December is the month when retailers are focused on driving those end of the year sales. We push as much merchandise as possible out of the stockrooms to fill the floors. Empty salesfloor spaces should be “no-no’s” during this time of the year. We re-merchandise our fixtures to get gift ideas in front of our customers. We also take steps to increase impulse buys by filling check lanes with snacks, batteries, magazines, gift cards, etc. Managers should also be looking at last year sales information to plan schedules around peak times of the day in order to avoid long lines at the registers. While all of this is important it is just as important to start planning for your end of the year wrap up.
Much of December into January is the same as the rest of the year but there are some differences that need to be considered. It is the end of the year and that means you will have to consider inventory will be coming up in the next few months (depending on when you take inventory of course). Even if you take your inventory later in the year you should still be thinking about it and starting to prepare now. As your team is pushing merchandise out of the stockroom it should be emptying out. It is the perfect time to look for merchandise that has fallen from hangers or dropped into a nook or cranny that is usually hard to see. Scouring the building for merchandise that has been hidden away is another step to be taken. Sometimes customers will hide merchandise intending to come back for it later or employees may do so to avoid re-stocking it. Merchandise may also be under base decks or fall behind registers and regardless of how it gets there, it will result in shortage if not accounted for at inventory time.
You may have hired seasonal employees for the holidays. You will need to start making decisions on who you will release and who you may decide to keep on your staff. If you have other managers working for you seek their input. It is not uncommon for us to have a skewed view of what an employee’s work and productivity may be. You may see someone occasionally and think they are performing well. You then speak with their immediate supervisor and find out this employee is really a problem to their work center. Decisions must be made as to when cuts will be made and offers of permanent employment provided. Whether you like the employee or not it is only fair to give them time to start looking for other work or have the knowledge they won’t need to do so.
Review any vendor supplied items your store may carry. Are vendors maintaining their products and filling their allocated space? Conduct spot audits of vendor merchandise and make sure if there are products soon to expire they are on the front of the shelf. Be diligent that you are receiving the appropriate credits for merchandise the vendor is removing from your store. You or a delegated manager should look at vendor credits to be sure they are being given to you in a timely manner now and through the entire year.
The end of the year is also the time to look at building maintenance issues. Parking lot lighting, exterior lights, fire, and burglary alarm tests should have all been done at the start of the 4th quarter. Now is the time to look for facility problems, are restroom sinks and toilets operating correctly? Are there any roof leaks that have not been previously reported? Are fitting room doors opening, closing and locking? Some repairs may be a landlord’s responsibility to cover, be sure those are reported and taken care of.
Finally, as you wrap up your year take time to celebrate your wins with your team and also take a look at opportunities for improvement. Make it a group effort and give everyone a chance to comment on what they thought went well and what could have gone better. Getting everyone’s insight can be enlightening and provide ideas for making the coming year even better than this year and that is how businesses stay successful.
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