Careers in Retail Management
Introduction
The word retail means ?to sell in small quantities to the final consumer.?
Retail Management is a career program designed to prepare professional
graduates for the field of retailing at the managerial level.
Retail careers mainly fall into two main categories: those involved in
merchandizing, which means purchasing the goods offered for sale, and those
involved in selling goods to the public.
Career in retail management is fast becoming one of the highly sought after
career options in India. Individuals, who are interested in a
service-oriented, entrepreneurial profession, should consider retailing as
better career option. By doing a professional course in retail management
one can go for store management, buying, merchandising, central management,
and the booming area of e-tailing (online retail) which bridges the
technology, marketing and retail sectors.
The retailing sector is expected to become a 24 billion dollar industry by
2010 in India. It will require trained manpower to run hypermarkets, super
stores and wholesale cash and carry facilities. Those aspiring to make a
career in retail industry feel that a management institute gives them all
that is needed to become successful.
Many management institutes and universities in India and abroad are offering
Diploma, Bachelor's, Master's and Doctoral programs in marketing and sales.
A Bachelor?s degree in marketing and sales will lead to careers in areas
such as retail and wholesale sales, marketing management, product planning,
market research, small business management, and product display, promotion,
and distribution etc.
Eligibility
Graduates in any stream can apply for postgraduate diploma course in retail
management. Almost all institutes for retail management conduct written
entrance test followed by GD and interview. One can also pursue masters
program in retail management with the same qualification.
Job Prospectus
The Indian retailing sector has been buzzing with job opportunities. Some of
the big players of the field like the Big Bazaar, J.C. Penny, Tesco,
Shopper?s Stop, Reliance,? I.T.C., are all competing in the retail
chains business. The Government?s nod, recently, for the entry of multi
national companies like Walmart etc. in the Indian retail sector has opened
up a plethora of job opportunities in this field.
There are numerous opportunities in this field. Apart from becoming a Retail
Manager one can look for becoming floor managers where the job is to
maintain the individual floor, inventory manager looking and managing the
inventory in the store, shopping operational manager looking towards the
replacement of the stock and customer service.
Pay-Package
Remuneration in this field is generally high. A fresher from an average
retail school/management institute can expect a starting monthly salary of
Rs 10, 000 which may increase subsequently after gaining experience and
skills. However, the package differs from company to company. The retail
giants like Reliance, I.T.C, Wallmart offers Rs 2 ? 3 lakhs per annum to
fresh passouts from reputed institutions