In today’s fashion age, shopping is no longer just about the need for the people, it has now become a lifestyle hobby.
The concept of shopping has evolved over the period of time and the consumer buying behaviour has transitioned from a basic necessity to an experience-driven activity.
Over the last few decades, urbanisation and the expansion of malls and retail outlets have significantly boosted the retail culture.
The retail Industry is one of the fastest changing industries in the world and has contributed to the economic growth of many countries.
The term ‘retail’ is derived from the French word retailer which means ‘to cut a piece off’ or ‘to break bulk’.
What is Retail Management?
Retailing is a vital part of the business industry that involves selling products and services to consumers.
Retailing involves the timely delivery of goods demanded by consumers at an affordable and competitive price.
Retail management is an integrated part of supply chain management. It involves planning, organizing, and overseeing the day-to-day operations of retail outlets such as supermarkets, malls, showrooms and e-commerce platforms.
Retail Management Courses
To pursue a career in the retail industry, candidates can take admission in diploma or a degree course in retail management, offered by many top universities.
Here is the list of top retail management courses after 12th:
Diploma/Certificate Courses
- Diploma in Retail Management
- Diploma in Fashion Retail Management
- Advanced Diploma in Retail Operations
- Certificate in Retail Management
- Certificate in Visual Merchandising
Also Check – Top Diploma Courses after 12th
Undergraduate Courses
- B.Sc. in Fashion Merchandising and Retail Management (B.Sc.-FMRM)
- Bachelor of Fashion Retail Management
- BBA in Retail Management
- BBA in Retail and Fashion Merchandising
- BBA in Retail Operations
Postgraduate Courses
- M.Sc. in Fashion Merchandising and Retail Management (M.Sc.-FMRM)
- M.B.A. -Retail Management
- Post Graduate Certificate in Retail Management (P.G.C.R.M)
- Post Graduate Diploma in Marketing and Retail Management (P.G.D.M.R.M)
- Post Graduate Diploma in Retail Management (P.G.D.R.M)
- Post Graduate Programme in Fashion Retail Management
A course in retail management helps one to learn the concepts of retailing, operations and gives practical experience of marketing & sales.
Also Check – Vocational Courses after 12th
Some of the topics related to retail management include:
- Marketing Strategies
- Accounting
- Business Mathematics
- Ethics and Law
- Customer Relation
- Visual Merchandising
- Merchandising
- Retail Communication
- Mall Management
- Retail Buying and Operations
Eligibility Criteria
Candidates applying for the retail management courses, must meet the following eligibility criteria:
For Undergraduate Courses
- The candidates must have completed 10+2 (any stream) from a recognized board.
- A minimum of 50% aggregate marks (varies by college/university).
- Some institutes may conduct entrance tests or consider scores from exams like CUET, SET, NPAT, IPMAT.
For Postgraduate Courses
- Candidates must hold a Bachelor’s degree from a recognized university.
- A minimum of 50–55% aggregate marks in graduation.
- The admission is usually through entrance exams like CAT, MAT, XAT, CMAT, GMAT, etc.
In top B-schools, candidates have to go through Group Discussion (GD) and Personal Interview (PI) rounds.
For Diploma/Certificate Courses
- For diploma, candidates must hold a Bachelor’s degree in any stream.
- For certificate programs 10+2 qualification is normally required.
Admission Process
The admission in UG courses is done on the basis of entrance exams conducted at university or national level.
Most universities accept CUET UG exam for admission to the bachelor’s program and CUET PG for admission to master’s courses.
The admission in management programs like MBA in Retail Management or PGDM is done on the basis of CAT, MAT entrance examination.
Some private universities also conduct their own entrance exams for admission to various UG and PG courses.
Skills Required
To successfully run a retail business candidates have to be very professional in their work and having good interpersonal skills makes the job easier.
To be successful in the retail industry, candidates must possess some of the key skills like analytical mind, leadership, friendly/helping nature and positive attitude.
