Retail Store Management
Business Simulation
Retail Store Management Business Simulation is a highly versatile simulation that can be used for different target groups in the retail environment. The simulation puts participants in charge of a store or a franchise with multiple stores in a seasonal environment.
Book a demo:
Convenience Store
Fashion Retail
Focus
Retail industry, store management, retail marketing, consumer behaviour.
Used in
Various marketing courses, retail management courses, franchise operations courses.
Case scenario
The default case is based on running a single convenience store or a multi-store franchise in different demographic areas. Each simulation round corresponds to one quarter of a year and seasonality is an important decision-making factor.
Participant tasks
In competition with other teams, participants manage procurement and inventory, pricing, advertising, and promotion campaigns across different product categories. In addition, the simulation includes modules for operational and strategic decisions such as store layout, operating hours, staffing, loyalty programs, store remodelling, new store locations, and cash flow management.
Key learning areas
During the rounds participants experience how consumer preferences and competitor actions influence pricing and profitability, interlinks between procurement, inventory levels, and cash flow management, utilization of permanent and temporary staff in seasonal variations, store layout and store remodelling impact to sales, and capital appraisal for new store locations.
Key success factors
The essence of the Retail Store Management Business Simulation is to mirror the operations of a typical retail store or franchise, tie together multiple business concepts and allow for a successful execution of alternative strategies. The simulation is designed to reward those who can best identify underlying trends, analyse competition, and successfully formulate a winning strategy. Success of the teams is presented with multiple industry-specific indicators, customer reports, operational reports, and financial reports.
Expected outcome
Participants develop capabilities in formulating, implementing, and adapting business strategies and decisions in a competitive environment. In addition, they will enhance their fact-based decision-making skills and improve their financial knowledge through linking operational decisions to cash flows and bottom-line performance. The simulation exercise also gives practical experiences in teamwork and problem solving and excites competitive spirits in a dynamically evolving marketplace.
Adaptability
The simulation offers powerful user-level customizability and modularity options that allow it to be adjusted for different target groups and experience levels. In addition, the system permits the instructors to create and modify their own cases with personalized market outlooks and storyline.
Available languages
English, French, Simplified Chinese, Finnish.
