Retail Management Courses in India

Retail Management is a Management Field which deals with selling of goods and services to consumers. It can also be defined as the timely delivery of goods demanded by consumers at an affordable and competitive price It is also known as 'Retailing'. Retailing entails a direct interface with the customer and the coordination of business activities from the design stage of a product to its delivery and post-delivery service. Retail Management Specialists are generally known as Retail Managers. A Retail Manager is involved in human resources, problem solving, merchandising, monitoring Retail orders and stocks, analysing the supply etc.

Some of its specialized fields are -

• Store Operations.
• Merchandising.
• Brand Building and Channel Development.
• Pricing Management.
• Competitive Analysis and Planning.

Content

The study of this field includes all or few of these –

1. Economic Analysis.
2. Retail Shopper Behaviour.
3. Finance in Retail operations.
4. Retail Brand Management & Selling.
5. Retail SCM & Warehousing.

Objectives

• To actually provide the product which the consumers want without any compromise on quality.
• To be highly professional and proficient at job-on-hand.
• To make consumer durables within the reach of all, through improvement and innovation.

Basic Requirement

Educational Qualification - A candidate opting to enrol for a graduation course in Retail Management should have passed the Higher Secondary or 10+ 2 Examination in any stream. In some Institutes, retail management is offered as a specialised paper with MBA or other subjects. Candidates having a high school graduation or its equivalent, plus two or degree can apply for certificate, diploma or bachelors courses in Retail Management. The MBA in retail Management is more like a specialization than general MBA. Retailers Association of India (RAI), the first independent body of retailers in India, conducts a Common Admission Retail Test (CART) on national basis for admission to Postgraduate Program in Retail Management (PGPRM) offered in 15 B-Schools across India. Candidates applying for CART must hold a bachelors degree with 50% marks. Final year students can also apply. The objective of the test is to assess the candidate's aptitude for retail management education, including Quantitative Aptitude, Logical Reasoning and Consumer Comprehension. 

The participating institutes in CART are :

• Asian School of Business Management, Hyderabad.
• Bangalore Management Academy, Bangalore.
• Chennai Business School, Chennai.
• Chennai Business School, Mumbai.
• C.T. Group of Institute, Jalandhar.
• IFIM Business School, Bangalore.
• Institute of Management and Information Science, Bhubaneswar.
• International School of Business & Media, Bangalore.
• KLE Society College of Business & Administration, Belgaum.
• MERC School of Business and Retail Management, Pune.
• NSHM Center of Management & Development Studies, Durgapur.
• NSHM Center of Management & Development Studies, Kolkata.
• Rustomjee Business School, Mumbai.
• Vasavi Institute of Management & Advanced Studies, Bangalore.

Some of the Institutes providing Retail Management Courses:

1. Welingkar Institute of Management, Mumbai.
2. K J Somaiya Institute of Management Studies & Research, Mumbai.
3. Mudra Institute of Communications.
4. Indian Retail School.
5. Pearl Academy of Fashion.
6. RPG Institute of Retail Management.
7. SP Jain Institute of Management and Research, Mumbai.
8. Birla Institute of Management Technology, New Delhi.
9. Indian Institute of Jewellery.
10. Institute of Technology and Management.
11. Indian Institute of Retail, New Delhi.
12. Symbiosis Centre for Distance Learning (SCDL).
13. Institute of Management Studies, Mumbai.
14. The Retail Academy, Ahmedabad.
15. National Institute of Fashion Technology (NIFT).

Personal Attributes

Retail Management requires multi-skilled candidates. One of the important Attributes one needs to have is is an analytical mind along with good leadership qualities and positive attitude. They should keep themselves updated to the changes in the market and have good know-how of merchandising and advertising. Good communication skills, good leadership qualities, positive attitude, good socialiser and a knack for  knack for convincing people are other relevant skills.

Job Perspectives

Opening up of Mall and Supermarkets is a very glaring example of Retail boom in the Indian Market. The Mall culture has spread overwhelmingly especially in metro cities which. This has laid solid foundation for the Retail sector which is also making it's appearance in small cities as well. Many multinational companies have set up retailing business. Reliance Group, ITC Retail, Aditya Birla Group, Tata Groups Trent & Westside, Macdonald's, Dominos, Levis, Nike, Adidas, Benetton, Sharp, Kodak, Shoppers Stop, Future Groups Big Bazaar & Pantaloons, Apparel Chains, Raymond's, Arvind Brands, Lifestyle International, Spencers etc. are some of the top companies. The business generated by these has created huge employment opportunities for trained Retail Management professionals. Jobs in abundancy are available at all levels, from the school pass out with basic skills, to the well qualified supply chain and retail management professionals. 

Remuneration

The remuneration in the Retail Industry depends up on the company, nature of work and the area where you work. The average starting salary of a Sales Person in the retail industry varies between 7,000-10,000. As one goes up the Hierarchical level one can expect 15,000-25,000 per month depending upon the organisation.

Some Job Types

• Department Managers.
• Assistant Store Managers.
• Buyer Trainee.
• Merchandising Assistant.
• Customer Service Representative.
• Management Trainees.
• Inventory Monitoring Officer.
• Marketing Executive.
• Sales Executive.
• Retail Buyers and Merchandisers.
• Visual Merchandisers.
• Supply Chain Distributors.
• Logistics and Warehouse Managers.

Some Employment Areas

• Advertising Agencies.
• Airlines.
• Insurance Companies
• Banks.
• Multiplexes.
• Shopping Malls.
• Provision Stores.
• Book Shops.
• Cafes.
• Restaurants.
• Tours and Travels.
• Logistic Firms.
• Warehouses.