The rapidly evolving technological landscape has led to the emergence of new career opportunities in the retail industry worldwide as well as in India’s tier 2/3/4 cities.
Thanks to digital transformations, the sector is experiencing robust business outcomes, thereby expanding job prospects. Post the COVID-19 pandemic, this growth trend has accelerated globally, particularly in the e-commerce sector, owing to favorable government policies facilitating digital purchases, resulting in a continuous upsurge in digital consumers. As a consequence, the retail sector is witnessing consistent growth.
Various companies, both large and small, are venturing into the realm of retail business, consequently increasing the demand for skilled professionals in this field. Recognizing the excellent career prospects in this sector, numerous institutions are offering retail management courses. If you aspire to build a career in this domain, read on to discover more.
What is Retail Management?
Retail management entails the process of enhancing customer satisfaction alongside managing the business operations of a company or brand. It encompasses supply chain management, which has evolved significantly with the advent of online shopping, digital payment systems, and courier services. These changes have amplified the demand for experts in the field, as retail management not only saves time but also ensures that customers can easily purchase their desired items while being satisfied.
Retail Management Course Eligibility
Professional courses in retail management include MBA, post-graduation diploma, diploma, certificate programs, among others. Some institutions offer degrees in international business along with foreign trade. Admission to MBA courses is typically through entrance exams like CAT, MAT, XAT, etc., while most institutions admit students based on merit and interviews.
In India, the Retailers Association of India (RAI) conducts the Common Admission Test annually. Successful candidates can seek admission to affiliated institutions. To enroll in any retail management course, candidates must have passed 12th grade with a minimum of 50%. Graduation is mandatory for admission to master’s, diploma, and PG diploma programs. After entrance exams, candidates undergo group discussions and interviews for admission.
Retail Management Career Options
Here are some top career options in retail management:
- Customer Sales Associate: Graduates of retail management courses can begin their careers as customer sales associates in companies. This entry-level position is crucial for retail companies as their growth often depends on these professionals who must have a good understanding of products, shops, and customers.
- Store Manager: Also known as general manager or store director, a store manager is responsible for tasks ranging from paying employees to determining their duties. They report to district or regional managers at senior levels.
- Retail Manager: A retail manager is responsible for planning company outlet operations and coordinating daily operations. They also prepare retail orders and stock monitoring reports.
- Retail Merchandisers: Retail merchandisers purchase all items for retail outlets, determine their rates, and understand customer demands. They possess a good understanding of current market trends.
- Visual Merchandisers: This role involves promoting brands by designing store layouts and selecting enticing colors to attract customers, making it one of the most crucial positions in the retail industry.
Top Retail Management Institutes in India
– Narsee Monjee Institute of Management Studies, Mumbai
– Birla Institute of Management and Higher Studies, Noida
– Pearl Academy of Fashion, New Delhi
– Indian Retail School, New Delhi
– Mudra Institute of Communications, Ahmedabad
– Welingkar Institute of Management
– KJ Somaiya Institute of Management Studies and Research, Mumbai
– Indian Institute of Social Welfare and Business Management (IISWBM), Kolkata
– ITM Business School, Mumbai
– BK School of Business Management, Gujarat University, Ahmedabad
Retail Management Salary Package
The average annual salary for retail managers is over ₹6,00,000. However, salaries in this industry depend on the company, work profile, and location. Entry-level positions offer monthly salaries ranging from ₹15,000 to ₹20,000. Candidates with an MBA from reputed institutions receive initial offers ranging from ₹30,000 to ₹40,000 per month, in addition to bonuses and incentives. With a few years of experience, individuals can expect substantial income growth in this field.
At RETAIL JOB ACADEMY, we specialize in fast-tracking your retail career in just 45 days. With industry-focused curriculum, hands-on training, and expert mentorship, we ensure you’re equipped with the skills and experience needed to thrive in the retail sector. Join us today and jumpstart your journey towards a successful retail career!
