The Six Pillars: Modern Retailers Go Back to the Basics

Author

Times are changing fast, but modern retailers know that when it comes to in-store execution, sometimes the basics really are better. 

Good retail operations are never accidental. In order to compete, you need to not only come up with great ideas but be able to execute them on a store-by-store basis. While this has always come with challenges, a smart retail strategist will be sure to have a few tricks up their sleeve for overcoming them. 

(Re)enter the six pillars – a tried-and-tested framework for in-store operational performance enhancement that has been guiding retailers to success for decades. Now, with advanced tools at their disposal, see how modern retailers are adapting the six-pillar framework to the current retail climate. Also, have a quick look at how retail execution management software can be leveraged to take these core principles even further. 

What is modern retail without the basics?

Artificial intelligence. Augmented reality. Digital ecosystems. All of these are much more than buzzwords in modern retail, with each advancement bringing marked changes to how retailers do business and pursue customer engagement and satisfaction. 

What hasn’t changed, though? The need for basic best practices around in-store execution. The six pillars of retail execution (Promote the Promotions, Store Appearance, Merchandising and Recovery, Empower Store Teams, In Stock/Out of Stock, and Streamline Execution) are well-established in the industry. And they’re a good example of why it’s not always necessary to reinvent the wheel.

Modern retail merchandising and performance is built on these six pillars. Consider stock availability, which requires ongoing optimization in order to maximize value and avoid the costly pitfalls of excess inventory. Modern retailers have plenty of tools available to them to consolidate in-store merchandising tasks, manage their on-the-ground workforce, and visualize stock. But at its heart, optimizing stock availability comes down to pillars like In Stock/Out of Stock and Merchandising and Recovery, which provide actionable frameworks from which to execute a successful merchandising strategy. 

By following the six pillars, retailers put their best ideas into practice while enhancing revenue potential and keeping costs in check. It’s a good reminder for all of us that basic doesn’t have to mean outdated and that the formula for in-store excellence hasn’t changed, even if our ideas and strategies have. 

How retail execution management software delivers on the six pillars

Whatever the objective – better customer experiences, more consistent store standards, collective collaboration among employees, etc. – the six pillars can be used to execute it. Basics or not, though, modern retailers do have a few new tools in their arsenal, including retail execution management software rooted in the structure and theories of the six pillars. 

Here’s how the right software can help. 

Task management – Task ambiguity and complexity can easily get in the way of operational performance enhancements. Centralizing task management through a designated retail execution software platform like ReStore for Retail helps eliminate miscommunications, all while simplifying the reporting process, consolidating tasks, and streamlining follow-ups. 

Visual merchandising – The more stores you’re running, the trickier it is to ensure that visual merchandising standards are being met. Targeted software solves this problem by giving you an eye on the ground regardless of where you’re located. In particular, these platforms provide photos and videos so you can monitor visuals in real-time, as well as a two-way communication channel for instant feedback and course corrections. 

Frontline worker empowerment – Retail execution management software can help resolve problems related to high employee turnover and reduced staffing budgets. It does this by empowering frontline workers to engage with execution from multiple fronts – for example, enabling workers to quickly communicate inefficiencies, identify solutions, and implement changes based on what they observe in the store. 

With these and other platform features, execution management software helps modern retailers put the six pillars into practice without disrupting the routine flow of operations. It’s a contemporary take on the basics and a worthy investment for any retailer who is struggling to connect the dots between strategy and in-store execution. 

Turn good ideas into outstanding results with Restore for Retail

From the engagement of your staff to the financial health of your business, there are an excess of reasons to prioritize the six pillars of in-store operational performance enhancement. Thanks to innovative retail software from ReStore for Retail, it’s never been easier to do so. 

If you’re ready to enhance in-store performance with the help of modern technology, sign up for a demo of ReStore for Retail and see firsthand how our platform can bring the six pillars to life for your business. 

ReStore for Retail enables people in retail to get back to the business of retailing