Careers Retail Management

Careers in Retail Management

Brought to you by

Why should you opt for a Career in Retail?? Retail in India picked up in the 1980s, when the country started to open its economy. Today, the Indian retail industry is evolving at a fast pace. Potential Goldmine-India ranks first in the 2005 Global Retail Development Index (GRDI) released by AT Kearney, and is rated the fifth most attractive emerging retail market. •AT Kearney has projected India’s total retail market to grow at a compounded 30 percent over the next five years. •With the organised retail segment growing at 25-30 p.c.p.a, revenues may triple from the current US$ 7.7 billion to US$ 24 billion by 2010. •The share of modern retail is likely to grow from its current 2 percent to 15-20 percent over the next decade, analysts feel. No wonder a heavyweight like Reliance is planning to do a Wal-Mart in India! •In the next few years, India will see at least two domestic retail businesses attain the magic figure of US$ 218 million in sales.

Why should you opt for a Career in Retail?? Page 3 on Retail… •Wal-Mart is moving a senior official from its headquarters (US), to head its market research and business development functions pertaining to its retail plans in India. •The New York based high-end fashion retailer Saks Fifth Avenue has tied up with realty major DLF Properties to set up shop in a mall in New Delhi. •Mukesh Ambani has announced a separate company, Reliance Retail Limited, which would be 100 percent owned and would invest Rs.25, 000 crore in the retail business over the years. Stores will be set up in phases, and around 1,600 stores will be in place by 2007. •Internet retailing will thrive in the coming decade. •Several 24-hour retail stores would emerge to cater to consumers. Fast Facts

What is Retail??

Retail Philosophy — “By The People, For The People and Of The People” Retailing involves selling products and services to consumers for their individual or family use. As the final link between consumers and manufacturers, retailers are a vital part of the business world. Retailers add value to products by making it easier for manufactures to sell and consumers to buy.  The Indian Retail Sector can be broadly classified into—

Food Retailers Health & Beauty Products

Clothing & Footwear Indian Retail Sector

Durable Goods

Home Furniture & Household Goods

Leisure & Personal Goods

Are you ready for Retail??

Retailing is not just about selling or filling shelves, and by no means are all the job opportunities in the stores themselves. Being a people-oriented business, it is imperative that anybody interested in having a long stint in retail must have the following skills: •Commercial awareness •Self-confidence Top Retailers Worldwide

•Flexibility •Strong time management skills •Team work •Leadership qualities •Communication skills •Analysis and problem-solving skills •Numeric skills •Attention to detail

The Study Route to Retail 10+2

Study Abroad

Study in India

Entrance

Graduation

Entrance

B.Com in Retail

B.Sc in Marketing

GD in Design

B.Arch/ Fine Arts/Interior Design

MBA in Marketing Management

Job

B.A in Retail

Post Graduate Program in Retail Management

Job

MBA in Marketing

M.Sc in Retail Management

Job

Job

Colleges offering Programmes in Retail Management in India West Zone

South Zone

North Zone

A degree specialising in retail provides you an opportunity to build on your keen interests in retailing. It enhances and facilitates development of new skills and knowledge thereby helping you to realise your potential. Rest assured, a degree in retail will not shut opportunities in other careers but it will certainly convince potential employers of your commitment to retail.

Universities Offering Programs in Retail - Abroad Under Graduate Programmes United Kingdom

USA

Canada

Post Graduate Programmes United Kingdom

USA

MBA- Marketing in Retail… According to Mr. Chaturvedi, Director Acme Clothing – Provogue, and an MBA Marketing alumnus from SPJIMR, -an MBA program is more than just education. “The most important thing that an MBA taught me was how to focus and prioritise. The important thing about doing an MBA is how you apply it. As an MBA-you can practice it just as well in either situation: employment or entrepreneurship.” For a successful career in Marketing, one needs to enhance his basic human senses-sight, sound, smell, taste and touch, and also the sixth sense-our Instinct. Though technical skills are important, one must pay more attention in polishing one’s basic human skills like observation skills, as they help to spot an opportunity that can pave the path for success.

