NEW! ‘In-class’ Retail Merchandising Certificate offered at St George Campus, Toronto.
Requirements: Two (2) courses
SCS 2119 Tools & Fundamentals of Retail Merchandising – Registration begins September 2015
SCS 2117 Creating Consumer-Oriented Merchandising Programs – Course starts: Jan 2016
Ideal certificate for people employed in retail (or who work with a retailer), including: Merchandising, Category Management, Product Management, Buying as well as for Manufacturers working with a major Retailer (Consumer Packaged Goods company’s (CPG’s), especially Key Account Managers. Also geared for Retailer general interest groups such as Marketing, Human Resources, Administration, Accounting, etc.
Location: St George Campus
This is a strategic, certificate program designed for individuals currently employed, or interested in retail sector or deal with a retailer. The certificate examines the fundamentals of Retail Merchandising (see Learner Outcomes below) as a set of business activities that add value to the products and services sold to consumers. Students will explore challenges in the retail industry, specifically concentrating on the Canadian market place and its intense competitive state.
Retail is the keystone of the Canadian economy representing a $450+ billion industry and in 2014, the largest employment sector in Canada. Today, retailers are striving to provide a seamless shopping experience by engaging customers through muti-channel options, including the selling of merchandise and services to customers through the Internet. The abundance of retailers, both from U.S. and globally, is heating up the competition and Canadian retailers are seeing profit erosion while consumers are benefiting from ‘price wars’.
With razor thin margins, retailers are employing Customer Relationship Management (CRM) initiatives and effective services and products to maintain loyal customers. These and related issues, will be explored to address the complex challenges facing Canadian retailer landscape as they compete for market share or ‘share of wallet’.
- Identify the challenges of the increasingly competitive state of Canadian retail industry and how it relates to the Canadian economy
- Describe how retail fits into the marketing mix; create shelf layouts/planagrams that drive impulse purchases
- Comprehend emerging trends yet be acutely aware of local/’glocal’ markets – learn how to read Canadian Demographic Data (2011 Census)
- Identify trends in consumer behaviour and review consumer segmentation analysis
- Review how Customer Relationship Management is a the heart of customer retention and how databases and data mining assists retailers make relevant decisions
- Comprehend the concept of retail Corporate Social Responsibility (CSR) and how CSR initiatives impact the welfare of customers, supplier and employees
- Comprehend retail location analysis/ metrics and its importance to the retailer
- Understand how to read AC Nielson data and segment product categories to find opportunities
- Understand Brand Management in relation to driving brand equity and the importance in Private Label
- Understand Category Management as it pertains to dealing with suppliers and negotiating
- Comprehend the need for retailers to commit to sustainable business growth and recognize ethical and environmental issues