How to Become a Retail Sales Analyst

Member

By mhougland
User-Submitted Article

Article Rating: (1 Ratings)

Retail sales analysts work for all sorts of companies who are in the business of selling their products to national accounts like Wal-Mart, K-Mart, Home Depot, Lowe's, Safeway, Kroger and other large chains. The companies who service these national accounts are often referred to as "suppliers." They range from corporations with major brands such as Kimberly-Clark, Sara Lee and 3M to much smaller companies with newer products, or smaller portfolios. Follow my guidelines to get your foot in the door with a supplier and become an effective retail analyst in this exciting and potentially lucrative field.

Difficulty: Moderately Challenging

Instructions

Things You'll Need:

Your resume
College transcripts
List of continuing education credits
Letters of reference

Research

Step 1

Make a list of potential employers. Keep in mind that you may have to relocate. Some companies handle major accounts like Wal-Mart and K-Mart from satellite offices located near the account's headquarters. For example, many Wal-Mart suppliers are located in Bentonville, Arkansas.
Step 2

Check Yahoo! Finance or Hoovers to get a company profile, stock quotes, information on major stockholders, and competitor data on each company you are interested in.
Step 3

Study company websites. Some offer annual reports for download. These typically explain upcoming challenges, new directives, potential acquisitions and other information.
Step 4

Using a spreadsheet program, such as Microsoft Excel, build a list of the companies you're interested in, including addresses, email and website information.

Know the Accounts

Step 1

You'll need to arm yourself with knowledge about some of the possible accounts you might work on. If you plan to focus on big accounts like Wal-Mart or Target, it should be easy to find information. However, if you plan to work on smaller accounts--like the mom and pops--it might be more difficult to gather data.
Step 2

Use the Internet, your public library and the website resources you used to research potential employers--Yahoo! Finance and Hoovers--to familiarize yourself with the business models of various retailers.

Evaluating Credentials

Step 1

In order to analyze retail data, make suggestions for increased sales, evaluate the effectiveness of product promotions and understand business forecasting, you'll need some specialized training. First, gather up all background experience you feel might be related to this field.
Step 2

Then, consider taking a specialized training course. For example, Northwest Arkansas Community College in Bentonville, Arkansas offers a Market Analyst Certification program for individuals interested in becoming retail sales analysts working for suppliers on the the Wal-Mart account.
Step 3

Most likely, a Bachelor's in Business will land you a good spot with a supplier. However, if you find yourself in a region where retail sales analysts are available in abundance (like in Wal-Mart territory), you might want to consider obtaining your MBA to set yourself apart.
Step 4

Put your experience, education and specialized training together in the form of a stellar resume.

Presentation

Step 1

Submit your resume via the websites of suppliers you're interested in.
Step 2

Register with a couple of recruiters (head hunters) who specialize in placing retail sales analysts.
Step 3

Place your resume on at least two online job boards--such as CareerBuilder and/or Monster.

Set Yourself up for Success

Step 1

If at all possible, find yourself a good mentor.
Step 2

Stay current with trends in the field by attending conferences, workshops and other training opportunities.