Skills & Competencies for Retail Store Manager

Retail Store Manager job profile

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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%
$77,334
TOTAL 50%
$85,580
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
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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)
Explains how omnichannel retail provides consistent and convenient shopping experience for customers.
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Level 2 Behaviors
(Light Experience)
Follows the established merchandising guidelines when organizing product displays and storage.
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Level 3 Behaviors
(Moderate Experience)
Conducts regular retail audits to optimize operations, improve performance, and uphold standards.
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Level 4 Behaviors
(Extensive Experience)
Guides and mentors the staff in visual merchandising best practices to maintain consistent and high-quality displays.
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Level 5 Behaviors
(Mastery)
Develops and implements new retail business models to enhance the customer experience and foster brand loyalty.
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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)
Describes the standards and procedures for creating visually appealing product displays.
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Level 2 Behaviors
(Light Experience)
Contributes to merchandise stocking and restocking planning, following standard rules and procedures.
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Level 3 Behaviors
(Moderate Experience)
Makes necessary adjustments to product pricing and merchandising to maintain profit margins.
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Level 4 Behaviors
(Extensive Experience)
Guides and trains retail teams on merchandising techniques and visual presentation strategies.
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Level 5 Behaviors
(Mastery)
Designs and executes merchandise allocation strategies across a wide variety of retail organization types.
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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)
Discusses the role and importance of regulatory compliance in the organization.
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Level 2 Behaviors
(Light Experience)
Documents compliance issues that are high risk for the upper management.
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Level 3 Behaviors
(Moderate Experience)
Implements revenue cycle management policies to ensure compliance throughout the financial process.
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Level 4 Behaviors
(Extensive Experience)
Engages investors to ensure compliance with financial management standards and company expectations.
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Level 5 Behaviors
(Mastery)
Develops financial policies to ensure compliance with internal regulations and industry best practices.
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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)
Explains the principles of promotion and its importance to the marketing efforts.
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Level 2 Behaviors
(Light Experience)
Logs schedules for promotions in target accounts.
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Level 3 Behaviors
(Moderate Experience)
Helps senior management in developing promotional plans based on the product or service features.
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Level 4 Behaviors
(Extensive Experience)
Leads the execution of promotional initiatives in accordance with the key metrics.
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Level 5 Behaviors
(Mastery)
Develops effective and innovative strategies for project promotion.
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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)
Identifies basic approaches used to earn profits and increase profitability.
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Level 2 Behaviors
(Light Experience)
Assists in designing strategies for overcoming arising financial constraints in our business.
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Level 3 Behaviors
(Moderate Experience)
Leads in calculating overhead correctly to support developing pricing strategies.
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Level 4 Behaviors
(Extensive Experience)
Establishes a working environment that encourages and fosters fiscal responsibility.
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Level 5 Behaviors
(Mastery)
Designs data-gathering procedures to streamline the collection of financial information within our business.
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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)
Describes the procedures for capital and expense allocation and budgeting.
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Level 2 Behaviors
(Light Experience)
Gathers data from financial statements to help create budget plans and improve budgeting strategies.
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Level 3 Behaviors
(Moderate Experience)
Implements strategic operational efficiencies and techniques for conducting successful budgeting.
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Level 4 Behaviors
(Extensive Experience)
Evaluates past decisions on budgetary considerations to improve the budgeting process.
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Level 5 Behaviors
(Mastery)
Establishes operating procedures to guide the consistency and repeatability of our budgeting processes.
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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.

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