Retail Manager is considered one of the important position in the field of retail management. In the last decade or so with the opening up of the world’s economy and spreading of multinational culture - opening up of the companies like Reliance Fresh , Subhiksha, 6 ten, Spencer etc’s- own retail outlets throughout the world and especially in the Asian countries like India the importance of the professional Retail Manager has increased very much.
There was a time when these kinds of stores could be count on figures leaving hardly any scope for employment opportunities for the young and energetic professionals in the field of Retail management.
These are the professional on whose shoulder depends the reputation of the store as they are the ones who are supposed to maintain the outlook of the store which is very important in the today’s highly competitive world. They are also responsible for maintaining the supply of the merchandise proportionate to the demand prevailing in the market.
Retail Manager Eligibility
The minimum educational qualification for becoming a Retail Manager is both Bachelor’s Degree and Master’s Degree in Retail Management.
Retail Manager Required Skills
- Retail Managers must be able to gauge the psyche of the prospective customer in general and market conditions in particular.
- A trained professional only can run a store in an effective manner. Young and energetic people with a flair for retail management can opt for this career after having the requisite qualification from an institute of repute.
- Retail Managers should have excellent imaginative skills and a flair for creative changes now and then which can help to maintain the novelty of the store forever.
- They should possess skills like enthusiasm, excellent IT skills, numerical skills, verbal communication skills, team working skills, organisational skills, energy, resourcefulness, confidence and commercial awareness.
How to Become a Retail Manager?
To be a Retail Manager one has to undergo one or more of the following Courses-
- Certificate, diploma or bachelors courses in Retail Management.
- MBA in retail Management
- Postgraduate Program in Retail Management (PGPRM)
Eligibility for the courses offered above
1. For Certificate, diploma or bachelors courses in retail management
Educational Qualification
One should be +2 in any stream with 50% for some of the Institute of the repute.
2. For Postgraduate Program in Retail Management (PGPRM) and MBA
Educational Qualification
One should be at least a graduate preferably in a related subject with at least 50% marks for getting admission in the college of repute.
One has to clear written test and interviews taken by various institutions for the admission to 2 years programme of MBA in retail management.
For admission to Postgraduate Diploma in Business Management (PGDBM) (Retail) offered in many B-Schools across India.
Retailers Association of India (RAI), the first independent body of retailers in India, conducts a Common Admission Retail Test (CART) on a national basis. Candidates applying for CART must hold a bachelors degree with 50% marks. Final year students can also apply.
After getting the requisite qualification one can join as an Assistant Store Manager to start with and can climb the ladder of the hierarchy with experience in the field.
Retail Manager Job Description
The main responsibility of a Retail Manager is to plan and coordinate the operations of the outlet he is managing. This responsibility involves the layout of merchandise, monitoring the retail orders and stock, analysing the supply etc.
Retail Manager Career Prospects
A Retail Manager’s job description involves efficient handling and managing routine processes that are carried out in a retail outlet. He is responsible to manage the product inventory, salespersons, goods for display, sales, etc. Retail Manager along with HR managers holds the interviews of the employees to get the best out of the aspiring lot.
Retail managers are also supposed to impart basic training to the new employees and salespersons besides being a motivational force for them.
The retail manager also coordinates with the advertising manager to prepare and implement various plans and advertising policies to attract new customers towards their business.
In nutshell, it can be said that a retail manager job description is dynamic as it keeps on changing as and when there is a growth or development in business with the only aim of increasing store profits and providing satisfactory service to consumers.
Retail Manager Salary
With the widening of the network of the various multinational companies retail outlets throughout the world, there is a many-fold increase in the demand of these professionals. Thus there is great scope for the Retail Managers in the immediate future.
As far as salary/pay/wages are considered afresh Retail Manager can get anything between Rs.8,000 to Rs.10,000 although this salary varies according to the organization one is joining. After gaining some on job experience one can expect as good as Rs.25,000 to Rs.30,000 in the multinational retail outlet and even get more than that depending upon individuals experience and abilities.
