Careers in Retail Management
Retail involves the distribution process of the product from manufacturer to ultimate consumers via short and convenient channels, i.e., retailers. Pantaloon, Wallmart, , Shoppers Stop, Pyramids, Reliance Fresh etc. are some top most retailers in India. Shopping complexes, Malls, Multiplexes are spreading not only in metropolitans but in newly developing cities as well. To keep track of the marketing ethics involved in retail, it needs trained professionals to manage their outlets.This is where Reatail Managers come into picture.Reatil managers are needed to execute the marketing and sales strategies of the malls and in the process churn out more profits for the concern. The job demands good time management skills, leadership qualities, good communication skills, decision making abilities, better team effort and strong marketing awareness with their personnel.
Retail Management is a professional program that nurtures and train a graduate to enter into the field of Retailing. Various Degree and Diploma level program are available in retail management. These include MBA (Retail Management), Post Graduate Diploma Program in Retail Management (PGPRM), Post Graduate Program in Retail Communications Management (PGRCM), Post Graduate Diploma in Retail Management (PGDRM), Post Graduate Programme in Retail (PGPR) and Diploma in Retail Management (DRM) . The eligibility for most MBA and post graduate courses is graduation in any subject. For MBA and PGDRM courses student need to crack all India entrance tests like CAT, XAT, MAT and many more. Rules and regulation varies form institutes to institutes for admission into Post-graduate level courses. The diploma courses are open to all graduates from any background.
Career Prospects in Retail Management
India is one of the top ten emerging retail markets all over the globe. There are approximately 4.3 million retail outlets spread over the nation, which require about 3.25 million retail personnel at present. With such a huge potential retail management offers limitless job opportunities in supply chains, exporting houses and departmental stores. Manufacturing companies also recruit retail managers to reach out to the customers directly. Banking, finance and insurance companies also need professional retail managers to bring their products directly to the customer. IT and IT enabled services companies particularly in the field of telecommunication also require large numbers of retail managers considering the recent boom in this sector. Besides these education and health care industry also absorb a large number of retail managers.
Retail Management graduates normally start with a salary of Rs 20,000 to Rs 25,000 per month in private sector. With some quality experiences in retailing one can easily reaches up to 6-figure pay packages. Retail graduates from reputed institutes even touch 7-figure mark with 5-7 years of experiences.
Retail Management Institutes in India
To cope with the increasing demand for retail managers in the economy several institutes offer retail management courses in India. Some prominent among them are