NRF Business of Retail - Operations and Profit

Hours: 11 / Access Length: 12 Months / Delivery: Online, Self-Paced

Course Overview:

In Business of Retail students will learn skills like understanding store operations, mastering retail business math concepts, and merchandising and marketing.

This course prepares a student to take the National Retail Foundation Business of Retail - Operations and Profit national certification exam.

Course Outline:

Lesson 1: Welcome to the Business of Retail

• Welcome to Retail
• Retail Operations Overview
• The Retail Ecosystem
• Distribution Channels and Retail Ownership
• The Economic Impact of Retail
• Team, Inventory, and Marketing
• Technology, Tools, and Financials
• Competitors

Lesson 2: Retail Operations

• Inventory Management
• Supply and Demand
• The Store Inventory Life Cycle
• Conducting Physical Inventory
• Loss Prevention
• External Theft: Shoplifting, Customer Fraud, and Ecommerce Fraud
• Internal Theft: Employee Theft and Employee Fraud
• Operational Errors and Vendor Fraud
• Workplace Safety
• Workplace Safety Policies and Processes
• Common Safety Problems
• Handling Workplace Accidents and Emergencies Situations

Lesson 3: Marketing and Merchandising

• Marketing
• Brand Marketing
• Marketing Plan Components
• Marketing Approaches and Technologies
• Merchandising
• Organizing and Maintaining Product Storage
• Inventory Management Systems
• Visual Merchandising

Lesson 4: The Retail Profit Model

• Calculating Profit
• Financial Results
• Financial Terms
• Gross Profits and Profit Margin Percentages
• Understanding the Impact
• Costs Associated with Retailing
• Determining Product Pricing
• Pricing Strategies

Lesson 5: Building Your Career

• Finding the Ideal Retail Job for You
• Exploring Retail Jobs: Crafting an Ideal Resume and Elevator Pitch
• Searching for Jobs Online
• Building and Maintaining Your Network
• Getting Your Ideal Job
• Applying for a Job
• The Interview Process
• Reviewing a Job Offer
• Growing Your Skills
• Receiving and Applying Feedback
• Acquiring New Skills
• Key Performance Indicators (KPIs)
• Planning and Following a Career Path
• Personal Career Planning
• Achieving Career Goals
• Effectively Managing Others

Certification(s):

This course prepares a student to take the National Retail Foundation Business of Retail - Operations and Profit national certification exam.

System Requirements:

Internet Connectivity Requirements:

• Cable, Fiber, DSL, or LEO Satellite (i.e. Starlink) internet with speeds of at least 10mb/sec download and 5mb/sec upload are recommended for the best experience.

NOTE: While cellular hotspots may allow access to our courses, users may experience connectivity issues by trying to access our learning management system.  This is due to the potential high download and upload latency of cellular connections.   Therefore, it is not recommended that students use a cellular hotspot as their primary way of accessing their courses.

Hardware Requirements:

• CPU: 1 GHz or higher
• RAM: 4 GB or higher
• Resolution: 1280 x 720 or higher.  1920x1080 resolution is recommended for the best experience.
• Speakers / Headphones
• Microphone for Webinar or Live Online sessions.

Operating System Requirements:

• Windows 7 or higher.
• Mac OSX 10 or higher.
• Latest Chrome OS
• Latest Linux Distributions
  

NOTE: While we understand that our courses can be viewed on Android and iPhone devices, we do not recommend the use of these devices for our courses. The size of these devices do not provide a good learning environment for students taking online or live online based courses.

Web Browser Requirements:

• Latest Google Chrome is recommended for the best experience.
• Latest Mozilla FireFox
• Latest Microsoft Edge
• Latest Apple Safari

Basic Software Requirements (These are recommendations of software to use):

• Office suite software (Microsoft Office, OpenOffice, or LibreOffice)
• PDF reader program (Adobe Reader, FoxIt)
• Courses may require other software that is described in the above course outline.