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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

How to Pursue a Career in Retail Management

StreamGraduationAfter GraduationAfter Post Graduation
Path 1
Class XII with any streamPursue BBAPursue MBA in retail managementPursue Phd. In retail management
Path 2
Class XII with any streamPursue Bachelors in any discipline (at least 50% marks)Pursue MBA in retail managementPursue Phd. In retail management
Path 3
Class XII with any streamPursue 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
CollegeLocationWebsite
Indian Institute of ManagementAhmedabadwww.iima.ac.in 
Indian Institute of ManagementBangalorewww.iimb.ac.in 
Advance Institue of Mangament and Technology (AIMT)Delhiwww.aimtdelhi.in/(S(dtirdkghq4avkutx30kstysl))/Index.aspx 
University of MumbaiMumbaiwww.mu.ac.in/portal 
University of DelhiDelhiwww.du.ac.in/du 
Narsee Monjee Institute of Management StudiesMumbaiwww. http 
Indraprastha UniversityDelhiwww. http 
Christ UniversityBangalorewww.christuniversity.in 
XLRI jamshedpurPunewww.xlri.ac.in 
Xavier Institute of ManagementMumbaiwww.ximr.ac.in 
Symbiosis Institute of ManagementPunewww.sibm.edu 
Top Retail Management Institutes in the World
InstitutionLocationWebsite
London Business SchoolUnited Kingdomwww.london.edu 
Harvard UniversityUnited Stateswww.harvard.edu 
Copenhagen Business SchoolDenmarkwww.cbs.dk/en 
INSEADFrancewww.insead.edu/master-programmes/mba
Stanford UniversityUnited Stateswww.stanford.edu 
London School of Economics and Political ScienceUnited Kingdomwww.lse.ac.uk 
University of Hong KongHong Kongwww.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.

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