Retail Management

Introduction

retail-managementRetail Management’ is one of the newest specializations of management study.

Retail means sale of goods, service & satisfaction for consumers. Management means the proper utilization of the resources.

Retail management is an integrated part of the supply chain management. A few years back, retail has been just the selling of goods in market places, stores, door-to-door and by hand delivery. But now, the trend has been changed in the retail market.

Now, the retail industries are establishing the network marketing by online shopping, through the websites and other technology, electronic payments and delivery through the courier and other services. Now, the retail management has come in the form of separate specialization.

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In a line about the retail management, we must say that:

The “Retail Management” is a process of promoting sales and customer satisfaction by using the retail methods and technology”.

The word “Retail” comes from French word “Retailer” that’s means “to cut a piece off”.

In these days, shopping has become a hobby for a new generation. Retail Management saves the time & ensures that customers easily locate their preferred merchandise and return home satisfied.

Courses & Duration

The students, who are pursuing the course of retail management are taught about the introduction and concept of retail management, retailing trends, pricing and merchandising, segmentation, relationship marketing and information technology in retailing. There are various options to pursue degree & diploma programme in retail management.

The courses leading the retail management after 12th standard are as the following:

  • Certificate course in Retail Management – 6 months
  • Diploma in Retail Management – 1 year
  • Bachelor of Science (B.Sc) in Retail Management – 3 year
  • Integrated degree (MBA) in Retail Management –5 year
  • B.Sc. in Fashion Merchandising and Retail Management (B.Sc-FMRM)
  • M.Sc. in Fashion Merchandising and Retail Management (M.Sc-FMRM)

There are many institutions and universities offering the retail management study through the online and distance learning to facilitate the working professionals.

The whole course is divided into six modules:

  • Front Office Management
  • Inventory Management
  • Merchandising Management
  • Shop Floor Management
  • Store Management
  • Supply Chain Management

Specializations:

  • Merchandising
  • Marketing
  • Customer Relation
  • Mall Management
  • Operations
  • Marketing Strategies
  • Accounting
  • Buying
  • Pricing
  • Personnel
  • Business Mathematics
  • Competitive Analysis and Planning

Eligibility

Students have to meet the given eligibility criteria to pursue a retail management programme:

  • For UG courses, students must have to pass 10+2 examination in any stream.
  • For PG courses, students have to qualify the bachelor’s degree in relevant discipline.

Retailers Association of India (RAI) is the first independent body of retailers in India.

Admission

To get the admission you should have clear the 12th examination with minimum 50% in any stream. For MBA (Integrated) you may have to appear the entrance examination conducted by the universities.

The CAT 2020 (Common Admission Test), MAT 2020 (Management Aptitude Test), XAT 2020 (Xavier Aptitude Test) are some of the universal entrance examination for the management study in any stream. The admission is done based on the scores of these entrance examinations.

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Jobs & Career

Retail Industry is one of the fastest growing & challenging industries in the world & contributes the economic growth of the country. During the past few years in the retail sector, the demand for skilled professionals has increased. The retail management is the right career for those having the interest in merchandise, market & marketing, sales, advertising, campaigning and market research.

The Job opportunities are available in this field such as departmental stores, advertising agencies, supply chains, supermarkets, etc. Retailing involves a direct communication with the customer & coordinating the business activities. Those are specialists in retail management are known as Retail Managers.

Retail Managers are concerned with problem solving, analyzing the supply, monitoring retail orders, merchandising, human resources & stocks, etc. You can work in manufacturing companies as a retail manager to help the customers about the products. Retail Managers are also required by other companies such as Insurance, Banking, Education, Healthcare, etc.

In retail career you may get the job opportunities by the big bazaar, supermarket and other related big retail industries. You may start your career as a sales executive and gain the higher post as the mall manager or store manager after getting the experience.

So many foreign retail industries are expanding in Indian market and you may get the opportunity to work with them. You can start career in client communication, sales, supervisory, merchandise shipment, management & administrative services.

Some of the job titles in this field are:

  • floor managers
  • floor executives
  • lobby managers
  • sales managers
  • marketing managers
  • Retail Manager
  • Supply Chain Distributor
  • Customer Care Executives
  • Marketing Executive
  • Merchandiser
  • Store Manager
  • Image Promoter

Recruiters

The job sectors & recruiters in Retail Management are as the following:

  • Malls
  • Movie Theatres
  • Super Markets
  • Hyper Markets
  • Shopper’s Stop
  • Westside
  • Pantaloons
  • Lifestyle
  • RPG Retail
  • Crossword
  • Wills Lifestyle
  • Globus
  • Piramals
  • Ebony Retail Holdings
  • Reliance
  • Big Bazaar
  • Vishal Mega Mart
  • Regal
  • Metro
  • Bata

Skill Required

  • Good Communicator
  • Patience
  • Good Listener
  • Strong Customer Service Skills
  • Professional
  • Problem-Solving Skills
  • Self-Confident
  • Strong Negotiator
  • Ability to motivate, train and develop others

Salary & Remuneration

A fresher in retail management as a sales executive can earn the 2 lakh to 3 lakh per annum. Once you have got the experience to handle the customer, supply and floor management, you may earn the handsome pay packet. After gaining an experience, you can earn approx. Rs. 6 to 7 Lakh per year.

