Retail Management As A Career

Retail Management As A Career

Summary

Retail Management is a career which involves endorsing final goods to increase customer satisfaction and increasing sales by understanding the needs and demands of the customers. The customers come and buy the products they need from the retail stores and the retail manager is the one who manages all the demands of the customers. It opens up doors of opportunities in various fields such as administrative, marketing, sales, merchandise shipment, etc. Retail managers view everything as to how a store works, from all the back end functions such as buying merachandise, etc to sales such as customer service etc. A student of retail management would study about retailing, marketing, advertisement, administration, international retailing, etc. Retail management is the perfect job for those who are interested in marketing, marketing research, merchandising, advertising etc.

Career Opportunities in Retail Management

• Healthcare
• Fashion
• Departmental Stores
• Academics
• Sports

How to Pursue a Career in Retail Management

	Stream	Graduation	After Graduation	After Post Graduation
Path 1	Class XII with any stream	Pursue BBA	Pursue MBA in retail management	Pursue Phd. In retail management
Path 2	Class XII with any stream	Pursue Bachelors in any discipline (at least 50% marks)	Pursue MBA in retail management	Pursue Phd. In retail management
Path 3	Class XII with any stream	Pursue Bachelor in any discipline (at least 50% marks)	Pursue Diploma (post graduate) in retail management	-

Important Facts

• A candidate must have passed class 12th or equivalent with at least 50% marks including English as one of the subjects.
• An aspirant needs to be a graduate in any discipline with at least 50% marks
• An aspirant needs to crack exams like CAT, MAT, XAT, etc in order to get into a management course at Masters level.
• An offline/online certification course in retail management would be an advantage for your profile.

Leading Institutes

Top Retail Management Institutes in India

College	Location	Website
Indian Institute of Management	Ahmedabad	www.iima.ac.in
Indian Institute of Management	Bangalore	www.iimb.ac.in
Advance Institue of Mangament and Technology (AIMT)	Delhi	www.aimtdelhi.in/(S(dtirdkghq4avkutx30kstysl))/Index.aspx
University of Mumbai	Mumbai	www.mu.ac.in/portal
University of Delhi	Delhi	www.du.ac.in/du
Narsee Monjee Institute of Management Studies	Mumbai	www. http
Indraprastha University	Delhi	www. http
Christ University	Bangalore	www.christuniversity.in
XLRI jamshedpur	Pune	www.xlri.ac.in
Xavier Institute of Management	Mumbai	www.ximr.ac.in
Symbiosis Institute of Management	Pune	www.sibm.edu

Top Retail Management Institutes in the World

Institution	Location	Website
London Business School	United Kingdom	www.london.edu
Harvard University	United States	www.harvard.edu
Copenhagen Business School	Denmark	www.cbs.dk/en
INSEAD	France	www.insead.edu/master-programmes/mba
Stanford University	United States	www.stanford.edu
London School of Economics and Political Science	United Kingdom	www.lse.ac.uk
University of Hong Kong	Hong Kong	www.hku.hk

Work Description

• Job of retail managers involve attenting to customer needs, finance, accounting, sales, etc of the retail stores.
• Managing the finished products in accordance with the demands of the customers.
• Directly involved in managing of the retail outlet or the store from back end functioning to the front sales.
• After the completion of the MBA in retail management one can also get into the education sector wherein they can become teacher at a college.
• Work of retail managers is spread across various domains where in they are majorly involved in managing of the outlet or the store.
• Retail managers have to ensure that the staff gives excellent service and that the customers are happy.

Pros & Cons of a Career in Retail Management

Pros

• The job role of retail manager involves people interaction as you will be in interaction with a wide range of people.
• Retail management involves working at different levels such as in selling, floor head, store management, etc. which allows you to remove stagnation from the job as there is greater capacity for promotion if you do your job with full dedication.
• It allows you to do varied work such as dealing with customers, handling finance and accounts, marketing, merchandising etc.

Cons

• It’s a difficult job as it requires immense amount of effort and energy throught the day.
• As it involves handling various jobs at one point of time, internse work pressure comes with it.
• It also involves long working hours.