Retail Industry Consultants Key Terms

Learn key terms that will help you work with retail industry consultants

By Rachel Davy, Writer/Editor

Many retail business owners need help to plan and improve their businesses. Often they have great ideas, but are uncertain or unfamiliar with how to implement them profitably. Retail consultants offers strategies and solutions that can help make the difference between success and failure in today's busy marketplace. Before hiring a retail industry consultant, take the time to understand the key terms used to describe what they can do to help your business.

Cash flow

Cash flow is the amount of money received and paid out by a business enterprise. Retail industry consultants help increase cash flow and profitability by analyzing how a retail business is run, then developing strategies to increase profits and make the business more successful.
Try: Learn how Hurlbut & Associates Retail Consultants can help retail businesses improve cash flow and profitability.

Recruiting and hiring practices

Finding the best people for a job is a skill many business owners lack. Retail industry consultants develop recruiting and hiring practices that fit the needs of the retail industry to ensure the hiring of professional and efficient company representatives.
Try: Read the information at The Friedman Group to learn how to develop hiring and recruiting solutions.

Space management

Space management is the way in which retailers place certain products in specific areas of their sales floor to increase visibility and sales. A retail industry consultant accesses a retail business floor plan and offers effective space-management solutions.
Try: Gather information about space-management solutions and strategies from JDA.

Merchandising

Merchandising includes advertising, product branding and promotions that create interest in a retail business, product or service. Retail consultants help business owners with merchandising by offering them solutions, including newspaper advertisements, store promotions and television and radio commercials.
Try: Learn how SD Retail Consulting creates merchandising solutions for retail businesses.

Lease negotiation

Since many business owners rent retail space, retail industry consultants offer lease negotiating services to help them get good spots in shopping malls and other retail venues. Many retail consultants specialize in lease negotiation and offer leasing programs and tenant solutions that meet the needs of their clients.
Try: Utilize information from Stonecreek to learn about lease negotiation services for retail businesses.

Inventory management

Inventory management is when business owners know how much inventory they have, when to order more and how to stock inventory that sells. Retail industry consultants can access a business's ability to manage its inventory and offer solutions to help increase productivity and sales.
Try: Read about the inventory management solutions offered by Atlanta Retail Consulting.