Simulation/Game Description
 Interactive Retail Management Simulation
• Help students understand the many inter-related theories
and practices of retail management through an interactive,
competitive game in which students manage their own
retail operation
• Students establish their initial strategy and then manage
their retail business – including pricing, inventory,
promotion and floor space allocation – over multiple
months
• Simulation/game is competitive – your store’s success is
influenced by your classmates’ decisions and vice versa
Retail Management Simulation
Student Decision-Making
 Product/Quality Selection
• Choose from an instructor-selected list of product/quality
options to carry in their store
 Vendor Selection
• Choose between various vendors offering different pricing
and promotional support
 Inventory Management
• Manage period-to-period inventory levels based on market
demand and prior period unit sales
Retail Management Simulation
Student Decision-Making
 Product Pricing
• Manage initial and period-to-period markups and
markdowns
 Product Promotional Support
• Determine monthly promotional support and manage
earned vendor allowances
 Floor Space Management
• Establish share of floor space for selected products and
adjust, as necessary, on period-to-period basis
Retail Management Simulation
Student Decision Steps
First, review “Pre-Market Reports”
• Determine monthly unit sales estimates and determine
pricing, promotion, and floor space strategies
Second, complete “Planning Screen”
• Complete all planning screens for each product
Third, complete “Pricing Screen”
• Set price for first and subsequent periods including
deciding on any necessary markdowns
Retail Management Simulation
Student Decision Steps
Fourth, complete “Purchase Order Screen”
• Determine how many units to purchase and over what
time period (i.e., buy one month at a time or purchase
units in advance for future periods)
Fifth, complete “Promotion Screen”
• Establish period promotion dollars including utilizing
vendor allowances
Sixth, complete “Floor Space Screen”
• Decide on percentage share of floor space for each
product
Retail Management Simulation
Review and Adjust
 Key Steps in Simulation
• Review your period market reports that include:
•
•
•
•
Income Statement
Inventory Report
Performance Report
Market Report
• Determine what you are doing right and what you are
doing wrong – then adjust as necessary for the next period
• Remember, you are competing against your classmates so
the success of your decisions are impacted by their
decisions
Retail Management Simulation
Student Resources
(available at www.theretailworkshop.com)
 Game User Guide
• Description of all simulation screens and decisions
 Game Fundamentals
• Practical concepts underlying simulation exercise
 Game Strategy
• Basic strategies for increasing simulation performance
 Game FAQs
• Answers to common student questions
Retail Management Simulation
Signup
 Simulation Process
• You will receive a link via email for our class’ simulation.
Copy and paste that link into a new browser where you will
then signup with The Retail Workshop through Gmail
(either use an existing or create an account with Google)
• Once you have registered and paid your registration fee,
you will be associated to our class’ simulation
• Within a short period of time, you will be assigned a group.
Once done, you will be able to login to your account via
the home page of The Retail Workshop. The website is:
www.theretailworkshop.com
Retail Management Simulation