Here you can understand the scope of retail management as a career and can get list of best retail management institutes in India.
The Indian retail industry is growing at 25 % compound annual growth rate, which provides immense opportunities. The country’s retail industry is expected to grow by 50 % to 675$ billion by 2017, of which organized retail is expected to grow by 300% to 85$ billion. With FDI opening up and international players like Walmart entering the market, the demand for more and more people in the industry is increasing.
Retail Industry in India is growing at a fast pace. It is today recognized as second largest after the agriculture sector in India and fifth most attractive market in the world. Retail future in India for both Global and Domestic companies is very bright. Experts opine, the increasing potential of the market would lead to the employment of over 2 million people in the next 5 years. The government is taking major steps to let this sector grow viably by allowing FDI of 51% in order to fetch investment, technology and global business practices.
Courses in Retail Management
Most of the courses relevant to Retail Industry leading to lucrative positions are available only after graduation i.e. PG Diploma in Retail Management, MBA, Supply Chain Management, etc. Diploma and short term courses are available after 10+2 as well.
Career opportunities after Retail course
Employment opportunities in Retail are not confined to malls and factory outlets alone but it is a field intersecting several other industries at various points and thus has multifarious opportunities to offer right from designing to sales, scouting the location for an outlet to running a mall. In fact, nowadays, with entry of companies like Flipkart, Myntra, Ebay, Amazon, online retailing is gaining momentum in India as most of the companies now offer the facility to purchase their products through online transactions. These companies not only provide ease in purchase but also have a great replacement cell in case the customer is not satisfied which has helped these companies to gain trust of Indian people for online buying.
The skills that are generally demanded from a professional eager to make his/ her career in retail management are:
- Strategic Management
- Merchandise Management
- Sales Workforce
- Store Management