If you are a retailer and have never attended a Cathy Hotka & Associates’ Store Operations Council meeting, you are missing out! Julie Hunt (VP of Sales) and I had the recent privilege of attending this year’s version in Washington, D.C., in October.
This is a meeting of the minds – great retail minds– primarily from the store operations side of their business that is deeply entrenched with their store associates and customer needs. It is an intimate gathering that allows for open conversation about what keeps them up at night and what are the future needs of their organization.
There were key themes and takeaways from the group that promise to shape the future of retail. Let’s dig in:
Simplifying for Success:
Retail continues to be more complex, and as the retail business has changed over the last few years, complex processes have been added. A cluttered work environment and complex administrative tasks can lead to burnout and high turnover. Retailers should prioritize streamlining processes and ensuring that even managers spend more time on the sales floor than on paperwork.
Understanding Employee Needs:
A critical part of creating an exceptional workplace is understanding your employees’ needs and preferences. They need to love coming to work. Tailoring work arrangements and benefits to their desires can boost morale and productivity. Allowing employee access to digital schedules, enabling shift swaps, and offering a shift marketplace allows them the freedom to work when they want. This engages the employees and drives retention.
Creating Unmatched Experiences:
Retail success lies in creating experiences that delight both customers and employees. When your team is engaged and excited, it reflects in the service they provide. Happy employees lead to happy customers. And in a tight job market it is critical to retain and engage employees to deliver the expected experience.
Leveraging Data:
Retailers are collecting more and more data. In some cases, an overwhelming amount of data. Data is your treasure trove for enhancing in-store experiences. It can help personalize customer interactions, optimize inventory management, and predict trends. Harnessing data effectively is a game-changer. For the store operators (this includes the store and district manager) it is critical to not get lost in the countless KPIs and reports and truly harness what is important to deliver on the business goals.
AI:
Investment in AI is no longer optional – it’s crucial for retail success. The challenge is knowing where to start. AI can enhance customer personalization, inventory management, and operational efficiency. Retailers must find the right entry points.
The Store Operations Council meeting was an invaluable opportunity to exchange ideas, learn from industry leaders, and chart the path forward. These takeaways remind us that, in the ever-evolving world of retail, the only constant is change. Embracing change and innovation is the surest way to thrive.
We’re excited to see how these insights shape the retail landscape, and at Blue Yonder we are committed to leading our team toward a brighter, more sustainable, and customer-centric future. Learn more at blueyonder.com.
