Retail in India is a dynamic field in which the likes of the Ambanis, Birlas, Biyanis, Goenkas, Piramals and Tatas have created their own niches. Retail outlets play a major role in the way Indians purchase items these days. Vast malls spread out over a large area, the bright lights, soft background music and air conditioning are major factors which contribute to the shopping environment of today. Not only does this make shopping less of a hassle and struggle, but this can also create job opportunities and rewarding careers for many, by way of professions in accounts, administration, finance, human resources, inventory, logistics, management, marketing, sales, security and storage space optimization.
The Master of Business Administration (MBA) course specializing in Retail Management generally has a duration of at least two years.
Retail management may be a good career option for you if you have an avid interest in sales markets, business diversification, campaigning, advertising, market research and market segmentation. You could explore new companies introduced to the market, see how they innovate with new products and how they fare with established companies.
Entrance exams like Common Aptitude Test (CAT), XAT, CMAT, MAT or the General Management Aptitude Test (GMAT) must be cleared to pursue an MBA in retail management from most institutes.
Some institutes offering diploma courses in retail management conduct their entrance exams as well.
Basic qualification to apply for this course is 10+2 or an equivalent qualification.
You may be taught subjects such as introduction to retail management concepts, trends, market segmentation, pricing, merchandising, relationship marketing and the role of information technology (IT) in retailing. It may help your career if you are aware of brands, marketing strategies and retail philosophies.
The two-year MBA program is usually divided into four semesters.
Amity Business School - Noida
Abhinay Institute of Technology and Management
Birla Institute of Management Technology
Career Care Institute of Management Studies - Bangalore
GD Goenka University - Haryana
International Institute of Fashion Technology
Jagan Institute of Management Studies
MICA - Ahmedabad
National Institute of Retail Management
Symbiosis Centre for Distance Learning
Retail Management is one of the fastest-growing and on-demand courses in India. The main aim of the course is to prepare professionals who can deliver a superior shopping experience for the customers. As India’s retail market is growing rapidly, many trained professionals are required with skills in retail management. The course also offers a wide variety of jobs in India as well as abroad.
Professionals looking for a career in retail management must demonstrate some key skills like,
The Retail Management course enjoys great popularity in India, and many colleges in India offer the course. The leading colleges offering a course in retail management include Birla Institute of Management, Amity Business School and so on. Overseas, the University of Minnesota, Florida International University, Central Michigan University are the most popular institutions.
After completing UG, you can opt for PG, Diploma or MBA in the field. After completing a PG course in retail management, you can expect to work as a store manager, warehouse manager, brand manager, marketing executive, customer executive, image promotor, department manager, analyst and so on.
The average salary for the retail management field tends to range between Rs. 2,00,000 to 4,00,000 per annum. The expected salary differs across companies. Aditya Birla Group, Reliance, Spencers, TATA, ITC are some of the leading recruiters for retail management graduates.
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