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Retail Management is the process of bringing customers into a store and helping them obtain the items they wish to buy. It focuses on building customer relationships while making the shopping experience enjoyable for the customers. Do you want to start a career in retail management but are not sure which course to choose? Let us help you to consider some things before jumping into the retail industry.
PGDM in Retail takes advantage of India's abundance of bleeding-edge retail aptitude. It helps satisfy the developing needs for the professionalization by creating managers with useful abilities and scholarly capacity to prevail in this speedy and worldwide business climate. Retail implies the offering of products, administration, and fulfillment for buyers. Management implies the legitimate use of resources. The retail management course is an incorporated piece of production network management. The retail industry has recently started selling merchandise in commercial centers, stores, house to house, and by hand conveyance. Yet, presently, the pattern has changed in the retail market.
About the course
The PGDM in Retail intends to provide students with the complete comprehension of hypothetical and applied parts of RM alongside other utilitarian regions, for example, Marketing, Finance, and E-business. It also aims to prepare students with the research, and scientific abilities essential for an expert management profession in the retail exchange or associated area. The skills and knowledge acquired in this course make the student a profoundly important resource in the retail, marketing, online business, and banking sectors.
The retail management course gives point-by-point information on the ideas associated with retailing and unified areas. It covers both hypothetical and viable methodologies applicable to best practices in the public and global retail business. Students will master significant business abilities, for example, planning, critical thinking, consultancy, and group management. From the actual beginning of the course, students will get the opportunity to gain from retail experts. Field outings will allow us to investigate various sorts of retail conditions and meet rehearsing directors.
To obtain admission in a diploma in retail management, you should have cleared the twelfth grade with an aggregate total of 50 % in any stream. For an MBA you may need to show up for the entrance assessment led by the colleges.
The CAT 2021 (Common Admission Test), MAT 2021 (Management Aptitude Test), XAT 2021 (Xavier Aptitude Test) are a portion of the universal entrance assessments for the management concentrate in any stream. The admission confirmation is done depending on the scores of these entrance assessments.
Occupations and Career
The retail industry is one of the fastest developing businesses on the planet and adds to the financial development of the country. During the last few years in the retail area, the interest in talented experts has expanded. A diploma in Retail management is the perfect career choice for those with an interest in merchandise, marketing, promotions, and statistical surveying.
Job openings are accessible in this field like departmental stores, promoting organizations, supply chains, grocery stores, and so on. Retailing includes immediate communication with the client and organizing the business exercises. The experts in this field are known as Retail Managers.
Which Institute should you choose?
Retail management courses in India can be pursued by one of the renowned institutions. While selecting a college it is important to keep certain factors in mind such as the location, curriculum, faculty, and placement opportunities. Retail Managing and Marketing are great career options for students who are excited to enter the industry as future retail pioneers. This program revolves around shaping the character and personality of students to make them industry-ready.
To become a successful retail manager, you need to enroll yourself in a related course which will teach you some important skills like:
- Effective communication
- Good listening
- Customer service
- Ability to train others
- Being a team leader
- Ability to stay patient
- Strong analytical skills
The retail management syllabus for diploma courses is designed to be in line with the current trends in the retail industry. The available courses in India are as follows:
- PGDM course in RM
- Diploma in RM
- PG diploma in fashion RM
This sector is a vast and dynamic industry comprising a variety of sectors and is home to some of the world’s largest companies. Candidates with a diploma in RM can enter the domain of supervising, administrative services, client communication, sales, management, and much more.
After the successful completion of this course, an individual can opt for one of the following career options:
- Retail manager
- Store manager
- Brand manager
- Customer care executive
- Retail buyer
This field in recent times offers more than 2 million job opportunities worldwide.
Salaries offered to RM professionals-
A fresher in this field can earn an average salary of INR 2 lakhs to 3 lakhs per year. With relevant experience, a professional can earn up to INR 7 lakhs per year depending on the company and job profile.
Who can opt for a RM course?
The eligibility for admission in a RM postgraduate diploma is the completion of a graduation degree in a related field with a minimum of 50% aggregate marks. It can also be followed by a master’s degree or doctorate program at an Indian university.
PGDM in Retail Management has been designed for professionals who are looking to prosper their careers in merchandising, marketing (online and offline), store management, logistics management, and e-commerce.
Retail companies hire employees for the posts like floor manager, lobby manager, floor executives. Whereas at corporate levels, these are hired for the posts of sales managers or marketing managers.
You can start your journey to become a retail manager by enrolling in a retail postgraduate diploma which is designed in conjunction with the industry standards and market trends. On completion, you can run a store efficiently while making it more profitable. Start reaping the benefits by enrolling in a program today!