Define the core concepts of the wholesale and retail environmen

Define the core concepts of the wholesale and retail environment

This unit standard is intended for new entrants into the wholesale and retail sector. Persons credited with this unit standard will be able to describe the different market segments, customer profiles and buying habits applicable to the industry.

Employees will also be able to identify the target market of the organization they work for, ensuring that their efforts align with the needs and preferences of their primary audience. By understanding customer behavior and market demands, they can contribute to better customer engagement, improved service delivery, and overall business success. Additionally, they will be able to recognize the different functional departments within an outlet and understand their main roles in managing stock, handling cash flow, and ensuring smooth business operations. This knowledge will help them optimize workflow efficiency and enhance overall productivity.

Furthermore, employees will develop a strong understanding of the business environment in which they operate. This includes being aware of relevant legislation that governs the industry, ensuring compliance with legal requirements that impact daily operations. They will also be knowledgeable about key challenges such as shrinkage, theft, and losses, enabling them to implement proactive measures to reduce risks and safeguard the organization’s assets. By acquiring these essential skills, employees will be better equipped to support the company’s goals, improve operational efficiency, and contribute to a more secure and profitable business environment.

Course Content

  • Different sub-sectors and categories within the wholesale/retail industry are identified as they appear in the whole/retail sector, medium and micro-enterprises
  • Categories and sub-sectors within wholesale/retail are matched to given wholesale and retail stores as they appear in the wholesale/retail sector
  • Stakeholders are identified as applicable to the organisation
  • Types of consumer profiles are described according to the wholesale/retail sector
  • Consumer shopping patterns are described according to the wholesale/retail sector
  • The Store’s target market is described according to the organisation’s market segment
  • The procedures for marketing the store to its target market is described according to the organisation’s marketing strategy
 
  • The various operational functional departments in a wholesale/retail store are identified along with their main purpose
  • Stock flow through the store is explained as it applies to the business
  • The flow of cash through the store is explained as it applies to the business
  • The support functions necessary for the operation of a wholesale or retail outlet are explained as it applies to the sector
  • The impact of the job on others in the organisation is explained in terms of systems and subsystems
  • The various forms of legislation that impact on the industry are identified in terms of their titles
  • The objectives of the different pieces of legislation are explained as it applies to each piece of legislation
  • General wholesale and retail terms are used in context as they apply to the industry
  • The concept of shrinkage and losses is understood and explained
  • Methods of shrinkage and losses are identified
  • Reasons for preventative policies and procedures are described
  • The impact of shrinkage and losses on the organisation is explained
  • Non-accredited: Short course only  
  • Duration: 1h 30m
  • Delivery: Classroom/Online/Blended
  • Access Period: 12 Months 
SpecCon Short Course
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