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Retailing

(Business Management)

Career Overview

Career Overview-

Being the last step at every supply chain, retail is no more about local grocery stores or small boutiques. Retailing at India is on an upward spree, getting on with international standards. With the expansion of shopping malls, departmental stores, retail parks across the Indian real estate, huge employment opportunities are opening up for it, both in India and abroad. Career in retail management includes setting and operating retail space for getting maximum profits while offering maximum value to all stakeholders. The challenges and competition in retail management make it one of the most attractive careers among competent youngsters

Fields-

Following are the major fields for a Retail Management Professional:

  • Market Retailing
  • Shops retailing
  • Virtual Markets over internet, telephone and Television
  • Industrial Retailing
  • Malls & Retail complexes
  • Retail Chains like M&S, Pantaloons, Big Bazaar etc 

Eligibility-

For admission to Graduate courses, institutes ask for 10+2/Intermediate or equivalent qualification. For PG programs like MBA-Retail or PGD (Post Graduate Diploma) in Retail, the candidate should be a Bachelor in any discipline (10+2+3 or 10+2+4 years of education) from a recognised university with at least 50% aggregate score (which can be 60% in case of some institutes). SC/ST/OBC candidates in most cases can apply with 45% marks. Students are often selected for PG courses through an entrance exam followed by Group Discussion and Personal Interview and work experience in case of some institutions.

Entrance Examination-

The admission to UG Retail courses is usually direct on the basis of 10 + 2 result. Normally the application procedure includes a duly filled candidature form. Following are some examinations for PG courses

  • CAT or common Aptitude Test conducted by IIMs (Indian Institutes of Management)
  • Entrance exam conducted by IP University for BBA (www.ipu.ac.in)
  • XAT or Xavier’s Admission Test (www.xlri.edu)

 WORK PROFILE-

  • Customer issues: assisting customers and responding to customer complaints, requests, queries, and comments.
  • Sales issues: finding new ways to improve sales, meet sales targets, analyze figures, forecast volumes, and strategize.
  • HR issues: recruiting, training, supervising, motivating, and reviewing staff, as well as resolving health, safety, and legal issues for the store.
  • Inventory issues: maintaining stock levels, ensuring the quality of supplies, and supervising the quantity, type, and scheduling of orders.
  • Display issues: planning the layout and design of displays.
  • Coordination issues: acting as a link between management and staff.

Job Prospects-

A Retail Management professional can work in various Retail Management profiles (mentioned under FIELDS) as:

  • Sales Personnel
  • Store Manager
  • Retail Manager
  • Visual Merchandiser
  • Retail Marketing Professional
  • Product Development Manager
  • Supply Chain Distributor
  • Logistics & Warehouse Manager

Payoff-

Salaries at the entry level range from Rs 75,000 to Rs 100,000 per annum which can go up to Rs 200,000 - Rs 250,000 in one to two years. MBA's from a reputed B-school can earn around Rs.600,000 per annum while others can earn around Rs. 300,000 to Rs 400,000 per annum. But the actual amount received and its hike depends on individual’s performance. 


PROFESSIONAL SKILLS-

  • Cool temperament and a pleasing personality
  • Good communication skill with positive attitude
  • Organisational skills
  • Leadership qualities with team spirit
  • Dynamism and stamina to work for long hours
  • Analytical and inferential mind
  • Tactful and diplomatic attitude

 



INSTITUTES OFFERING POST GRADUATE COURSES IN RETAIL MANAGEMENT IN INDIA

  • Loyola Institute of Business Administration, Chennai
  • Mudra Institute of Communications Ahmedabad
  • Welingkar Institute of Management, Centre for Retail Studies, Mumbai
  • K J Somaiya Institute of Management Studies & Research, Mumbai
  • Indian Institute of Commerce and Trade, Lucknow
  • Indian Retail School, New Delhi
  • Indian Business School of Advanced Management Studies, Mumbai
  • International Institute of Retail Management, New Delhi
  • International Institute of Management Studies, Pune
  • Institute for Technology and Management, Chennai