15 Tips for Retail Success
The First Five – The Science of Scheduling
There’s no denying it: Retail has changed dramatically in recent years. Customers expect seamless experiences, immediate service, and knowledgeable associates. Meanwhile, Retailers must balance rising labor costs, evolving compliance regulations, and shifting consumer traffic patterns.
The Retailers that win in this landscape are those that take a strategic approach to workforce management. That means:
– Scheduling with precision. Getting the right people on the floor at the right time.
– Measuring the right metrics. Tracking KPIs that impact revenue and performance.
– Investing in technology. Using real-time data to make smarter decisions.
To help retailers navigate this evolving landscape, we’ve compiled 15 must-know tips for Retail success. These strategies, based on industry insights and real-world results, help Retailers optimize labor, boost productivity, and drive stronger sales.
Tip #1 Schedule To Peak
50% of your sales happen in only 20 hours. We call these your peak hours. These are critical windows that can make or break your sales targets. We analyzed 4500 stores over 13 weeks and discovered that Retailers who schedule to peak hours, see a sales lift of lift of 4-6%, assuming 90% coverage.
Tip #2: Measure What Matters
Let’s talk about Sales Per Hour (SPH). [March blog #3] SPH is a key indicator of store productivity. If it’s too low, it indicates the store was overstaffed leading to inefficiencies. And if it’s too high, it means the store was understaffed and your team might be stretched too thin, risking sales opportunities. Look at your SPH metric and keep digging to uncover the root cause of why the store is potentially understaffed/overstaffed. Could it be availability, recruitment needs, insufficient scheduling? By asking the right questions and looking at your data, you can balance your labor allocation and maximize results.
Tip#3: One Size Doesn’t Fit All
If no two stores are the same, and no two malls are alike, [Changing role of mall] why do many Retailers treat them as if they are? Each store format has its own unique traffic patterns, customer behaviors, and labor needs. Applying a one-size-fits-all strategy risks:
– misaligned labor,
– unbalanced workloads,
– a poor customer experience
The solution? Tailored labor planning that takes into account the nuances of each store and mall. Because the right strategy for one location might be completely wrong for another.
Tip #4 Celebrate Wins Daily
Have you stopped to pause and celebrate wins of the past week? Recognition fuels engagement and builds a culture of success. Take a moment at the end of each day to highlight wins – big and small. Whether it’s hitting a sales goal, or solving a customer problem, these moments build morale and keeps teams motivated.
Tip #5: Schedule to Your Customers, Not to Gut Feel
Copying last week’s schedule might feel efficient, but it ignores the ever-changing patterns of your customers, and ultimately, that leaves money on the table. Instead, schedule your team to match customer traffic. By creating schedules based on data, you can:
– Ensure peak times are covered with the right people
– Build sales targets steadily throughout the day
– Keep each store on track to meet and exceed goals
Start the week by making data-backed decisions.
Ready For Part Two?
Coming up: The next five tips – Productivity and Performance