In addition to this candidates must have good communication and problem solving skills and a knack for convincing people.
Top Colleges and Universities
Top Institutes for Retail Management courses in India are:
- Indian Institute of Management (IIM) – Ahmedabad, Bangalore, Calcutta, Lucknow
- National Institute of Fashion Technology (NIFT), New Delhi & other campuses
- Indian Retail School, New Delhi
- K.J. Somaiya Institute of Management, Mumbai
- Birla Institute of Management Technology (BIMTECH), Greater Noida
- Centre for Retail, Footwear Design & Development Institute (FDDI) Govt. of India.
- Symbiosis Institute of Business Management (SIBM), Pune
- Welingkar Institute of Management (WeSchool), Mumbai
- Amity School of Business, Noida
- Pearl Academy, New Delhi & other campuses
- ICFAI Business School (IBS), Hyderabad
Career Scope and Job Opportunities
India is one of the major fastest growing economies in the world. With a population of nearly 1.5 billion and GDP of $4.3 trillion makes India the 4th largest economy.
The Indian retail sector contributes around 10% to 12% of the country’s GDP, making it a significant pillar of the economy.
With the tremendous growth of the economy, retail management has emerged as one of the fastest growing careers in India.
This industry is looking for professionals at all levels, from school passout, to well qualified supply chain and retail management professionals.
Candidates can take jobs depending on their interest, qualification and work experience. The job opportunities are available in various divisions like marketing, sales, accounts, brand management, customer service, supply chain, warehouse management, IT and e-commerce.
One can start their career with specialty stores, supermarket/ malls, factory outlets, franchises, chain stores, dark stores, lifestyle & personal products, furnishing household appliances & groceries stores etc.
Job Profiles
After completing the course, candidates can work in the following job roles:
- Sales Person
- Retail Store Manager
- Assistant Store Manager
- Department Manager
- Visual Merchandiser
- Supply Chain Manager
- Inventory Manager
- Retail Buyer / Purchase Manager
- Merchandising Manager
- Floor Manager
- Sales & Marketing Executive
- Customer Relationship Manager
- Retail Operations Manager
- Business Development Executive
- Brand Manager
- E-commerce Manager
Top Recruiters
Companies that recruits retail management professionals are listed below:
- Reliance Retail
- Aditya Birla Retail
- Future Group
- Eternal (Zomato, Blinkit)
- Tata Group (Trent, Westside, Croma, Star Bazaar)
- Avenue Supermarts (DMart)
- Shoppers Stop
- Spencer’s Retail
- Lifestyle International
- Raymond Group
- ITC Limited (Lifestyle retail & FMCG divisions)
- Walmart
- V2 Retail
- IKEA
- H&M
Salary and Remuneration
The salary of the professional working in the retail industry depends on factors like company, workplace and nature of work.
The salaries of individuals vary with their role and work experience. A sales person in the retail indutry may start their career with ₹3 LPA – ₹5 LPA.
In Managerial roles professionals can expect salaries in the range of ₹6 LPA – ₹15 LPA.
In addition to the salaries, incentives, bonuses and special packages are part of this career and depend on the performance of the individual and the business/retail outlet as a whole.
The remuneration package outside India is also healthy and professionals with good experince can expect a good salary package.
Books & Study Materials
Candidates interested in pursuing a career in retail industry, can refer the following books:
- Retail Management: A Strategic Approach – Barry R. Berman & Joel R. Evans
- Retailing Management – Michael Levy & Barton A. Weitz
- Retail Management: Functional Principles and Practices – Gibson G. Vedamani
- The Retail Doctor’s Guide to Growing Your Business – Bob Phibbs
- Retail Management – S.C. Bhatia
- Retail Management – Suja Nair
- Retailing: Environment and Operations – Jay Diamond & Gerald Pintel
- Retailing Management – Swapna Pradhan
- The Art of Retailing – A.J. Lamba
- Retailing Management: Text and Cases – U.C. Mathur