Retail is the fastest growing sector in India today. With many big players setting foot in the industry, the sector is bound to grow manifold. The growing number of shopping malls and departmental stores has thrown up endless job opportunities in India and abroad. Industry insiders estimate a growth rate of 30 to 40 percent in India in the retail sector and there will be a requirement for an estimated 80 lakh trained professionals.
Hence, it is an opportune time to join a course in Retail Management and bag a job in this promising field. Recognizing the demand for skilled professionals in this field, many institutes have started courses and training programmes at the undergraduate and post graduate level to create skilled manpower for this industry. Here’s all the information that you may require on courses in retail management.
The retail sector is now more organized and efficient. The retail revolution has changed not just the urban lifestyle but also the lifestyle in small towns. Thus, for a retail management graduate, there are opportunities galore across the country in the books and publishing industry, music stores, multiplexes, shopping malls, garment industry and also in the processed foods industry. Somebody opting for a graduation course in Retail Management should ideally have passed the Higher Secondary or 10+ 2 Examination.
The curriculum on retail management is a very comprehensive one and includes detailed information on supply chain, marketing information, finance management, accounting in retail, retail brands, business communication, psychology of retail shoppers, electronic retailing merchandise management, marketing and business communication, sales promotion with public relation ,inventory, customer relationship, business ethics, management and organizational behavior, quantitative methods in retailing.
In the retail industry, the biggest demand is for an efficient retail manager. After that, there are positions such as inventory manager, shopping operational manager, floor manager and personnel for customer service. The related options are in human resources, finance and system management.
There are many institutes that offer retail management courses. One such institute is Welingkar Institute of Management Development and Research, Maharashtra, which offers a two-year specialized course in retail. The other course offered by the institute is a postgraduate course. The institute promises campus placements at various retail stores like Pantaloon, Shopper’s Stop, Globus and Westside.
Birla Institute Of Management Technology based in New Delhi offers a two-year Post Graduate Diploma in Retailing and Merchandising Management (PGDRMM). The course offers training in retailing and merchandising management with a blend of industry interaction. One has to qualify the CAT, MAT entrance examination and then clear an interview round to get admission. The institute also provides hostel facility. There is an active campus placement programme.
The course syllabus includes Retail concepts & Environment, Marketing Management, Merchandising Management, Business Communication, Retail Store Management and Research Methodology
Down south, the Madurai Kamaraj University has come up with new courses in retail management to be offered through its Directorate of Distance Education. The new courses include Postgraduate Diploma in Retail Management, Master of Business Administration in Retail Management and Bachelor of Business Administration in the same specialisation.
In Mumbai, the K J Somaiya Institute of Management and Research offers a Post Graduate Diploma in Management- Retail. It is a full-time two year course and covers a wide range of topics relating to general management , Retail Management , operations and soft skills along with hands on experience in the offices/outlets of Pantaloon Retail (India) Limited.
Some of the other institutes offering retail management courses in India include Asia-Pacific Institute of Management, New Delhi, Indian Retail School, New Delhi, SASMIRA, Mumbai, Garware Institute of Career Education and Development, Mumbai, Pearl Academy of Fashion, New Delhi, Mudra Institute of Communications, Ahmedabad, Retailers Association of India, Mumbai, Kohinoor Business School, Khandala and Apeejay Institute of Business Studies, Gurgaon besides others. Then, there is Metropolitan Institute of Management in Pune, The Retail Academy in Ahmedabad, The RPG institute of Retail Management in Chennai, Ebony Retail Academy in Delhi and Vidya Institute for Women in Delhi.
Once a candidate has acquired relevant qualification in retail management, he/she can look forward to a blossoming career. The Indian retail industry is set to witness positive changes in recent future. The future of retail business operations in India seems very bright and it can offer rewarding job opportunities. In fact, in terms of job opportunities, the sector may soon surpass other lucrative new generation careers like IT, BPO and hospitality. A person with knack for proper planning, accurate identification of needs, ability to interact with people along with problem solving and quick decision making skills can easily make a successful career in this field. Pleasing manners, resourcefulness and good memory are added assets in this field. There are enough vacancies from the entry level to senior management level.