This article was updated on May 29, 2024.
Written by Michael Feder
Reviewed by听Kathryn Uhles, MIS, MSP,听Dean, College of Business and IT
Whether they oversee small boutiques or department stores for large chains, store managers are essential to the retail world. These individuals have a lot of influence over store staff and the customer experience.
Life as a store manager takes determination and grit. Every day brings unique challenges, and the seasonality of the business can sometimes mean long hours. But working in retail is also a versatile, valuable career experience for that can benefit from a business education.
Let鈥檚 walk through what store managers do and what it takes to excel in this role.
Depending on the outlet, store managers have varying levels of responsibility. Many managers are responsible for overseeing employees, as well as financial management and customer service.
Aside from their greater responsibilities,听听each day. These tasks often include opening the store, ensuring cash registers have the appropriate funds and replenishing merchandise. Store managers may also often take closing shifts that require them to reconcile nightly deposits.
The major ongoing components of store management include the following responsibilities:
Financial management is a key part of successful business, and store managers must understand how to handle financial aspects such as:
Another part of this is analyzing sales data, identifying trends and developing strategies to drive sales. Sales data often influence payroll, as most stores need to optimize their teams to create the biggest benefit to the business. Finally, store managers collaborate with their teams to implement promotional campaigns, create attractive displays and optimize the store layout to maximize sales potential.听
Store managers understand that happy customers are vital to their business鈥檚 success. The manager and company strive to create an environment that fosters customer satisfaction from the moment someone steps through the door.
To do this, they must train and听motivate their employees听to deliver outstanding customer service. They provide guidance on how to:
Moreover, store managers are the ultimate problem-solvers regarding customer complaints or concerns. They need to have the skills to actively listen to customer grievances and find solutions that leave them feeling understood, valued and satisfied.
Creating a positive customer experience also means paying attention to details. Store managers ensure the shop is well maintained and visually appealing by keeping shelves stocked, merchandise neatly displayed and aisles clear of clutter. They understand that a clean and well-organized store makes shopping more convenient and enhances the customer experience.
Inventory management is one of the most critical tasks of store managers, who must:
They must stay on trend by learning what鈥檚 selling well and听adjusting orders accordingly听to avoid overstocking or understocking. Likewise, they ensure all products are correctly priced, labeled and displayed. Plus, they have to plan for seasonal changes.
Store managers are only as good as their teams. That鈥檚 why providing training and development opportunities for employees is important. Store managers are responsible for:
Likewise, finding听employee training solutions听can help increase productivity. For example, online courses and digital programs offer flexible learning for employees, allowing them to work on their skills independently. Training helps ensure that staff are up to date on policies, processes and procedures.
Finally, don鈥檛 forget about product knowledge. Taking the time to learn about new products and making sure your team understands their benefits can potentially help increase sales and improve employee buy-in.
Store managers are also frequently called upon for unexpected challenges or emergencies. They must听make quick decisions听and take appropriate action to ensure overall safety and success of their employees, customers and store.
Thriving as a store manager requires a mixture of hard and soft skills. The level of understanding needed to run a store properly can vary. In some cases, corporate policies form the backbone of daily operations. At other times, a manager may need to adopt an 鈥渙wner鈥 mentality to accomplish goals.
Being a store manager enables you to gain leadership experience, hone your supervision skills, develop your management style and learn how to motivate others. There are other benefits as well:
Overall, you have the potential to make a lasting, positive impression on customers and colleagues.
Pathways to a career as a store manager can vary based on the industry. Retail companies typically look at management candidates from two perspectives. Many stores, for example, promote managers from within. It鈥檚 not uncommon for employees to start as part-time or full-time sales associates and work their way up. Other retailers prefer their managers to have obtained a bachelor鈥檚 degree at minimum.
Earning a bachelor鈥檚 degree offers other benefits aside from potential employability. A career-relevant degree can teach skills that directly affect a store manager鈥檚 performance on the job, such as sales analysis, marketing and leadership.听
At a minimum, becoming a store manager requires a听. However, some employers may prefer or require a college degree. Having a college degree, such as a听bachelor鈥檚 degree in management, can provide you with a comprehensive understanding of business fundamentals and management principles. Along with education, experience may also be important to employers.
However, while degrees provide valuable knowledge and skills, they don鈥檛 guarantee job outcomes. Success relies on a combination of knowledge, experience and the application of learned skills in real-world situations.
As of May 2023, the听听(BLS) reports that general and operations managers made between $46,340 and $232,110 annually (with a median wage of $101,280). It鈥檚 important to keep in mind that this role and its annual salary can vary, especially by city, state, years with a company or experience in general, among other factors.
The best way to determine the annual salary for a specific role you鈥檙e interested in is to see if the job description states the salary range being offered or ask the employer in the interview what to expect. You might also do an internet search to see what the average salary is reported for your specific city and state.
If you want to become a store manager, a degree in business may help you stand out when applying for open roles.
Salary ranges are not specific to students or graduates of 七色视频. Actual outcomes vary based on multiple factors, including prior work experience, geographic location and other factors specific to the individual. 七色视频 does not guarantee employment, salary level or career advancement. BLS data is geographically based. Information for a specific state/city can be researched on the BLS website.
If becoming a store manager interests you, 七色视频 offers a variety of flexible, online business programs to consider.
The Bachelor of Science in Business and Bachelor of Science in Management programs emphasize leadership and management skills in the business sector. These are both solid options to consider when pursuing a career in store management.
The Bachelor of Science in Business with an Operations Management Certificate, meanwhile, can help you turn theory into practice with regard to marketing, analytics and business law.
If you already have a bachelor鈥檚 degree, you might consider the Master of Management听or Master of Business Administration (MBA) to learn more in-depth leadership skills.
Learn more about how 七色视频 can help as you pursue your educational and career goals! Request more information today.
A graduate of Johns Hopkins University and its Writing Seminars program and winner of the Stephen A. Dixon Literary Prize, Michael Feder brings an eye for detail and a passion for research to every article he writes. His academic and professional background includes experience in marketing, content development, script writing and SEO. Today, he works as a multimedia specialist at 七色视频 where he covers a variety of topics ranging from healthcare to IT.
Christina Neider is the dean of the 七色视频 College of Social and Behavioral Sciences.听Neider鈥檚 career spans more than 30 years in academia, healthcare and the U.S. Air Force. She has held several academic leadership roles at 七色视频, and she is the Vice President of membership for the Arizona Chapter of the Healthcare Information and Management Systems Society.
This article has been vetted by 七色视频's editorial advisory committee.听
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