10 Things to know about Career in Retail Management
The retail sector is the fastest growing sector in India and the government decision to allow FDI in various forms in retail sector is expected to create a huge demand for more jobs in the years to come. A person who is looking forward to work in retail industry should know the following 10 points about a career in retail management.
If you are really planning to make career in the field of retail then you should have the right disposition and personality. Recruiters in retail industry look for result oriented candidates who have professional attitude, pleasing personality, strong customer service and presentation skills, and good listening skills.
Not only Sales but Beyond
Aspirants of pursuing career in retail management need to understand that it is not only the sales that one has to do, it is beyond that. The person can perform variety of tasks such as managing the store backend operations like vendor management, merchandising, inventory management etc.; managing sales floor, customer service, stores displays, developing and executing sales and promotions, analysing trends in the market, monitoring sales figures and setting future projections, meeting targets, customer handling – complaints, questions and comments etc.
Growth with Experience
The entry starts with the very basic level and career progresses with the experience and learning. So, don’t worry if you are getting a low level entry in retail sector, growth will surely happen for people who are ready to get good exposure.
Post-Graduation in Retail Management – a good payback in long term
Most people think that post-graduation is not required to work in retail industry. But the truth is that it is easy to get entered at the base level without a post graduate degree in retail but companies always give opportunities to employees who have suitable qualification and a well-qualified person always gets good career advancement and growth, promotions, appraisals and salary increments. The knowledge and insights provided at the PG level particularly in Retail Management programme gives you real time application based exposure, planning and strategizing skills, analytical ability, critical thinking, 360O approach to decision making, managerial skills, time and team management; and the list is countless. Sooner or later your qualification will pay you back manifold.
Various Areas in Retail
As the career progresses, you get opportunities to specialize in the area of your interest such as buying and merchandising, visual merchandising, customer service, e-commerce, training and operations, marketing etc. And if you possess a post graduate degree in a specialized area of retail, you can easily get a chance to directly enter the specialized field.
Relocation with Career Progression
With the career progression, company may give you an opportunity to move to a larger store in bigger markets, open a new store in new location, heading a store etc. You never know what’s in store for you!
‘Customer’ is on the Top
In this highly competitive and social media era, no company can take chance to bring down its reputation in front of the customer. ‘Customer is always right’ will always holds true. Seeing this scenario, the store executives and managers face this challenge and have to keep utmost care while dealing with the customer.
Patience is the pre-requisite for retail sector. A retail professional should be patient enough to handle and solve customer queries and doubts.
‘Nine-to-Five Kind of Person’ – Think twice!
The retail stores work for more than 12 hours a day, and the footfall increases after five in the evening, and no off on Saturdays and Sundays. The retail managers are required to work in non-traditional working hours. So, if you are planning to work in the traditional style of work environment, you should think before u leap!
Game of ‘Numbers’
Performance and success in retail sector is totally based on numbers. You need to be fully prepared to handle pressure of achieving sales and other targets. The ultimate objective is to maximize the profits and minimize the costs. Based on the profile you handle, you will be responsible for improving the performance of the company.
Dr. Deepika Saxena – HOD (PGDM-Retail Management)
3, Institutional Area, Sector-5, Rohini
(Near Rithala Metro Station), Delhi-110085.
Tel.: 011-45184000, 45184001, 45184002 Fax. No: 45184032
Website URL: https://www.jimsindia.org