Retail Management Opportunities and Career Advice
Retail culture seems treading its path quiet steadily. With various brands in each category be it apparels, footwear, home furniture, kitchen or any other segment, the retail industry has greatly pooled efforts to serve the customers with almost everything and anything under one roof. This practice of selling things associates various advantages with it and adds to the buyer’s convenience.
Retail Management Overview
Retail management by definition is the task of managing hypermarkets and supermarkets with compliance to business standard, policies and norms. Retail sector in India has depicted an upsurge over past decade which clearly reflects engorging demand for trained professionals. Various businesses and companies have made huge attempts to seek attention of the customers but couldn’t effectively fall in place but retail took the market by storm.
Retail truly works on the concept of “Customer is King”. Therefore various strategies and models were devised for the benefit of the end buyers and sharing the success story so far, retail did explicitly well, ensuring several advantages to the customers over the period of time. For ex -various discounts and end of season sale offers announced miraculously charmed the customers by supplying the products at low cost, boosting the sale and revenues. These discounts does not mean companies are incurring losses by selling things at low prices instead these are the stratagems adopted to sell their products and ensuring win-win situation.
A store or retail needs a manager and effective team of people, offering quality assistance to the customers so that they are at ease and enjoy shopping. Therefore retail managers are hired and proper training is necessary to ensure better customer handling.
Various malls and multiplexes are getting constructed. Not only Tier 1 cities but Tier 2 cities are also coming with retail culture to bring shopping ease to their towns, hence swells the demand.
Retail Management as a Career
Retail Management as a career is highly promising. Aspirants planning to chalk their path in the retail management have plenty of opportunities to choose from.
To pave a way as a retail manager one needs to get a professional degree in the discipline to get better career opportunities. Master in Business Administration is the right platform to start with. Aspiring student needs to clear the entrance exams (CAT and MAT). High scorers are preferred over the low rankers. If you wish to secure a seat in prestigious college of the country as in IIMs you need to be amid the top rankers.
Retail Management and Core Areas
Retail management basically deals with skillfully balancing various activities as in planning and devising strategies to entice the customers, bringing solutions to resolve buyer’s problems, rightly implementing solutions and much more. The role is simpler yet complicated; therefore the manager needs to be well versed with various roles and responsibilities at the same time staying abreast of the changing scenarios.
Students choosing the discipline will be studying following retail management courses
- Introduction to Retail Management and Concepts
- Retailing Trends
- Retail Market Segmentation
- Relationship Marketing and Retailing
- Role of IT in Retailing
- Retail Pricing and Merchandising
- Retail Selling Skills
- Luxury and Lifestyle Retailing
- CRM and Customer Loyalty Management
- Placement Preparatory Training
Leading Institutes offering Retail Management
- ASM’s Institute of International Business and Research, Pune
- National Institute of Retail Management, Pune
- Indian Institute of Social Welfare and Business Management, Kolkata
- Annamalai University, Kolkata
- Pearl Academy, Delhi
- Indian Institute of Packaging, Mumbai
- International Institute of Retail Management, Delhi
- School of Retail Management, Meerut
Scope of Retail Management
Burgeoning retail culture and the increasing popularity of the retail tradition amidst the Indian population clearly articulates the scope and need of the retail sector. People are happily accepting the transformation with convenient shopping, luxury ambiance and quality products that adds to their standard of living.
Retail has majorly contributed to real estate sector with various brands and business players obtaining the possession of retail spaces which further increases the demand for trained professionals.
Author Bio: –
Subhadra Bhadauria is an ardent writer with leading educational site shiksha.com. She is a regular blogger and relishes writing. With her career in reporting she gained experience in education industry and regularly shares her views on various online portals. With buzz in retail industry she highlights the scope of the industry, retail management courses in the best colleges of India.