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)
Cites corporate regulatory compliance risk management policies and procedures.
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Level 2 Behaviors
(Light Experience)
Applies basic compliance management principles to evaluate potential compliance risks.
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Level 3 Behaviors
(Moderate Experience)
Coordinates any potential compliance issues and changes in compliance regulations to avoid compliance risk.
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Level 4 Behaviors
(Extensive Experience)
Collaborates with business management to help the organization meet risk objectives.
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Level 5 Behaviors
(Mastery)
Champions the adoption of advanced compliance management systems to manage activities and processes.
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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)
Cites different types of promotional marketing.
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Level 2 Behaviors
(Light Experience)
Compiles analytics of promotional activities to assist in evaluating the effectiveness of campaigns.
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Level 3 Behaviors
(Moderate Experience)
Analyzes reports on promotional activities to assess the effectiveness of initiatives.
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Level 4 Behaviors
(Extensive Experience)
Discusses budgets and contracts, marketing plans, and the selection of advertising media.
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Level 5 Behaviors
(Mastery)
Approves design concepts and marketing strategies for key promotional efforts.
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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)
Describes key financial literacy concepts and principles.
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Level 2 Behaviors
(Light Experience)
Analyzes data and interprets key financial indicators to help decision-making processes.
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Level 3 Behaviors
(Moderate Experience)
Handles challenges and unexpected budgetary issues and adheres to corporate policies.
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Level 4 Behaviors
(Extensive Experience)
Consults on the methods and techniques in managing credit and debt.
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Level 5 Behaviors
(Mastery)
Builds systems and tools critical for measuring financial accountability in 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)
Compiles a list of basic issues and risks for conducting our budget processes.
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Level 2 Behaviors
(Light Experience)
Assists in developing and improving budgeting models, plans, and strategies.
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Level 3 Behaviors
(Moderate Experience)
Compares planned budgets vs. actual expenditures, identifies, reports, and explains variances.
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Level 4 Behaviors
(Extensive Experience)
Anticipates organizational income and expenses to make forecasts and develop budget plans.
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Level 5 Behaviors
(Mastery)
Adapts relevant industry trends on techniques in financial budgeting in our organization.
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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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