In an era when we consider customer to be the king, a specialization like the retail management has multiple options. Read the following post to know more about a career in retail management.
The selling of goods and offering services to consumers is known as retail management. If you are looking for a stable and easy career then retail management is the best option. Numerous job opportunities are available for qualified professionals. You can even do an MBA program in this field to train yourself as a professional retail employer or manager. The retail management industry requires highly professional people who can conduct retail sales as well as address the consumers. MBA in Retail Management is offered by many colleges in India and they shape up well professional retail managers. The course generally covers areas of sales management.
What is an MBA in Retail Management?
The managing of supermarkets and hypermarkets can be a tough job. These are all business related terms and the Indian retail industry is witnessing huge growth over the past few decades. The retail business is adopting new marketing strategies and is always in need of well-educated and professional retail managers. Owing to the growth of the retail industry, many enthusiastic students are looking forward to make a career in the retail industry. The popularity of an MBA in Retail Management is also increasing by leaps and bounds. An MBA in this field generally deals with merchandise and retailing management, advertising, marketing, sales promotion, accounting and computer application for developing business and many more.
Curriculum in this field of MBA
Students choosing to do an MBA in this field need to focus on different specializations. Such varied groups are sales, design, fashion, beverages, foods and lots more. Other subjects like store management, operation management, industry strategies, organizational leadership and merchandising are also focused on in the curriculum of the course. An individual can select from anyone in this group and make a bright future in the coming days. The areas of work those are open after doing an MBA in this field are visual merchandise, sales, retail manager, supply chain distributor, marketing executives, warehouse managers, retail merchandiser and buyer and logistics. The industries which offer jobs are merchandising industry, publishing industry, music stores and shopping malls.
This is one of the most popular MBA course among youngsters. After gaining a sound knowledge they are capable of achieving a large number of store sales as well as profit. Students are also taught how to communicate with the clients to gain their satisfaction and grab the administrative responsibility of the store. The scope of this field is ample in abroad.
Colleges offering this course
As MBA in retail is gaining popularity, colleges offering this course are also increasing. However, to take admission in such a course you need to crack some admission tests. Important among them are CAT, CMAT, XAT, MAT, and GMAT. Some of the top colleges need a cut off marks of 92 in any of the above exams. The best college in India offering this course is IIM Ahmedabad. Other important colleges in India include IIM Bangalore, IIM Shillong, Global School of Business in Delhi, School of Management Science in Varanasi, Jagan Institute of Management Studies in New Delhi, Siva Sivani Institute of Management in Hyderabad, and Ambedkar Institute of Management Studies in Vishakhapatnam.
Different companies are there who are in search of retail managers. After getting an MBA degree it is not a tough job to get hired. Employees who are hired for entry level jobs by top companies are known as lobby managers, floor managers, floor executives etc. After acquiring a corporate level they are known as marketing managers and sales managers. The top retail companies with huge job openings are Westside, shopper’s stop, Pantaloons, Crossword, Lifestyle, Ebony Retail Holding, Globus etc. The products may vary from one place to another, but the job of a retail manager remains the same that is, to please customers.
Future of Retail Industry in India
The retail industry is subjected to continuous transformation. The retail sector is growing by leaps and bounds owing to the increased demand of the consumers, huge availability of real estate and advanced sourcing options. At present the retail industry is the greatest source of employment after agriculture. The skills required to be successful in this field can easily be acquired by having a strong hold in academics. All the training institutes are taking up new initiatives to train youngsters to grab a position in this challenging industry. As we live in a consumer society, so, demand for consumer goods is no doubt to increase in the near future. This will in turn keep the demand for retail managers high.
Author Bio: A professional writer and an ardent blogger, Sampurna Majumder has been lending her knowhow to prominent websites like Shiksha.com by penning articles and blog posts on popular courses, educational trends and institutes like these.