5 Management Challenges of Home Decor Retailers
As a home decor retailer, you’ve got additional challenges. Ordering product is a little bit different than, say, book store retailers and shoe merchants. Most of your inventory is larger, bulkier, and requires more than one person to carry. But that’s just one the challenges to overcome.
If you manage or own a home decor retail store, you’ll likely recognize these five challenges. But do you know how to overcome them?
- Managing vendors – As a home decor retail merchant, you may sell for just one vendor, but chances are, you carry merchandise from multiple vendors. And there may be vendors for whom you sell only one product. If you sell on consignment, then you’ve got additional challenges. You need a solution that will help you manage each vendor efficiently and every product you carry for each of those vendors.
- Managing Inventory – Many of your products may come with SKUs, but large furniture might not. A good retail management solution will help you catalog and manage your inventory from the time you order it to the time you sell it.
- Monitoring performance – If your staff works on commission, you need a way to monitor performance so you can be sure to compensate each employee for their productivity.
- Ordering specialty items – Home decor customers often want custom furniture, art, or other items. Handling special orders can be a challenge, but you can do it seamlessly no matter how may specialty orders you have each day with the right operations management tool.
- Managing warranties – Expensive home decor items often come with warranties, and they should. You need a system that can manage warranties extended warranties, and other incidentals such as insurance. With the right operations management tool, your home decor retail business can keep track of all customer warranties.
Building solid customer relationships in the home decor business requires managing these five aspects of retail effectively. You can do it with the right tools.