Career Opportunities in Management (Retail Management)

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Introduction

Retail governs all markets today. It is the undisputed king of the consumers’ society. Retail management involves managing supermarkets and retail stores. The Indian Retail Industry today is one of the world’s top five retail markets with an estimated worth of US $ 500 billion. The Indian retail market is expected to touch US$ 1.3 trillion by 2020. No wonder thus that retail management careers are the cynosure of employment everywhere.

Personality traits

  • Resourcefulness: A person wishing to make a career in retail industry has to be a go-getter with excellent resourcefulness. He or she must be ready to get things done with whatever available resources in the best way possible.
  • Inter-personal skills: People with excellent inter-personal skills usually excel in retail. Candidates must have the ability to make friends easily, settle arguments, mediate and make peace in tricky situations.
  • Communication Skills: One cannot survive in this industry without excellent communication skills. You should have a command on the language, be able to write and speak clearly.
  • Selling: You should be a great salesman, even if you may not be directly involved in selling any brand or product. You must be convincing and credible in your speech and outlook.
  • Management skills: You need excellent management skills. You should be someone who knows how to best utilize resources in a given time or space.

Course/Training

Most courses in Retail Management are BBA, MBA or M.Sc degrees. There are certificate and diploma courses too. For getting admission to the IIMs and the top 25 Business Schools, you will need to take Common Aptitude Test (CAT) or CMAT. For graduation courses, you will need +2 with 55% marks in XII while for MBA/M.SC, you will need a minimum of 50% in graduation. The best thing about Retail Management courses is that, they are open to anyone from any field.

List of institutes offering Retail Management Courses

Institute Website
 K.J Somaiyya Institute of Management Studies and  Research, Mumbai  www.simsr.somaiya.edu
 Welingar Institute of Management Development and  Research, Bangalore  www.welingkar.org
 Birla Institute of Technology, Delhi  www.bimtech.ac.in
 NarseeMonji Institute of Management Studies, Mumbai  www.nmims.edu
 Indian Institute of Commerce and Trade, Lucknow  www.iictindia.com
 Indian Retail School, New Delhi  www.indianretailschool.com 
 Indian Institute of Commerce and Trade, Lucknow  www.iictindia.com
 Centre for Retail, Footwear Design & Development  Institute, Noida, Chennai,  Rohtak, Jodhpur, Guna,  etc.  www.fddiindia.in

List of Institutes abroad offering Retail Management related courses

Institute Website

Heriot watt University Dubai

www.hw.ac.uk/dubai.htm

IMT Dubai Campus www.imtdubai.ac.ae
Manipal Education Dubai Campus www.manipaldubai.com
Amity Dubai Campus www.amityuniversity.ae
S. P. Jain Dubai Campus www.spjain.org

 Career Opportunities

Retail companies usually give out positions like floor managers, floor executives, lobby managers etc. On a higher level, qualified candidates become sales or marketing managers. Some common retail careers are:

  • Customer Sales Associate: This is the most basic position in retail jobs. You are responsible for helping customers in retail stores and ensure that they buy the best suitable products.
  • Store Managers: They are responsible for managing stores and their functioning. They supervise store employees, management and general administration of the stores.
  • Retail Buyers and Merchandisers: These are the people who buy and select goods on behalf of the retail shop owners. They have to know the needs of the customers, the latest trends, prices etc of the market.
  • Visual Merchandisers: This is a niche category in retail where ideal candidates are very good technical designers or product developers or store planners. They are responsible for the entire look of various brands. They make the brands look attractive. 
  • Retail Operation Manager: Just like many other management jobs, managing the day-to-day operations is another major position in this industry. Such a manager handles stock, supply, retail orders, merchandize etc.

Apart from these, there are many other big and small positions such as sales executives, brand managers, logistics and warehouse managers, back-end operations manager etc.

Remuneration

The pay packets in the retail industry vary a lot. From executives to managers, the payscales are anywhere between Rs. 10,000 and Rs. 35,000. 

Career Opportunities in Management (Retail Management)
Career Opportunities in Management (Retail Management) - By : | Date Published : 30-05-2016 | Category : Career Options |
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Introduction