CORPORATE PROGRAMS

New Retail Masterclass

Study Type

Offline

Duration

HRDF Claimable

Language

HRDF

Non-Claimable

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Retail may not be as old as the universe, but it is undoubtedly one of the world’s oldest industries. The retail trade has been with us since humans first developed agriculture and began to settle in large communities.

With the power of globalisation, retailers provide consumers all over the world with a vast array of that their hearts might desire. The vicious competition among customers leads to price wars, takeovers, automation, promotions, segmentation, outsourcing and other strategies.

What’s particularly concerning for the retail industry and its suppliers today is that many of them are struggling versus technological disruptors during a period of almost 10 years of economic expansion. As challenging as the times, may be for some, at this point, retail is far from dead, and there is always opportunities for those paying attention.

This program covers trends, challenges and a multitude of formats and strategies in retail that have been developed over the last century.

WHO SHOULD ATTEND

Retail Personnel, Supervisors, and managers.

LEARNING OUTCOMES

At the end of this training program, participants should be able to:

Use the lessons from the past in the short term to figure out how to co-exist with giant retail companies and in the intermediate and long-term to help participants decide how to strive in the retail space
Able to analyze the current retail store readiness
Form a retail promotion strategy to enhance store performance
Demonstrate skills applying retail strategy mix
Discover new opportunities derived from emerging trends

COMPETENCY ENHANCEMENT AREAS

Knowledge	Skills	Attitude
Understand the future of retail – readiness of retailing and its landscape Comprehend the key elements of the perfect digital storm Learn about the four pillars of new retail The four C’s and U’s Have a better understanding at the New Retail titans, technologies and consumers	Implement the push and pull factors of retail Mapping retail strategy with the power sources of New Retail Apply the New Retail Hierarchy of Needs to improve at commerce Incorporate the five core technologies in getting valuable customer data Assess current retail practices in their ability to respond to environmental trends	Recognize that change is constantly happening in retail industry Embrace the roles of technology in everyday life Be confident in the future of retail Acknowledge there are multiple factors contributing to New Retail Build the right mindset for retail business