Retail Management - Courses, Colleges and Careers

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.

Eligibility Criteria

  • Entrance exams like Common Aptitude Test (CAT)XATCMATMAT 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.

Topics covered in Retail Management

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.

  • The first semester usually covers basics of accounting, communication, economic analysis, behavioral science and fundamentals of retailing.
  • The second semester generally entails subjects like marketing research, merchandising management, shoppers’ behavior, human resource management and financial management. Legal aspects of management should also be covered.
  • In the third semester, you will usually find subjects like strategic management, franchising in retailing, Lean Six Sigma in retail, mall dynamics and real estate management and retail branding and Customer Relationship Management (CRM).
  • The last semester would probably cover subjects like advertising and sales promotion, rural retail, e-retailing, business communication and retailing of insurance products and financial services. A project or dissertation may be required at the end of the course.

Top 10 Colleges/Institutes for Retail Management

College/Institute

Amity Business School - Noida

College/Institute

Abhinay Institute of Technology and Management

College/Institute

Birla Institute of Management Technology

College/Institute

Career Care Institute of Management Studies - Bangalore

College/Institute

GD Goenka University - Haryana

College/Institute

International Institute of Fashion Technology

College/Institute

Jagan Institute of Management Studies

College/Institute

MICA - Ahmedabad

College/Institute

National Institute of Retail Management

College/Institute

Symbiosis Centre for Distance Learning

FAQs

Q1. What will I learn in a retail management course?

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.

Q2. What are the skills required to excel in retail management?

Professionals looking for a career in retail management must demonstrate some key skills like,

  • Excellent organizational and management skills
  • Good leadership skills
  • Great interpersonal skills
  • Ability to handle customers politely
  • Expert knowledge about the retail industry
  • Multitasking ability is a must-have skill in retail management

Q3. What are the top colleges and universities in India that offers these course?

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.

Q4. What are my career prospects after studying retail management?

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.

Q5. What is the average salary one can earn in retail management?

Related Links

Latest
Articles

Join Our Whatsapp Community

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud