I've worked in retail for a good portion of my life. If asked, what was the one thing that I would say was the "take away" from those years in retail......I would say it was being able to not only deal with change, but to welcome it. My father would often say "Change is good, it keeps you sharp". Now that I am older I would have to enthusiastically agree. It does make you sharp. Change forces you to focus on the "now", make decisions and flex your mental muscles. Today, changes in competition, and rising fuel prices are testing the abilities of all retailers. Rapid increases in oil prices are forcing retail prices to change almost daily. In this environment price changes bring a whole host of complex issues to consider. Price changes have an affect on your profits, your price image and your customers shopping habits.

As a retailer you set your retail prices based on your replacement cost. Normally, the process of price maintenance is not hard to keep up with. However we are not in a time of normality, things are changing rapidly. Your profit is at stake. Price changes need to be made active as soon as possible. Review your process for implementing price changes; it could make all the difference. Protect that profit!

Competition in retail is a constant, but turbulent conditions vary. So pay particular attention to your price image. It must be given greater attention during times of change. Price changes should be made on image items only when you have two things, your replacement cost and the price that your competition has set. Price shopping your competition is a great way to keep your price change strategy in check.

With money tight right now, your customers have starterd to change their purchasing habits. Shoppers will try to plan their trips, and group their errands to save gas. This will lead to fewer return trips to your store each week or each month. Your store will have fewer chances to influence their purchases. Efforts must me made to highlight products, whether on end caps, sampling products, or improving store signage. Look at possible layout changes to expose customers to more products.

Often the best way to deal with change is to step back and ask yourself, what is causing this change and what will it affect. Dealing with and overcoming these changes will challenge your abilities, and that is good! Welcome those challenges, because they will make you razor sharp.

From time to time we all look back on our careers and do an assessment. Today as I look back, I have to admit, I've been very fortunate. I say this because of the people who have helped me to grow and to be who I am today. I reflect on the retail store managers that taught me so much while I worked my way through high school, college and beyond. At that time these men and women were at the top of their game and many of them still are. The things that I learned were not pre-planned lessons, but rather a form of on the job training. It was their knowledge, personality and experience that they shared with me that taught me so much.

Last month, while on a retail consulting project, I was reminded of how important it is for every company to have solid management. On this particular project the general manager of the store never left his office except to go to lunch or leave for the day. During an interview he was demeaning and very critical of his staff. As a result, this store had major motivational issues. Now, I am not suggesting that every retail store manager must be a world-class motivational icon. However, I do believe that in order to be qualified to be in retail management, or any other form of management, you should possess some of the best qualities of a ships captain, coach and sometimes a parent.

While in college I worked part-time for a large retail lumberyard chain. That stores general manager was a man named Larry. Larry was passionate about his store, his employees and customer service. Larry was among the top 10 highest producing store managers in the entire operation. Impressive on it's own, but what impressed me the most, and what was most likely the reason for much of his success, was Larry's management style. Larry did spend time in the office, but he roamed the store constantly. He had all the qualities of a championship coach. He would look out over the "retail field" and make note of what was not being executed properly. He wasn't the type to rake anyone over the coals. If he saw that our service counter was buried knee deep in customers, he would jump in and help out. Afterward he would help us realize that it wasn't about us....it was about the customer and their perceived wait time. In the best of ways a little situation like this was used to teach me to be proactive and keep the customer front and center. Larry made sure we all saw the people in our store as "our customers" and their shopping experience was paramount. He taught us the importance of good customer service. After all, happy customers come back. Through teaching and managing by example, Larry taught us all that the relationship between our coworkers and our customers was imperative to our success. Larry managed by example. His employees would follow him anywhere because of his demonstrated work ethic and respect for the people who worked for him.

I find the lack of a solid management quite often. Will it be lost forever? No, I don't think so. But I do strongly believe that retail store managers and owners alike need to review their management styles. In times of great change, your employees are looking to you for stability and strength. Teach them that good enough is not good enough, and show them how to become better employees and most of all better people. Be that example that they will remember.