Skills & Competencies for Retail Store Manager

Retail Store Manager job profile

Book a Demo and Receive a Sample Job Profile

JOB SUMMARY for Retail Store Manager

Manages the day-to-day operations of a retail store.

JOB RESPONSIBILITIES for Retail Store Manager

Has responsibility of staffing, store compliance, inventory management, and promotion. Maintains and oversees accuracy of records associated with cash, receipts, inventories, and employee attendance.

Retail Store Manager SALARY RANGE

BASE 50%
$77,725
TOTAL 50%
$86,016
Job Level
M02
Job Code
SM15000295
Education/Degree
Bachelor's Degree
Reports To
Senior Manager

Retail Store Manager Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Retail Store Manager skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
BOOK A DEMO

9 hard skills or competencies (industry competencies) for Retail Store Manager

1 Industry Competency – Retail Industry
Proficiency Level -3
Skill definition-Applying comprehensive knowledge of retail principles, inventory management, pricing strategies, and consumer behavior to effectively manage and operate retail businesses.
Level 1 Behaviors
(General Familiarity)
Defines the importance of effective merchandising strategies in boosting retail sales and profit margins.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Assists customers with product inquiries by providing information about features, pricing, and availability.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Addresses intricate complaints and concerns effectively to ensure customer satisfaction and retention.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Contributes to the development of retail pricing strategies to maximize profitability and competitiveness.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Champions the adoption of predictive analytics to optimize pricing, inventory management, and marketing strategies.
See 4 More Skill Behaviors
2 Industry Competency – Merchandising
Proficiency Level -3
Skill definition-Strategically planning, executing, and managing product merchandising, pricing, and promotions to increase customer engagement and maximize revenue.
Level 1 Behaviors
(General Familiarity)
Cites examples of common merchandising techniques for ensuring consistent brand presentation.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Aids in compiling market research to identify trends and ensure the effectiveness of merchandising strategies.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Analyzes customers' feedback to improve product assortment and pricing plans.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Coordinates with vendors and buyers to ensure timely delivery and optimal placement of merchandise.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Builds relationships with strategic partners to secure access to superior merchandise offerings, data, and terms.
See 4 More Skill Behaviors
3 Retail Store Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Retail Store Manager
Proficiency Level - 4
5 Competency for - Retail Store Manager
Proficiency Level - 5

4 general skills or competencies (Job family competencies) for Retail Store Manager

1 Job Family Competencies – Compliance Management
Proficiency Level -3
Skill definition-Developing and managing compliance tools and processes to ensure employees and operations adhered to laws, regulations, and requirements.
Level 1 Behaviors
(General Familiarity)
Cites corporate regulatory compliance risk management policies and procedures.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Applies basic compliance management principles to evaluate potential compliance risks.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Coordinates any potential compliance issues and changes in compliance regulations to avoid compliance risk.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Collaborates with business management to help the organization meet risk objectives.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Champions the adoption of advanced compliance management systems to manage activities and processes.
See 4 More Skill Behaviors
2 Job Family Competencies – Promotion
Proficiency Level -3
Skill definition-Developing and implementing promotional activities to attract and increase the awareness of customers in buying products.
Level 1 Behaviors
(General Familiarity)
Lists the basic techniques used in executing promotion in the marketing sector.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Shows potential customers how a product or service works.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Implements promotional activities in accordance with the set budget.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Manages various promotional initiatives such as direct marketing and sales promotion.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Establishes a metric system to evaluate the effectiveness of major promotional efforts.
See 4 More Skill Behaviors
3 Retail Store Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Retail Store Manager
Proficiency Level - 4
5 Competency for - Retail Store Manager
Proficiency Level - 5

12 soft skills or competencies (core competencies) for Retail Store Manager

1 Core Competencies – Financial Acumen
Proficiency Level -3
Skill definition-Obtaining financial information and applying financial understanding to foster sound judgment and correct business decisions.
Level 1 Behaviors
(General Familiarity)
Lists and explains the roles of major financial reports.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Communicates financial information and movements effectively to senior management.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Reconciles figures during budgeting period and identifies variances that require immediate action.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Oversees all aspects of our business's monetary transactions and economic value to promote financial stability.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Monitors our business's overall performance and adjusts the allocation of finances based on progress against goals.
See 4 More Skill Behaviors
2 Core Competencies – Budgeting
Proficiency Level -2
Skill definition-Applying specific policies, tools and practices to plan and prepare projected revenues, expenses, cash flows, and capital expenditures.
Level 1 Behaviors
(General Familiarity)
Explains the importance of budget reporting and forecasting in our workplace.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Supplies supporting information and justification for major line items.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Utilizes software tools and applications to forecast our annual budget accurately.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Provides in-depth training to our entire organization about the zero based budgeting methodology.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Forecasts asset needs to leverage available inventory and data compilation for annual budgeting.
See 4 More Skill Behaviors
3 Retail Store Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Retail Store Manager
Proficiency Level - 4
5 Competency for - Retail Store Manager
Proficiency Level - 5

Summary of Retail Store Manager skills and competencies

There are 9 hard skills for Retail Store Manager, Retail Industry, Merchandising, Retail Operations, etc.
4 general skills for Retail Store Manager, Compliance Management, Promotion, Sales Management, etc.
12 soft skills for Retail Store Manager, Financial Acumen, Budgeting, Planning and Organizing, etc.
While the list totals 25 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Retail Store Manager, he or she needs to be skilled in Financial Acumen, be proficient in Budgeting, and be skilled in Planning and Organizing.

It's Easy to Get Started

Get the precision you need to assess, hire, and develop top talent with skills and competencies – see how with a personalized demo.