LUCRATIVE CAREER IN RETAIL MANAGEMENT

LUCRATIVE CAREER IN RETAIL MANAGEMENT

     – Avinash Bajpai

Career selection is certainly the most crucial decision of every individual. That decision actually lead to our future, where our dreams come true. Hence, one should look forth the most emerging fields. Today, we will discuss about the growth and job potentials in retail sector.

Retail refers to selling of the goods & services in smaller quantities to customers, most often to consumers. Stores at Malls, show rooms, Mom & Pop stores, Kirana stores, Kiosk are the retail formats.

The growing India is witnessing the new formats of retailing. International companies are getting into India for retailing. Organized Retailing has come up as new facet to the country.

Organized retailing, shares 15% of the total retail business. ‘Retail sector secured the growth of CAGR of 15 percent over the last five years, which is much higher than the Indian composite GDP growth in the same period. Online retailers had embarked with the marvelous growth and with enormous growth potentials. With the communication revolution it has spread across the country. Mobile internet and app based shopping have brought the market in the pockets of the people. Even villagers are now well versed with the online shopping’s. It has provided 24×7 convenient retail format. The retail sector business has estimated that of $ trillion 31 during 2013-14 and expected to grow as $ trillion 55 in 2018-19.’(as per the KPMG report-India Retail-the next growth story). International brands like Zara, Mango, D&G, Prada, UCB, Nautica, Puma, etc. along with domestic giants like Tata, Raheja, Reliance, V-Mart and Future group etc. are expanding their stores in metros, Class B cities and class C cities.

Job Profiles

Retail sector has brought huge opportunities for the youth to grow. Many lucrative profiles have emerged in the organized retailing that is highly remunerating as well. There are high demand of skilled human resources as Merchandisers, Fashion Consultants, Visual Merchandisers, Store Manager, Department Manger, Customer Sales Associate, Retail Operations Manager, Retail buyers Merchandiser, Supply Chain Analyst, Customer Care Executive, Warehouse Manager and Business Development Officer etc.

Salary Package

In the initial years, the salary and perks range between 2.4 L to 8.4 L per annum. Remuneration depends upon the qualification, skill sets and experience. Later it grows. The seniors may draw up to 20 L per annum. The professionals working in back end operations may draw higher amount up to 30 L per annum. Yet, the retail professionals working in abroad are paid more. The companies like Land Mark group, Louis Vitton, Armani, Spice group hire the professionals internationally.

                                                           

 Required Skills Set 

Ø  Communication

Ø  Enthusiasm

Ø  Salesmanship

Ø  Knowledge of Merchandising & Effects of visuals

Ø  Knowledge of fabrics & garments  

Ø  Computer Skills

Ø  Politeness & working attitude

Ø  Positivity.

Academic Courses

There are UG/PG degree and diploma courses on Retail are being offered by many universities and institutes. FDDI, Anna University, Indra Prastha University and Amity University are the prominent organizations in retail education. FDDI is the pioneer institute in retail education. Through its eight pan India centers, FDDI offers Bachelors and post bachelor courses in Fashion Merchandise & Retail. Expert faculties and practical industry exposure are provided to students at FDDI. Its biggest strength is 100% placements and industry specific course curriculum.         

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