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%
$77,533
TOTAL 50%
$85,801
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)
Lists diverse activities and functions of retailing including buying, advertising, and data processing.
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Level 2 Behaviors
(Light Experience)
Records and reports customer feedback to assist in optimizing retail offerings and improving service quality.
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Level 3 Behaviors
(Moderate Experience)
Utilizes advanced software and technology to automate and optimize retail operations.
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Level 4 Behaviors
(Extensive Experience)
Oversees inventory control and supply chain processes to ensure optimal stock levels and minimize costs.
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Level 5 Behaviors
(Mastery)
Leads omnichannel optimization initiatives to ensure a seamless and integrated customer journey.
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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)
Explains how effective merchandising can increase sales, generate revenue, and improve brand awareness.
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Level 2 Behaviors
(Light Experience)
Helps in arranging merchandise displays adhering to a planogram and precise brand guidelines.
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Level 3 Behaviors
(Moderate Experience)
Utilizes analytics and sales data to optimize and improve online and offline merchandising performance.
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Level 4 Behaviors
(Extensive Experience)
Monitors and controls inventory levels to estimate purchase reorders of merchandise accurately.
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Level 5 Behaviors
(Mastery)
Establishes and implements SOPs to optimize organizational merchandising operations.
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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)
Identifies and describes regulatory compliance, risk management, and controls.
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Level 2 Behaviors
(Light Experience)
Supports the execution of compliance programs for the efficiency of control frameworks.
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Level 3 Behaviors
(Moderate Experience)
Works with management to develop corrective actions for complex compliance problems.
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Level 4 Behaviors
(Extensive Experience)
Recommends execution of internal controls to ensure compliance with risk management policies.
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Level 5 Behaviors
(Mastery)
Leads the creation and execution of a risk assessment plan to address and mitigate potential compliance risks.
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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)
Names different kinds of promotional marketing materials.
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Level 2 Behaviors
(Light Experience)
Tracks and reports the results of promotional activities.
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Level 3 Behaviors
(Moderate Experience)
Uses interactive materials such as videos, charts, or slideshows to show product features to clients.
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Level 4 Behaviors
(Extensive Experience)
Oversees a targeted promotion initiative to an identified set of customers.
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Level 5 Behaviors
(Mastery)
Leads the development and launching of multiple marketing promotions.
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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)
Lists obstacles and challenges in managing financial transactions of an organization.
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Level 2 Behaviors
(Light Experience)
Communicates financial information and movements effectively to senior management.
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Level 3 Behaviors
(Moderate Experience)
Reconciles figures during budgeting period and identifies variances that require immediate action.
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Level 4 Behaviors
(Extensive Experience)
Oversees all aspects of our business's monetary transactions and economic value to promote financial stability.
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Level 5 Behaviors
(Mastery)
Sets organizational priorities by aligning finances with strategic business goals and objectives.
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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)
Explains the different purposes and uses of our organization's budgets.
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Level 2 Behaviors
(Light Experience)
Produces budget reports showing planned vs. actual variances highlighted and explained.
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Level 3 Behaviors
(Moderate Experience)
Reviews and helps approve major budget adjustments to negotiate and reconcile line variances.
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Level 4 Behaviors
(Extensive Experience)
Monitors budgeting processes to ensure adherence to our organization's financial practices and standards.
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Level 5 Behaviors
(Mastery)
Forecasts asset needs to leverage available inventory and data compilation for annual budgeting.
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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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