Retail—Detail In order to keep pace with the fast growing retail sector, the table below will facilitate a quick understanding of the retail sector - in a nutshell

Careers Options in Retail A career in retail is truly dynamic. Talented, dedicated people, who possess a wide variety of skills, are needed to effectively run a large retail business. Given the growth of the sector, retail management has emerged as one of the fastest growing careers in the country.

“Huge new opportunities are on the horizon and the retail industry sees enormous prospects of growth in India.” - Ms Barbara Wold, International Speaker; Author, Business Strategist; Global Retail and Consumer Guru, USA

Buying & Merchandising

Sales

Work Areas in Retail

Logistics Management Marketing

Store Design & Planning

Information Management

Opportunities exist for those who’ve just completed school with A Levels or equivalent. There are industrial placement students and graduates who join the trade. Candidates from most backgrounds (Arts, Science or Commerce) are accepted. A good personality and favourable attitude will help you in the recruitment process. Whatever your ambitions, you will need a good academic record, commercial flair and plenty of enthusiasm.

Tracing the Career Path in Retail Retailing isn’t just about filling shelves in a supermarket and bowing to customers. Retail graduates can consider a variety of jobs such as mainstream retailing, consultancy, marketing research and advertising, while a few may take up their family business, or even set up their own retail outfit.

Hierarchy of designations in the Retail Sector Hierarchy at the Non-store Retail Operations

Hierarchy at the In-store Retail Operations

Tracing the Career Path in Retail Store Design & Planning

Associate Planner Graduation

Planner 3 years of work experience Graduation

Assistant Store Manager 2-6 years of work experience PG\MBA

Store/Branch/Unit Manager 6-8 years of work experience PG\MBA

Associate Designer Graduation\Diploma in Design

Designer 3 years of work experience PG Diploma in Design

Visual Merchandiser 4-7 years of work experience PG Diploma in Design

Project Manager, Store Construction 4-7 years of relevant work experience PG Diploma in Design\MBA

Buying & Merchandising

Associate Merchandiser Graduation

Merchandiser 2-3 years of work experience Graduation

Merchandise Manager 4-7 years of work experience PG\MBA

Associate Buyer Graduation

Assistant Buyer 3 years of work experience Graduation

Buyer 4-7 years of work experience PG\MBA

Category Manager 8-12 years of work experience PG\MBA

What Retail Pays?? According to Mr. Krish Iyer, MD and CEO, Piramyd Retail, “Till recently, retail was not considered by management graduates as a preferred career option. Things are changing. Salary packages are improving due to the demand for retail professionals.” The average salaries offered to retail professionals by one of the prominent retail organizations in India are as follows:

Some Recruiters for Retail Professionals

Emerging Avenues in the Retail Sector Customer Relationship Management Corporate Planning Trend Forecasting Project ManagementStore Construction

Prominent Indian Retailers Kishore Biyani, Managing Director of Pantaloon Retail (India) Limited

The Evolution of Kishore Biyani1987-88 – He began manufacturing trousers 1988-92 – He got BARE jeans and John Miller in the Indian market 1997 – 2001 -He launched his stores starting with the private label Pantaloons, department stores and then other formats 2006 – Biyani commands over 1.3 million sq ft of retail space

Prominent Indian Retailers

B S Nagesh, Chief Executive Officer,Shoppers’ Stop

Educational QualificationManagement Degree from Banaras Hindu University

Achievements- ‘Retail Professional of the Year’ by ICICI Bank Retail Excellence Awards, 2005

To Summarize… The retail business in India is still highly fragmented. Nevertheless, with global biggies like Walmart, Carrefour, Marks & Spencer, Gap etc. raiding the Indian retail space, coupled with domestic biggies like Ambanis and Mittals giving tough competition, the future looks promising for those aiming to make a career in retail. Also, Retailing is a vertical industry – positions exist from sales floors to the boardrooms. Through its strong linkages with sectors such as tourism and hospitality, retail has the potential of creating jobs in these sectors too.

For further details on Retail Management, refer to

Report on ‘Careers in Retail Management’

HAPPY READING!

Do not forget to mail your feedback to [email protected]