Introduction

In very difficult and competitive business conditions, the management of supermarkets or hypermarkets is called retail management. This industry has developed a lot in India in the last decade. From creating a new marketing policy to spreading the business in different areas, companies have tried all the tricks to woo customers.

This is an industry that works on the “customer is paramount” paradigm. The next time you go to buy an item of your choice from a hypermarket or supermarket like Reliance Fresh or Big Bazaar, be sure to analyze the discount you get. Today the market is dynamic and the system present here is fully computerized. Gone are the days when you used to bring goods from nearby grocery stores at a high price. Today almost everything is available with a discount. Actually this is the sale season, that too without any reason. Today almost all brands are offering discounts everywhere from their factory outlets to supermarkets to increase their penetration in the market.

Hence, retail management is a subject for which you need to know about all brands, their marketing policy and retail philosophy of winning customers.

Phased process

You will have to pass CAT (Common Admission Test) examination for admission in reputed institutions like IIMs. Similarly, to do MBA from foreign universities one has to pass the GMAT exam.

Some of the best institutes offering courses in retail management are MDI, Gurgaon and NMIMS University, Mumbai. You will have to pass the entrance exam to enroll in them.

As a student, the Retail Management course will give you knowledge of the following topics:

 

Introduction and Concept of Retail Management

• Retail Trends
• Retail Market Segmentation
• Retail Pricing and Merchandising
• Relationship marketing in retailing
• Contribution of information technology to retailing

 

All other subjects are either sub-subjects of these subjects or are related to them in some way.

Debut

Retail management is certainly a non-traditional subject. You choose this subject only if you have the ability to understand the nuances of this field and your inclination is also in the advertisement. After this, just a golden career will be waiting for you.

Is this the right career for me?

As mentioned above, retail management can prove to be a suitable career for those who are interested in useful items, sales market, market segmentation, business diversity, advertising and promotion and market research topics. This profession provides an opportunity to know new companies and their new products entering the market. Here you can start a career as an assistant retail manager where you can be entrusted with the responsibility of managing an entire store. To be successful in this field, your thoughts must have mobility and qualities of team-leader.

What will be the cost?

The annual fee for a course in retail management is 1 to 3 lakhs depending on the choice of college or institute. If you do this course from Tier-1 B-schools like IIM etc. then the fee will be maximum in the range mentioned above. If you choose an international university that offers you the opportunity to study abroad, then its fees may be even higher.

Scholarship

The best option for availing education loan is State Bank of India, which offers loans up to 7.5 lakh. Other banks also provide this facility, but before taking a loan, please know about their interest rate.

Many colleges also provide scholarships to good students, although it is less prevalent in India, but foreign institutes offer full scholarships to students scoring well in CAT or GMAT, although here also you will have to arrange extra expenses like lodging. . Foreign institutes offer scholarships only on the basis of GMAT and CAT score.

Job opportunities

There is a lot of employment in this field for graduate students. You can start your career with a sales executive or you can also become a direct sales manager or marketing manager. You can even start your own business by taking the franchise of a big retail brand.

pay scale

Depending on the volume of work, you can get a monthly salary from 15000 to 25000 rupees as a sales executive or floor manager. Your responsibility here is to manage customers on the floor and help them in shopping.

You can also become a Business Development Manager by going to the corporate level.

Demand and supply

Due to the rapid spread of supermarket and hypermarket business, the demand of people working on the floor and retail manager is always high in the market. Sometimes start-up retail chains recruit freshers from the college or even offer part-time jobs to handle customers in peak hours.

Sometimes these companies also hire 12th pass students with simple marks. However, MBA students are in demand for taxes like business research, market research, pricing and strategy making. There is a lot of retail professionals in India, but still there is a demand for good professionals in this field.

Market watch

Companies like Reliance, Big Bazaar, Vishal Mega-Mart and the recently established Star Bazaar are earning millions of rupees per day by selling products on a large scale. Apart from these, major textile companies find new and innovative ways and make various strategies to sell their products in Westside and Pantaloons, shoes maker Regal, Metro and Bata market.

In this context, summer, spring, winter sales are the major contributors. The rise and fall of the shares of these big companies depends on their monthly and annual sales.

International performance

The trend of supermarkets and hypermarkets in India has come from companies like foreign brands such as Walmart. Modern supplies like companies like Walmart selling their products

The series uses strategies.

Brands such as Ray-Ban, Bose, Gucci and Mango have already entered the Indian market with a view to satisfy high-end Indian customers with their fashionable products. Therefore, there are appreciable employment opportunities in this field for Indian students.

Positive / negative aspect

Affirmative

• Many companies in Germany, US and UK are opening their stores in India every year. As a result, there are good opportunities for job seekers here.
• Generally, the retail system is a very attractive and diversified sector. By working in this field, you will get more detailed exposure as well as the opportunity to meet different types of people every day.

Negative

• Some retail outlets do not give preference to MBA degree holders or students pursuing any other course in retail management, and only give jobs to ordinary graduates, this leads to irregularities in their careers.
• Brands that are not able to do well in the market reduce the volume of their business and cut jobs. These are the biggest risks associated with this sector.

Role and Designation

People employed by various retail companies are mostly called floor managers, floor executives, lobby managers etc. There are positions like Sales Manager and Marketing Manager at the corporate level.

Due to the development of the retail industry, people are able to see many malls, supermarkets, movie theaters and hypermarkets today. Although the products that they all sell are of different types, their basis is the same – winning the hearts of customers.

Leading companies

The top-ten retail companies in India are Shoppers-Top, Westside, Pentaloons, Life-Style, RPG Retail, Crossword, Wills Life Style, Globus, Piramals and Ebony Retail Holdings.

Some tips to get employment

The following are tips for you to get employed in a retail company:

• Create a résumé that shows the art of talking to your customers and excellent communication ability.
• Refer to the awards received in school or college in the resume.
• Apply in at least 5 to 7 companies so that you can make better choices.