The fast-paced retail industry offers young professionals career progression and massive opportunities. Shutterstock
The fast-moving retail industry connects different points of the vast supply chain network across India. The scale of this industry has generated massive opportunities for Retail Management students in different areas like operations management, retail buying, merchandising and marketing. Working in this sector can be very rewarding and is likely to boost your growth on both personal and professional fronts.
What is Retail Management
Retail Management entails how retail outlets are maintained and how commodities are delivered to customers from these retail stores. It includes not only the management of retail outlets but also brand management, customer relationships, sales management and tracing of orders at the retail outlet. Apart from these, retail professionals manage the merchandise, directly interact with customers, and supervise the stock.
Studying Retail Management
Some leading Institutes that offer Retail Management courses:
Indian Institute of Social Welfare and Business Management (IISWBM), Kolkata
Course offered: PG Diploma in Retail Management.
Jaipuria Institute of Management, Lucknow
Course offered: PGDM in Retail Management.
ITM Business School, Mumbai
Course offered: PG Diploma in Retail Management and Marketing.
Amity University- Amity Global Business School, Noida
Course offered: BBA in Retail Management.
Course offered: MBA in Retail Management.
GITAM Institute of Management, Andhra Pradesh
Course offered: PG Diploma in Retail Management.
Sardar Vallabhbhai Patel Institute of Textile Management, Coimbatore
Course offered: MBA in Retail Management.
Birla Institute of Management Technology (BIMTECH), Greater Noida
Course offered: PG Diploma in Retail Management.
K J Somaiya Institute of Management, Mumbai
Course offered: MBA in Retail Management.
Course offered: MBA Minor in Retail Management.
Job roles after studying Retail Management
Retail executive: They are in charge of making major decisions for a store and its chains. They also run a variety of businesses such as those that sell electronics, clothing or automobiles. These professionals look after employee management and marketing teams under retail outlets.
Administrative officer: They handle administrative communication and prepare annual reports and budgets. They are also in charge of the systematic filing of documents, keeping track of the inventory and ensuring that it is stocked.
Advertising manager: They are responsible for overseeing the advertising department's operations. To meet the goals and budgets on time, they must coordinate with staff, clients and ad agencies.
Sales manager: A sales manager manages the sale of a company's product or service by developing sales, revenue and expense channels. They ensure that the company meets the required sales volume.
Operations manager: They serve as organisational leaders and have the authority to develop the organisation's policies, plans, and strategies. They are also mainly responsible for processes that deliver retail services to the customer — this involves managing staff and resources efficiently.
Purchase/Category manager: They are responsible for the range to be stocked by the retailer and have to work with others across the functions to ensure that the right goods are in store at the right time. They also work closely with marketing managers on pricing, promotion and merchandising.