Career focus: Retail management

The increasing professionalism in organisations has provided a good opportunity to their employees to achieve a career in retailing.

A career in retailing is certainly more appealing than it was a few years ago. The retailing industry offers the opportunity in meeting consumer expectations, increasing value perceptions and providing the right mix of price, product differentiation, convenience, experience and service.

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The increasing professionalism in organisations has provided a good opportunity to their employees to achieve a career in retailing. Retailers are now looking for bright, motivated and capable individuals who can provide the necessary impetus to the industry in response to growing competition and innovation. All this has increased the demand for specialised graduates in this sphere.

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Institutes Institute of Business Studies and Research Navi Mumbai SP Jain Centre of Management in Dubai and Singapore ITM group of institutions at Bangalore, Chennai, Navi Mumbai, Hyderabad Indian Institute of Social Welfare and Business Management Mudra Institute of Communications, Ahmedabad Ebony Retail Academy, New Delhi Indian Institute of Retail (IIR), New Delhi WLCI College, New Delhi

What you need:

A longing for knowledge, passion for interacting with people, acumen for a multi-tasking job, good communication skills, enthusiasm and a creative instinct, analytical and conceptual skills.

Managing a retail organisation is a challenging job. Customer focus, differentiation, innovation and brand management are the buzzwords.

A retailing professional has to play a multifarious role — an economist, a fashion expert, IT manager, financial analyst, good HR manager and a real estate manager apart from being a competent marketing person.

Educational qualifications:
Class XII or graduation depending on the course you choose. Many institutes will place you for a term of internship or on the job training with a business house. Opportunities also exist for individuals who want to be entrepreneurs and start their own outlet or take up a franchisee.

Career opportunities:
Retail organisations, advertising agencies, marketing organisations and market research organisations. Opportunities exist not only in marketing and sales but also in specialised areas — retail finance, merchandising, logistics and store design, retail personnel management, real estate management and visual merchandising As retail consultants in large marketing, franchising and retail organisations. You can start your own outlet or take up a franchisee.

Remuneration:
You can start early by earning as much as Rs 12,000 per month depending on the establishment you work in. At a later stage, and with experience, you can work as a consultant in major companies drawing a handsome pay cheque.