By Admin on May 21, 2019
Retail Management is a process of promoting sales and increase customer satisfaction by consumers’ understanding of goods and services produced. It focuses on imparting theoretical and practical knowledge necessary to understand the dynamics of the retail industry.
It can also be said that retail management is a sub-discipline of management which deals with overseeing the distribution and selling of products directly to consumers, in specific vending points such as shops, chain stores, markets and malls.
A retail manager takes care of everyday operations within a retail store or department store. They plan to promote merchandise, organise employees, handle customer service, and supervise inventories.
Plus, a retail manager is also responsible for client profiling within the store and empathising with their needs in order to adjust product supply and to anticipate demand.
Retail Management - Courses & Duration
Graduates or working professionals who are thinking of pursuing the course of retail management will go through the retail intricacies. Subjects include introduction and concept of retail management, retailing trends, pricing and merchandising, segmentation, relationship marketing and information technology in retailing, etc.
Following program options are available in retail management:
- Certificate course in Retail Management – 6 months
- Diploma in Retail Management – 1 year
- B.Sc. in Retail Management – 3 years
- B.Sc. in Fashion Merchandising and Retail Management (B.Sc-FMRM)
- MBA in retail management - 2 years
- Postgraduate diploma in retail management - 1.5 year
- Postgraduate diploma in retail management distance education - 1 year
- M.Sc. in Fashion Merchandising and Retail Management (M.Sc-FMRM) - 2 years
Retail Management - Eligibility criteria
Students have to meet the given eligibility criteria to pursue a retail management programme.
- Students must have passed 10+2 examination in any stream.
- Bachelor degree holder / Graduate in any discipline from a recognised University.
- International / SAARC Graduate from a recognised / accredited University /Institution.
- Students who have appeared for the final year of examination of their bachelor's degree program and are awaiting results can also apply, subject to completing their bachelor's degree program/graduation within the period specified by the college.
Job opportunities in retail management
During the past few years in the retail sector, the demand for skilled professionals has increased tremendously. Retail management can be the best career option for those who have an interest or experience in interest in merchandise, market & marketing, sales, advertising, campaigning and market research.
Retail management is concerned with problem-solving, analysing the supply, monitoring retail orders, merchandising, human resources, etc. Students might also get a chance to work in manufacturing companies as a retail manager to help the customers about the products.
Apart from being a retail manager, an undergraduate or postgraduate diploma in retail management holder can also get employed as the following:
- Asst. Department Manager
- Bank Relationship Asst. Manager
- Head Retail Operations
- Key Accounts Manager
- Retail Account Manager
- Retail Banking Officer
- Territory Business Manager
Aspirants may also get the opportunity to work with multinational retail chains as in client communication, sales, supervisory, merchandise shipment, management & administrative services.
Some of the renowned companies offering lucrative jobs in this sector are:
- Future group (Pantaloons)
- Raheja group (Shoppers’ Stop)
- Aditya Birla group
- ITC retail
- Lifestyle international
- Reliance Retail
- Tata group
Symbiosis Centre for Distance Learning is one of the best and largest autonomous distance learning institutes in India approved by AICTE.
PG diploma in retail management at SCDL will train you to hone your skills in service operations, consumer behaviour, sales management, marketing management and supply chain issues, and lead you towards a successful career in the retail industry.
The retail sector is growing in leaps and bounds with the major global retail chains entering Indian markets. With the opening of various shopping malls, departmental stores and supermarkets career in this field will definitely take a profound shape.