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Career in Retail Management

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 or store manager is mainly service oriented career that involves a direct interface with the consumers. Retail managers are responsible for the commercial success and the day to day activities of the shop, supermarket or store. Among other duties they organise staffing, check and maintain inventory levels, ensure goods are displayed effectively and deal with customer complaints. All employees working in the store report to the store manager and a store manager  reports to a district or area manager, but in smaller businesses, may report directly to the store's owner.

Depending on the size and type of retail outlet, a variety of retail managers may be utilised, including the following:

In large stores, there may be a team of several managers, each one responsible for their own department, with a single store manager in overall charge. A variety of retail managers may be utilised, including the following.

Store Manager-The Store Manager  is responsible for all the day to day activities of the store or showroom. His work is to check the stock or inventory, manage store revenue including cash handling, deposit reconciliation and delivery of deposits to bank.

Sales and Merchandising Manager- Reporting to the store manager; the Sales and Merchandising manager is responsible for a particular product.

Departmental Manager/ Supervisors- In large stores, there may be a team of several managers, each one responsible for their own department, and a general manager with overall responsibility. Departmental managers are also called Supervisors or Charge-hands depending on the organisation.

Eligibility for Retail Management
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 (Retail Management) students have to crack all India entrance tests like CAT, XAT, MAT etc.

 Personal skills: 

  • excellent communication and interpersonal skills
  • strong customer focus
  • ability to work under pressure and to tight deadlines
  • effective influencing and negotiation skills
  • analysing and problem-solving skills
  • commercial awareness
  • flexibility
  • strong time-management skills
  • attention to detail
  • analytical mind good leadership qualities and positive attitude

Remuneration
Starting salaries range between Rs.17,000/-  to Rs. 25,000/-approx but depending on the organisation can vary significantly. With experience, salaries can rise to Rs. 34,000/- to  Rs.60,000 approx. even more in supermarkets.

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