Career in Retail Management

What: Retailing means selling of products and services to the consumers for their individual needs at affordable and competitive prices. Retail industry is one of the dynamic and vibrant industries in the world. They are one of the main sources for the economic development of a country. Retail Management is mainly service-oriented career that involves a direct interface with the consumers.

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.

India is one of the top ten emerging retail markets all over the globe. There are approximately 4.3 million retail outlets spread over the nation, which require about 3.25 million retail personnel at present. With such a huge potential retail management offers limitless job opportunities in supply chains, exporting houses and departmental stores.

How: Retail Management is a professional programme, which prepares a graduate to enter into the field of Retailing. Various Degree and Diploma level programmes are there in retail management like MBA (Retail Management), Post Graduate Diploma Program in Retail Management (PGPRM) and Diploma in Retail Management (DRM). The eligibility for most of these courses is graduation in any subject. For MBA (RM) students have to crack all India entrance tests like CAT, XAT, MAT and many more. Rules and regulation varies forms institutes to institutes for admission into Post-graduate level courses. As regards diploma courses, these are open to all graduates from any background.

Where: 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.

Institutions: (see below)