Specifically designed for individuals who are planning to start or build a retail business, business owners and budding retail entrepreneurs, this carefully curated 8 courses will prepare you to create economic and social value in your business. Based on 8 topics uniquely tailored to a retailer, this programme allows you the opportunity to learn from very experienced entrepreneurs and industry captains in the retail industry such as Andrew Tan, who will guide you in developing relevant skillsets in creating opportunities, positional-leveraging and innovative thinking.

You have the options for Intermediate Level (0.5 day for each module) and Advanced Level (1 full day for each module).

Join us for all 8 modules or pick and choose the topics that you want! We are able to customise the modules for corporate training as well.

Course Fee:

Intermediate Level   First module: $280; subsequent module: $200 each
Advanced Level   $700 per module (SkillsFuture Credit claimable)

 

Contact Sherlene Lim at 9327 6769 or email sherlene@sra.org.sg. Register Now!

1. Understand Retail at the Advanced Level and Market Opportunties

This module will enable participants understand the underpinning of marketing theories and practices, immerse in the language of retail and examine various rationales for how the industry works at a deeper level. They will get a glimpse into the history of retail, as well as, its present status.

Learning objectives:

  • Advanced retailing and marketing terms for the managerial level
  • In-dept exploration into retail concepts (Merchandising, promotion, operations, finance, information technology, human resource management)
  • Understand the retail evolution in three phases – Entry, trading up and vulnerability
  • Identify trends and opportunities within the market

2. Manage Dynamic Changes in the Retail Environment for Strategic Planning

The module will aim to expose participants to various levels of change that they will face as a retailer. Monitoring the retail environment is a constant and occasionally overwhelming task as it is always in a state of flux. Therefore, participants should keep abreast of the current issues – awareness of social, demographic and legal shifts, as well as, global trends will help retailers initialize the strategic planning process.

Learning objectives:

  • Identify the changes that can affect both retailers and consumers (Economy, Legal and Political actions, Demographic changes, Green movement, Social change, Ethical issues, Unpredictable events and Advances in technology)
  • Delineate the important components of strategic planning and how they can help to address respective changes

3. Develop a Retail Concept into Reality and Effective Visual Merchandising

This module will examine the importance and relevance of having a brick-and-mortar store in the 21st century as it aims to expose participants to the market and potential financial return from the selected opportunity, and various risks and mitigation strategies associated with pursuing certain retail investments.

Learning objectives:

  • Evaluate the need for a brick-and-mortar store from their characteristics, strengths to challenges
  • Understand the various considerations when choosing a specific retail site (store location and planning)
  • Learn how to conduct store design and higher-level visual merchandising

4. Improve Retail Productivity with Technology Augmentation

The module will help participants to identify the latest trends associated with retailing from e-commerce, m-commerce to augmented reality and virtual reality. They will be better able to understand how multichannel retailing has evolved far beyond simply being an attractive tactic for companies to contemplate.

Learning objectives:

  • Examine the evolvement of retail to electronic retailing
  • Evaluate the scope and status of electronic retailing
  • Identify key trends and strategies in online selling
  • Highlight other methods of electronic retailing including the rise of m-commerce
  • Examine how technology can be otherwise incorporated into the retail world

5. Effective Financial Analysis in Retail (Financial Modelling & Management)

The module will help participants to understand how to budget and build a financial plan, model cashflow projections, cost ratios, profit-loss management and analysing balance sheet. This is aimed at equipping participants better with the knowhows on how to manage the financial performance of their retail. This module will also be touching on the fundraising proposition for retail enterprises.

Learning objectives:

  • Investigate several profit-management models and tools that gauge financial performance
  • Discern the implications of the strategic profit model and key ratios
  • Interpret benchmarks used by global and multichannel retailers
  • Describe methods of measuring financial performance
  • Obtaining funding for business

6. Manage Marketing Mix and Effective Personal Branding

This module will help participants understand the power of brand stories and the importance of creating a brand in the market. A strong grasp of emerging trends can fuel retail growth with the creation of marketing opportunities using the right marketing mix.  It will also feature ways in which one is able to communicate the brand in a consistent and coherent manner and address key challenges associated with aligning market activities with corporate strategy.

Learning objectives:

  • Understand customer behaviour – What shapes their decision making in making a purchase
  • Develop marketing campaigns based on the understanding of customers’ needs and preferences
  • How to conduct marketing and branding

7. Manage Operations and Management for Retail Excellence

The module will focus on operational efficiency, from developing the retail idea to deciding which products to sell, to determining the right suppliers and pricing and coming up with suitable go-to market strategies. Additionally, the module will be discussing about how to communicate with customers, work with the community, or hiring and overseeing the individuals that run and support the enterprise. 

Learning objectives:

  • Process of management – Planning, Organizing, Leading and Controlling
  • Discuss characteristics of highly effective retail organizations
  • Discuss current challenges facing human resource management, including the impact of downsizing, displacement and outplacement
  • Implement operations plan to achieve retail excellence

8. Delve into the Unknown Future of Retail

The module will help participants understand the changing needs in an ever-changing retail landscape. Firstly, it will compare the Retail Environment of yesterday with the one today. The module will provide them with in-dept understanding on New Retail and consumer behaviours today. How does a retailer deal and adapt to the changes? How can he or she thrive regardless of a change in environment? Our experts will explore the opportunities and prospects moving forward.

Learning Objectives:

  • Understand the changing landscape of retail – How will it change in the future?
  • Examine various technology such as Unmanned shops, AI, 5G , augmented reality (Are all these necessary? Are they doable?)