Retail management is concerned with managing supermarkets and hypermarkets in rigorous terms of company. In India, there has been a huge upsurge in the retail industry over the previous decade. Companies have attempted all gimmicks to impress the client from embracing fresh marketing strategies to diversifying into businesses. This is an sector that obviously operates on the “Customer is King” paradigm. The next time you enter a Reliance Fresh supermarket or Big Bazaar to purchase a commodity of your choice, attempt to evaluate the different discount rates available.

These days, the systems are extremely quick and vibrant and fully computerized. Unlike in the past where you had a grocery store or a Kirana store that sold you products and commodities at greater rates, now almost everything comes for a discount! It’s the season of sales for no good reason! Some brand or the other would give you discounts to beat and win the contest right from factory outlets to supermarkets. Retail management is, therefore, a topic that needs you to be fully conscious of the products, marketing strategies and retail philosophies behind client winning.

Basically, you will need to complete the CAT (Common Aptitude Test) to be admitted to renowned schools such as the IIMs or clear GMAT (General Management Aptitude Test) to pursue MBA at international universities. Some of the best retail management courses offered by universities are: MDI Gurgaon and the University of NMIMS, Mumbai. To be admitted to these schools, you would have to appear for entrance examinations.

Pursuing a retail management course as a student would provide you with expertise in the following general fields:
1. Introduction to Concepts and Retail Management
2. Trends in retailing
3. Segmentation of the retail market
4. Retail and merchandising prices
5. Marketing relationship in Retailing
6. Role of IT in Retailing

All other subjects are either a subset of these or are associated subtopics. Retail management is, to say the least, unconventional. It is a decision you have to make if you only have the keenness to comprehend the retail industry as well as a tendency towards advertising. It’s going to be an extremely rewarding career, no doubt.

As mentioned above, retail leadership is the correct or better career for those interested in commodities, sales sectors, market segments, business diversification, advertising and campaigning, and marketing research. The profession provides a broad range of opportunities to explore new businesses that are brought to the market and deliver different products. You can begin and operate as a shop as an assistant retail manager. In order to succeed in the sector, you have to be dynamic and a team leader.A retail management course would cost you between 1 lake and 3 lakes per year depending on your choice of college or institute. If you are pursuing the course from a Tier-1 B-school like the IIMs, you will be charged in the range specified above optimally. On the other side, if you follow an international university course that provides you opportunities to travel overseas, the fee would be greater.

The best way to get educational loans is from State Bank of India, which provides up to a maximum of 7.5 lakes loan. Other banks also give educational loans, but you need to verify the interest payback charged. Several universities are offering brilliant students’ scholarships. That’s uncommon in India, though. Although universities overseas provide complete financing for learners who perform very well in GMAT or CAT tests, you still need to be prepared to meet extra costs such as boarding and accommodation. For financing at universities overseas, the GMAT, retail management trainee programs and CAT results are taken into consideration.

There is always a strong demand for floor staff and retail executives. This is mainly due to the ever-expanding company of supermarkets and hypermarkets. Starting retail chains sometimes pick freshers from universities or employ learners for part-time employment to manage market visiting clients. Sometimes the instructional requirement is restricted to just a twelfth pass-marked standard! However, the demand is more on the side of business research, market research, and pricing and strategizing perspective for learners who have finished MBA in Retail Management. The supply is ideal in India, but retail experts are always in great demand. Ethical hacking training in Chandigarh is also an option for budding students.

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