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Retail Management Career

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. A store manager is the person ultimately responsible for the day-to-day management of a retail store or supermarket. All employees working in the store report to the store manager. A store manager typically reports to a district or area manager, but in smaller businesses, may report directly to the store's owner. In some stores (typically big box retailers), a Store Manager may be called a General Manager or Store Director.

Eligibility for Retail Management Career

Educational Qualifications:
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.

Personal skills:
Analytical mind Good leadership qualities and positive attitude. Good communication and problem solving skills Knack for convincing people and the ability to mingle with people at varied levels. Self confident Apdated with the changes in the retail market Patience Interest in sales work A neat appearance

Job Prospects for Retail Management Career

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. Manufacturing companies also recruit retail managers to reach out to the customers directly. Banking, finance and insurance companies also need professional retail managers to bring their products directly to the customer. IT and IT enabled services companies particularly in the field of telecommunication also require large numbers of retail mangers considering the recent boom in this sector. Besides these education and health care industry also absorb a large number of retail managers. Retail Management graduates normally start with a salary of Rs 20,000 to Rs 25,000 per month in private sector. With some quality experiences in retailing one can easily reaches up to 6-figure pay packages. Retail graduates from reputed institutes even touch 7-figure mark with 5-7 years of experiences.