A happening sector

Kulneet Suri 

The growing economy has catalysed the Indian retail sector to increase sales and revenue, thereby contributing to its tremendous growth and development in the recent decades. Retailing, as a dynamic industry, is becoming very popular in India, owing to its growth and career prospects. This industry has taken the country by storm and is anticipated to experience a steep growth in future as well. As a result, there is requirement for  ample manpower in this field’s diverse segments, which means, the career scope of retail management is wide and expanding. 

The field

Retail management is all about organised retailing that involves coordinating the business activities and creating direct communication with the customer. It is not just limited to supermarkets and shopping malls, but includes, in a broader sense, everything related to retail operations and selling. The reason why retail management has gained popularity is that it is time-saving and centers its objectives and operations on the customer, helping them procure the merchandise and fulfill their needs satisfactorily. 

With the upsurge in the retail industry, new marketing strategies and diversified business operations are becoming essential to impress customers. To make the process simpler and easier, the role of retail managers is all-important.

Today, retail management has become a fast growing career with attractive opportunities and pay scale. The emerging retail market demands management professionals to have the acumen to understand the gimmicks of the sector and perform diverse business operations accordingly. As a result, management education in this retail specialisation is gradually gaining popularity among aspiring management graduates. 

The retailing industry comprises diverse sectors which include supervisory, client communication, merchandise shipment, sales, management and administrative services. Candidates learning retail management can start their career in any of these fields and take on the job roles such as those of a Retail Manager, Store Manager, Merchandiser Analyst, Supply Chain Manager/Distributor, Marketing Executive, Warehouse In-charge Manager, Customer Care Executives, Department Manager, etc. 

Where are the vacancies

Currently, the retail industry requires trained manpower in great numbers to handle the retail stores, wholesale businesses, cash and carry facilities, and hypermarkets. Candidates with a diploma, bachelor’s, master’s, and doctoral programmes in Retail Management, Marketing, and Sales are given preference in the field as they can efficiently handle the areas such as retail and wholesale sales, product planning, marketing management, market research, small business management, promotion, and distribution. 

Job opportunities are a plenty for the retail management graduates. In fact, the sector offers more than 2 million job opportunities across the globe. The pay scales are also good, depending on the responsibilities and experience of a candidate. On an average, a fresher in retail management can earn between Rs 2 lakh and Rs 4 lakh per annum.  

Courses on offer

To enable the aspirants make the most of this emerging field, educational institutes in India are now offering retail management courses and specialisations at both undergraduate and postgraduate levels.  Retail education aims to produce smart professionals of international caliber, who are equipped with the skills and knowledge of the best practices followed in the industry. 

It is important for students improve their employability skills in the field. 

— The writer is Senior Director, IMS, Noida