Introduction to Space Management

Description

Introduction to Space Management

This course introduces base knowledge and key concepts in selling space management and merchandise presentation.  It sets the baseline knowledge for further classes in the selling space management and merchandise presentation suite.

Who is it Suitable For?

This program is designed for:

• New hires to retailing in various roles and consumer goods companies' category management teams Store managers, potential store managers and new area managers
• Companies providing related services to retailerse.g. consumer goods manufacturers, category management teams and planogram software providers.

Class Objectives

By the end of this program, learners will be able to

• List the goals of space management
• Discuss the various competing issues involved in optimizing space productivity, and the factors used in allocating selling space.
• Explain what a leased department or concession is and how it differs from own bought departments
• Explain the criteria used to locate individual departments on the sales floor.

Detailed Content

The detailed content includes:

• Types of store space – selling and non-selling
• Occupancy cost of space and the importance of space yield
• Which key performance indicators to use to track and drive space productivity
• Measuring the store accurately and consistently
• Leased departments and when they might be better than own bought departments
• Challenges with leased departments
• Common floor plan styles and which retail segments they suit best:
  • Free flow layout
  • Grid layout
  • Loop layout
  • Fashion layout
• Store formats exercise
• The importance of store ambience
• Where departments or categories should go on the sales floor and the link to shopper missions
• The important relationship between floor layouts and merchandise hierarchies for sales reporting (which many retailers are unaware of)
• An initial set of layout guidelines for merchandise within a department or category.
• Mastery test
• Learners completing the mastery test and obtaining a 70% pass mark will also receive a mastery certificate and digital badge upon completion.

Benefits of Studying This Program

Learners studying this program will gain familiarity with the key baseline knowledge on space management, which is a pre-requisite for embarking on space productivity improvement projects.

Hours of Study

1 to 1.5 hours

Resources Included

The class includes the following downloadable resources for printing and review:

• Optimizing Selling Space Productivity in Stores and Online
• Space Performance Improvement Action Plan
• Space Management Guidance Checklist
• Subjective Factors Affecting Department and Product Placement

Pre-Requisites Necessary

None, but those with no previous retail experience will find it beneficial to study the Overview of Retailing Class first.  

After This Program

This program is module 1 from our Space Management training suite.