Introduction to Career in Retail Management
Retail industry is one of the fastest changing industry in the world, thus requires experts or professionals to handle it. It is also one of the booming industries which always have a scope business. This increases scope of career in retail management.
What is Retail Management?
Retail means ‘to cut a piece off’ or ‘to break bulk’. That is in retail industry business is done by selling products or services by making it into small units which can be consumed by individuals or families. So, it is a people-oriented industry which are in direct contact with consumers and their demands. Consumer behavior, demands, requirements are changing regularly. Thus, retail management is a that management which deals with all such activities from design stage of product to its delivery and post-delivery service. Since it is wide spread and people-oriented sales, it offers wide scope of employment.
Roles and Responsibilities of Retail Management Personnel
Role of retail management personnel are different based on position and work they are involved in. All the roles are directly or indirectly related to selling products and services to consumers. It varies from product design to its delivery and post-delivery services. Also, from setting or planning products presentation to direct sales and services.
Educational Qualification Required
Basic educational qualification required for retail management career are different for different positions. Sales personnel requires basic education but manager level requires MBA. A specialization, certificate or diploma in retail management is an added advantage in developing a career in this field.
Skills and Knowledge Required
Other than basic knowledge and education, one must have learned the concepts of retailing, marketing strategies, basics of accounting, consumer behavior patterns, ethics and law, supply chain management for success in this career.
Along with knowledge, they must have some skills like communication skills, leadership skills, problem solving skills, analytical mind, persuasive skills, sales skills, self-confident and adaptive to situations, creative skills, etc.
How to become a Retail Management Professional?
To become a retail management professional, one must have to obtain required educational qualification. For higher positions or specific positions, one must obtain required higher qualification in the field. There are many business schools that offer specialized MBA in retail management or specialization in retail management. Admission to these schools are mainly common as that of other MBA admissions. Some schools have their own special admission procedure.
Developing skills required for retail management is important developing a career in this field. Diploma or certification courses in retail management will always help in developing required skills.
Different Jobs in Retail Management
Retail management career offers different job opportunities to many. Some of the job profiles are as follows:
Store Managers / Store General Managers
Area / District / Regional Managers
Retail Buyers and Merchandisers
Supply Chain Distributors
Logistics and Warehouse Managers
Where do I get the Job?
Many multinational companies and local companies are offering enough opportunities in the field of retail management career. Number of retail stores are increasing day by day and jobs are also creating in these stores in different positions. Jobs are available in different places like specialty stores, malls, factory outlets, supermarkets, discount stores, franchises, house hold appliance stores, agencies, etc.