular and cash counters ringing. Acting as a bridge between the brand and the consumer, promotional campaigns and advertisements serve towards fulfilling this need. Promotions contribute to increase the sales and they are over and above the normal marketing strategies. A promotional campaign gives a live experience and builds a rapport with the audience and turn prospective customers into buyers. Promotional strategies Every brand has its own promotional strategies and the kind of service offered can be lucky draws, free service for a day or specific hours usually called happy hours, coupon system and valuable cards offering different kinds of memberships. Mobile promotional strategies: This includes moving of trolleys inviting people to visit stores, giving handouts and encouraging shoppers to participate in lucky draws. Static promotional strategies: One thing is to get a customer inside the store and another is to promote the brand by providing an experience of the brand to prospective customers with their offerings for e.g. a candy store may offer candies for tasting for customers so that its easy for them to make a choice. Interactive promotional strategies: In the middle of the mall, a stage is set up for games, contests or ramp shows and the like, depending on what you are promoting. In this way, the customer is let to experience the

brand through interaction and participation in an event or contest. Effect on sales Promotion is a powerful strategy in making brands popular, inviting customers to have a Brand Experience and hence encouraging sales. Brands spend a fair amount in advertising and promotion so as to reach out to every corner of their target area. Promotions attract customers and helps create awareness and trials. But, it is not necessary that they generate repeats. Promotional strategies can get the attention of shoppers but the repeats are dependant on the quality of the products and the service provided. The main purpose however is to make customers walk inside an outlet. If an outlet is offering a discount and a customer is tempted to walk in and ends up buying but if he is not happy with what he has bought, he will not come back to the store. In this case the brand will be unsuccessful despite having attractive promotions. Word of caution There are brands offering never-before-prices and month-long discounts. Over promotion would only dilute the brand equity and credibility. So, promotion strategies should be used with utmost caution and control. If a brand is constantly in sales offering discounts, the brand equity is disturbed and tends to go down. There is a very thin line between attractive promotions and over the board promotions. So they must keep this very important factor in consideration. Promotions are a way of keeping the customers interest intact. Brand names offering services and products worth customers money will go on and survive competition in the market.