Dr. Satya Prakash Pandey

In the Information, Communication & Entertainment (ICE) age shopping has become a hobby for the new generation. The whole concept of shopping has altered with time, in terms of format and consumer buying behaviour. Thanks to rapid urbanization and sprawling shopping malls, Multi formats of retail stores and huge complexes that have emerged at an ever increasing speed in every upcoming city, retailing has grown into one of the largest sectors in the global economy.

    Retail Industry, one of the fastest changing and vibrant industries in the world, has contributed to the economic growth of many countries. The term ‘retail’ is derived from the French word retailer which means ‘to cut a piece off’ or ‘to break bulk’. Retailing is a vital part of the business industry that involves selling products and services to consumers for their individual or family use. Retailing can also be defined as the timely delivery of goods demanded by consumers at an affordable and competitive price. It is a vertical and people-oriented business industry. Retail business in India boomed in the 80’s and within a short span of time, Indian retail sector has been rated as the fifth most attractive, emerging retail market in the world. Indian retail sector which account for over 10 percent of the country’s GDP (gross domestic product) and around eight percent of employment, is expected to grow at a compound rate of 30 per cent over the next five years. 

    Retailing process involves a direct interface with the customer and the coordination of business activities from the design stage of a product to its delivery and post-delivery service. Generally, retail business can be classified into several types depending on their size, shape, product lines, amount of service they offer and prices they charge etc. Some among them are specialty stores, supermarket/ malls, factory outlets, franchises, chain stores, discount stores, lifestyle & personal products, furnishing household appliances & groceries stores etc.

    With the tremendous growth of economy, retail management has emerged as one of the fastest growing careers in India. The enormous expansion in the retail sector during the past few years has thrown up a big demand for skilled professionals in the field. It is an industry looking for people at all levels, from the school pass out with basic skills, to the well qualified supply chain and retail management professionals. One can take up a job depending on one’s interest and aptitude, since retail industry is an array of activities starting from marketing to branding. This makes retail profession one of the most demanding careers of the era.

    The working time and atmosphere all depends upon the company one works for. One could start his career as a management trainee, and with hard work and right attitude, could reach the manager posts of different departments. Advertising agencies, Airlines, insurance companies, banks etc are some other areas where one can find jobs, apart from retail shops. One can even start one’s own business and be an entrepreneur.

Job prospects in Retail Sector are: 

• Customer Sales Associate: It is the entry-level post of retail business. But as every retail shop is completely dependent upon the sales they get, this is one of the important posts in this profession. To be a good sales person, one should have good knowledge about the products, the shop, the customers etc. 

• Department Manager / Floor Manager/ Category Manager - These are some of the posts one could handle in the store.

• Store Manager: Store managers sometimes called General Manager or Store Director, are responsible for managing an individual store and its day-to-day functioning. The store manager is in charge of the employees of the store and he himself may report to a District or Area manager or the store’s owner. 

• Retail Operation Manager: It is the duty of a retail manager to plan and coordinate the operations of the outlet. This involves the layout of merchandise, monitoring the retail orders and stock, analysing the supply etc. Candidates with Master Degree can start off as retail managers. 

• Retail Buyers and Merchandisers: They are the persons who select and buy the goods for the retail shop. They should understand the needs of the customer, should be aware of the trends in the market, and should possess great enthusiasm and energy.

• Visual Merchandisers: These people give the brand a face, so they hold one of the very important positions in the industry. Being a part of concept and design one could also be a technical designer, product developer and store planner.

• Manager Back-end Operations
• Logistics and Warehouse Managers
• Retail Communication Manager
• Manager Private label Brands
• Retail Marketing Executives:

    Trained and talented retail management professionals are always in great demand not only in India but abroad also. Big brands have opened retail chains throughout the cities & rural areas that offers huge job openings. A professional with excellent communication skills and a flair for convincing people can be recruited as store managers, customer care executives, merchandise officers, public relations executive and so on, in a multinational company.

Retail Management: Eligibility & Course Areas:

    There are options for taking up a degree or diploma in retail management, for those who choose the career. Various institutes offer courses in retail management such as MBA in retail management, Post Graduate Diploma in Retail Management and so on. Candidates having a high school, graduation or its equivalent, plus two or degree can apply for certificate, diploma or bachelors courses in Retail Management respectively. Retailers Association of India (RAI), is the first independent body of retailers in India.

    A course in retail management helps one to learn the concepts of retailing, which would be helpful for future undertakings as well as practical experiences. Marketing strategies, Accounting, Business mathematics, ethics and law, Customer relation, visual Merchandising, Merchandising, Retail communication, Mall Management and Retail buying and operations are some of the topics related to Retail management courses. The courses will also provide information on merchandising, finance management, electronic retail, supply chain management etc.

    Indian Institutes offering Programmes/courses in Retail Management:

• B.Sc. in Fashion Merchandising and Retail Management (B.Sc.-FMRM)
• M.Sc. in Fashion Merchandising and Retail Management (M.Sc.-FMRM)
• M.B.A. -Retail Management
• Bachelor of Fashion Retail Management
• Post Graduate Certificate in Retail Management (P.G.C.R.M)
• Post Graduate Diploma in Marketing and Retail Management (P.G.D.M.R.M)
• Post Graduate Diploma in Retail Management (P.G.D.R.M)
• Post Graduate Programme in Fashion Retail Management

Personal skills

    Talented, dedicated people, who possess a wide variety of skills, are needed to effectively run a large retail business. In order to excel in the retail profession, it is more important to have personal skills than having professional certificates. The most essential ability needed is an analytical mind along with good leadership qualities and positive attitude. They must possess good communication and problem-solving skills, knack for convincing people and the ability to mingle with people at varied levels. They must be self-confident and always be updated with the changes in the retail market and be familiar with advertising and merchandising techniques. Enthusiasm and creativity will always count able in this career. Apart from these, one should have tact, patience, and an interest in sales work, a neat appearance and the ability to communicate clearly.

Retail Management Institutes

    Many institutes in India and abroad offer several online courses which are exclusively meant for retail Management. Now a days most of the Business schools and Government Institutes offer Retail management as a subject of specialization. IGNOU offers certificate/diploma programme in Retailing with the collaboration of Retail’s Association of India (RAI). A number of institutes conduct industrial training during the time of the course itself, with stipends.

These include

• Centre for Retail, Footwear Design & Development Institute (FDDI) Govt. of India.

Remuneration

    The remuneration in the retail industry depends upon the company, nature of work and the area where you work. The average starting salary of a sales person in the retail industry is Rs 5,500 per month. Depending on various post, the salary range varies Rs.6000 to Rs.22000 per month. The special packages, bonus, incentives offered are part of this career. The remuneration outside India also varies depending upon many factors such as shops, products and places.

About the Author

    The author is Head, Centre for Retail, Footwear Design & Development Institute, Ministry of Commerce & Industry Govt. of India, Fursatganj, CSM Nagar (Formerly Raibareli)
email - satya@fddiindia.com