Retail Consulting Companies
Sagarika Mukhopaddhya
About Retail Consulting:
Retail consulting involves all stakeholders like consumers, employees, partners, investors and the entire Earth. It is all about profitable growth, customer expectations, demand& supply, innovative business models and digital & technological updates. Retail consulting services can range from grocery, textile, luxury, travel to an array of markets. The goal is to create and deliver tailor-made, customized and personalized strategies and ideas o address retail challenges, work on given opportunities and ensure maximum return on investment in the future.
Strategies used by Retail consulting Companies include refining the brand image, using a 360 radar strategy, ecosystem consideration, merger and acquisition expertise and applying advanced analytics to work on data. IT and Technology remains its strength and strongest strategy as it executes ambition
Some of the key services provided by Retails consultants are as follows:
· Retail Strategic Planning, improvement of performance and store operations
· Store Design / Construction, site selection and assortment planning
· Inventory Planning and Control and back-office support
· New Retail Concept Development and Visual Merchandising
· Retail Brand Development, licensing and marketing
· Retail Consumer Research & Information Technology
· Staff and Structure, Retail Executive Search and Retail Interim Management
· Retail Museum Services
Core Responsibilities of Retail Business Consultants
Retail consulting companies provide expert advice in a specialised field of business and he needs to focus on various areas to fulfil their responsibilities. It is imperative to specialise in a specific field of retail consultancy and then partner with the right vendor or organisation which will further ensure success of both parties. Introducing Technology and software, designing a retainer service for retail consulting companies is essential. Documentation is the key to be proficient as a retail consultant, so focusing on short sales cycle and closing and delivering major profitable deals with appropriate hard and soft copy documentation is crucial. The retail consulting services lie in all sectors:
Responsibility towards Customers – Their primary job is to build trust and goodwill about the brand among consumers and generate maximum satisfaction with zero complaints. Customer satisfaction is a direct lead to the enhancement of a profitable business.
Responsibility towards employees – Focus area of Retail Business Consultants is to treat all employees with respect and introduce operational and retail jobs as per the suitability, expertise and experience of employees to extract maximum productivity and profitability. This further leads to employee satisfaction.
Responsibility towards partners and investors – This is the top management that retail business consultants are answerable to. This should be the focus areas, profits being the needed result.
Responsibility towards Mother Earth – substantiality and environment-friendly retail business will be kind on the planet and thus becomes a crucial responsibility of retail consultant firms.
Retail Applied Intelligence
Keep a stringent check on demand and supply, study the market closely and keep the loyal customers always as the focus centre – from the products designed for the supply chain. Delivering the maximum in the least time, generating productivity and creating wealth is the goal of a retail consultant.
Conclusion
Becoming a retail consultant is an aspiring and inspiring job for many professionals. With the required passions, skills, experience, right partners, and expertise, it is quite realistic to become a top-notch retail consultancy firm with the best clients in the market.