Running a retail business store is different from running supermarket. Though supermarket is a kind of retail store, it has many different from other grocery stores that we use to find in our locality. Supermarket is a giant retail grocery store that comes with different sections for products. From baby foods to the pet care items and from fresh meats to frozen foods or vegetables, supermarket stands as one stop store where all kinds of household requirements and food items can be found. To manage supermarket, certain strategies are applied by the business owners.
1. Commodity Orientation
At supermarkets, commodities are kept in an organized manner. Now, business owners have to organize the commodities in a logical way. For example, the next section of fresh meat or frozen meat should be fresh vegetable and other edible items. Putting up a section of pest repellant right after fresh or frozen meat section is illogical. Orientation must be meticulous and logical. This will give better chance for enjoying higher sales. When things are placed on a proper order or orientation, people will be able to find things that they need properly. As a result sales will increase.
2. Market Layout
Not just placing the commodities in proper orientation, market layout has also been considered as one of the most important things. Basically, market layout has to be planned with precision so that maximum space utilization can be done. Utilization of maximum space has a lot of significances. First of all, proper utilization of space through proper layout will help a supermarket to accommodate more products. Exhibiting more products means gaining better chance for selling the products. It gives buyers a lot of choices and buyers like that. It is to be kept in mind that buyers visit supermarket to avail different choices for the products at one place. They can compare things and then they can buy them.
Market layout is also important to save time of the buyers. People do not come to supermarket, having a lot of time. They visit supermarket for some specific reasons. They look for a few specific products that may not be available at other places. So, it is important to have a proper supermarket layout so that buyers can save time in finding their preferred products at the right places without facing any troubles. For market layout process, floor design is required. It is important to follow certain safety instructions or standards for the market layout process. There must be emergency exit, fire extinguisher positions, CCTV cameras and other security equipments. Having all these things actually helps businesses to grow by clinching higher profitability.
3. Commodity Price
Price of the commodities is very important for enhancing sales or profitability through the supermarket store. Basically, a supermarket comes with different ranges of goods, featuring different prices attached to the commodities. Now, people generally make it a habit to buy things for supermarket, as they can attain more saving on their monthly grocery items. At the supermarkets, prices of certain goods can be found very low at different occasions. For example, prices of seasonal fresh fruits should be low so that buyers can purchase them more.
Certain products remain in stock for a long time. The retailer businesses always want to clear the goods that belong to the old stock. Basically, there is risk of financial loss if the old stock products exceed expiry dates. Hence, they are required to be sold as early as possible with minimal profit margin. In this way, by giving good amount of discounts on the products, the supermarket store can gain good reputation. It can get popular among the buyers. Nevertheless, old stock items are cleared with minimal profit. At the end of the day, sales figure look healthier for such supermarket retail stores.
4. Management Level
Sales and profitability of a supermarket store depends hugely on the meticulousness, vastness and talent of the supermarket management team. A management team has to deal with various kinds of responsibilities. The responsibilities of the management team have been discussed below.
• Improvisation: The management team has to work on improvisation on constant basis. The store should look well organized, colorful and properly oriented.
• Managing inventory: Checking the inventory status and staying in connection with the distributors is important for running supermarket store business smoothly.
• Dealing with Buyers: At the stores, buyers need someone to approach in case if they have some queries regarding some products. Management team should be well mannered and prompt to communicate with them.
• Billing Counter: Billing counter or checkout area is the key area of a supermarket store. If a store usually finds heavy traffic, it should invest money in having multiple billing counters as buyers do not like to stand on long queue for hours.
Many other aspects are required to be managed as well. Safety of the store is such an aspect. Most importantly, supermarket management includes checking the possible scopes for implementing technology. It is absolutely important to make the store technology driven so that more convenience can be delivered to the buyers. Technological implementation reduces expenditure, human efforts and brings accuracy as well as profitability.
Every buyer looks for the additional services that supermarket stores deliver. For example, one may have purchased a product, though he or she is hesitant to understand the proper use of the product. At this scenario, buyers need service for guidance on using the product. Buyers need service for locating the products that they want. They need seamless service at billing counter as well. Good service brings better business reputation and that would surely lead to higher profitability.
6. Brand Effect
At supermarket stores, people look for the products that come from popular as well as trusted brands. Keeping too many products from lesser trusted or unknown brands would eventually make a supermarket store unpopular among the buyers. So, it is always important to focus the highest selling brands on the product racks. It will enhance sales and also create trustworthiness.