Career in Retail Management
The organized retail sector in India is poised for an emphatic phase of growth. It’s ushered in the mall culture and diversified the entire experience of shopping, giving rise to a phenomenal boom in the retail sector. Retail management is one of the fields in the management arena focusing on merchandizing, which means purchasing the goods offered for sale, and selling goods to the consumers for personal or household use.
A good understanding of consumer behavior, excellent customer service skills, readiness to take up challenges, capability to move often from one task to another using different skills and a deep interest in coordinating data and resources are essential aspects required to do well in these professions.
What they teach at the Retail Management Course:
The various Degree and Diploma level programmes available in retail management like MBA (Retail Management), Post Graduate Diploma Program in Retail Management (PGPRM) and Diploma in Retail Management (DRM).
The course is the traditional mix of management modules focusing on management principles, finance, marketing and human resource development, information systems, law, and business economics. Specialized modules on retail branding, Customer Relationship Management, Logistics Management, Strategic Management for Retail Industry, visual merchandising and retailing, International Retailing, Legal Aspect of Business — Retail Sector and so forth are taught at the course.
Bachelor’s Degree (10+2+3) in any discipline from a recognized University with minimum 50% marks in the aggregate. Institutes either conduct an entrance test or accept test scores of leading institutes. Institute Entrance test scores or scores of leading management exams such as CAT/ATMA/GMAT/GATE/XAT are also accepted.
Duration of the course:
Most courses are for duration of 1–2 years and are either fulltime courses or can also be part time.
Specialized Management Exam:
- Name of Institute Course Duration Name of the Course
Welingkar institute — 2 years — PGDM : Retail Management
- National institute of retail management [NIRM] — 2 years — Masters in Retail Management
- Indian Institute of Business Management and Studies — 6 months — Advanced diploma in Retail Management
- Chetana’s Institute of Management and Research — 2 years — PG Diploma in Retail Management
- Jankidevi Bajaj Institute of Management Studies — 2 years — Master of business administration [Retail Management]
These are the top 10 retail companies in India: Shopper’s Stop, Westside, Pantaloons, Lifestyle, RPG Retail, Crossword, Wills Lifestyle, Globus, Piramals and Ebony Retail Holdings.