In retail Industry, the salary depends upon the qualification, company, area where you work & job profile. The bonus, incentives & special packages are offered as part of this career. In abroad, the salary also varies depending upon several factors such as shops, places & products. You can get a handsome of $36,000 to $45,000.

Books & Study Material

  • Retail Marketing Management by David Gilbert
  • Fundamentals of Retailing by V. S. Madaan
  • Retail Management: A Strategic Approach by Berman Berman
  • Strategic Marketing for Success in Retailing by Coskun Samli
  • Retail Marketing and New Retail Idea – Marks & Spencer by Sven Hallbauer
  • Retail Management by C. Bhatia
  • Merchandising Math For Retailing by Cynthia R. Easterling, Ellen L. Flottman, Marian H. Jernigan, Beth E. S. Wuest

For any information about Retail Management, you can ask your query in the comment box.

Displaying 39 Comments
  1. Ev rajeshgoud says:

    Hello
    Greetings of the day
    I’m working in retail outlets from 5years with my MBA present I’m looking to do some courses related but I have no idea

  2. Rahul Kumar says:

    How to apply for diploma in retail management

  3. umakant maurya says:

    hi how can join this course plese call me my contact number is 9716674866 &please call me and solved my queries

  4. khushbu gupta says:

    I have passed 12th class with commerce stream.
    Now i am in B. Com 2nd year.
    Can I join this course ?
    If, yes how can I join this?

  5. Subhash sagar says:

    wdear sir/mem kItni selyr hogi isme or minimum or maximum slry kya hai is course ko krne ke baad

  6. Murali Putluru says:

    My son has studied 12th standard and could not pass the final examination. Now he is working with “D” mart since one year. I have suggested to take him the course of retail management because he is in the same line. Will you be able to suggest which course is most suitable and prosperous to him.

  7. Gufran says:

    I want to know fees

  8. Amit says:

    What are scope of inventory management

  9. Terin says:

    I would like to take admission in retail management courses plz give me details. please let me know the course fee also.
    thank you.

    • Hanif Khan says:

      Course fee depends upon the virtue of college where you will look for admission. how ever PG/MBA in retail management fee starts with 50k to 5lac. Beside this you can earn PG diploma in same field.

  10. Nimesh pawar says:

    what would be the fees of the course retail management i would like to do it for my better carrer.

  11. mahesh says:

    It is degree course it is helpful for government jobs

  12. Tamkin kapadia says:

    Sir I have to take admission in retail management courses plz give me details how to take admission. And what is the fees of this course.

  13. rizavan alam says:

    I want to know about one year PG Diploma course in retail management, admission time, how to get admission..admission process, fees, duration, opportunities.

  14. urvi yogi says:

    What is the scope of bachelor of vocation in retail and logistics mgt .

  15. govind thakur says:

    I want to know colleges or institute which offer diploma in retail management in kolkata….plzzzz do reply

  16. shilpa says:

    Want to know about the fees for studying this course

  17. Atanu chongder says:

    I have almost 10 yes experience. My qualification b.sc. since. MBA marketing correspondence.pls give me suggestion can I joined aretail teacher..any college.

  18. sudhir s desai says:

    want to know fees,duration diploma for job holder as i am working in sales field in para medical field.

  19. awal khan says:

    Working in hosiery industry alst 10years. Can u suggest any short time course in retail management and merchandising.

  20. sanjeev kumar sharma says:

    Hello Sir
    I want join retail management course.How can join this course

    • mayuree boruah says:

      if u wanna go for retail management then u should choose a college which is the best for placement in retail management.there are many good colleges in pune for retail.

  21. sneha raut says:

    kya mujhe abhi admission mil sakta hai mumbai mai?

  22. amit lokhande says:

    how can join this course please call me on my mobile 7208561557 & please solved this queries and fees.. from mba retail management

  23. Mahadev Singh says:

    I want to know about 1 year diploma course in Retail management

  24. gitanjali mehra says:

    I complete graduation in arts.now what can I do .can I apply for retail management

  25. shsilendra kamal says:

    How I can apply for retail management

  26. Sumiti says:

    Want to know more on retail mgmt courses

  27. veer negi says:

    Plz tell me about retail mangment course 1 years program and fees

  28. prince says:

    How can I do retail management plz tell me

  29. retail managemant says:

    Cource ki fees kitni ha

  30. i want join retail management course says:

    how can join this course please call me on my mobile 9967007605 & please solved this queries

    • Mohit Negi says:

      You can appear for MAT examination, after qualifying that you can take admission in MBA college offering MBA in retial management.

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