Retail Management is a process of promoting greater sales and customer satisfaction by gaining a better understanding of the consumer of goods and services produced by the company.
Retail management includes all the steps required to bring the customers into the store and fulfill their buying needs.
Scope of Retail Management:
Retail Industry is one of the fastest changing and the vibrant industries in the world. Retailing is a process that involves a direct interface with the customer and the coordination of business activities from the design stage of a product to its delivery and post-delivery service.
Retail Market of India is the most attractive and emerging market in the world. Indian Retail Market is one of the top three most attractive ones worldwide. Growth rate of Indian retail industry for last three years is 46.64%, and the retail sector in India has emerged as the largest employer after agriculture.
Retail Management courses available in India:
- MBA in Retail Management
- Bachelor of Fashion Retail Management
- Diploma in Retail Management
- PG Diploma in Retail Management
- PG Diploma in Fashion Retail Management
Career opportunities in Retail Management:
MBA in Retail is having lot of job opportunities in India and abroad, provided the candidate has the right attitude and skills for service industry. With growing consumerism in India, the companies with greater retail strategies, culture, customer satisfaction and experience will bite the larger share of the market.
Across the globe, there are more than 2 million job opportunities for Retail management candidates. One who is having a retail management degree can start a career in supervisory, client communication, merchandise shipment, sales, management and administrative services.
Retail Management course involves is as follows:
- The evolution of world retailing
- Retailing in the world and India
- Retailing Concepts
- Retail Marketing
- Retail Store Operations
- Information Technology & Internet in Retailing
- Fundamental accounts & Finance in retailing
- Pricing, Promotions & Markdowns in Retailing
- Supply Chain Management in Retailing
- Retail category management & Sourcing
- Understanding Customer Behavior Retailing
- Retail Selling Skills
- Understanding Services Marketing
- CRM & Customer Loyalty Management
- Visual Merchandising & Space Planning
- Luxury and lifestyle Retailing
- Business Communication & Social Etiquette in Retailing
- Placement Preparatory Training
Eligibility Criteria to join the Retail Management Course:
- Candidates should have completed 10+2 are eligible to pursue retail management course in UG level.
- Candidates should have completed Bachelor’s Degree in relevant discipline are eligible to pursue Masters and Doctoral level at India and abroad.
Job Roles for Retail Management Candidates are as follows:
- Retail Manager
- Store Manager
- Retail Buyer
- Supply Chain Distributer
- Marketing Executive
- Warehouse Manager
- Brand Manager
- Customer Care Executives
- Image Promoter
- Merchandise Manager
- Department Manager
Top Companies who hires Retail Management Candidates is as follows:
- Retail Industries
- Reliance Group
- ITC Retail
- Aditya Birla Group
- Tata Groups
- Lifestyle International
An average salary for a fresher retail management candidate varies from 2 lakh to 4 lakh and it depends upon the companies too.
Retail Management Course is offered in top colleges of India:
- K J Somaiya Institute of Management Studies and Research
- Birla Institute of Management Technology
- Institute of Public Enterprise
- Amity Business School
- L.N Welingkar Institute of Management, Development and Research
Retail Management course is offered in top universities abroad is as follows:
- Florida International University
- Purdue University
- University of Minnesota
- Eastern Kentucky University