PGDM - Future of Retail Management
Why should you pursue a retail management course?
Retail is the ground point interaction between sellers and buyers. This is a crucial communication point where there is convincing, negotiation, awareness, and end decision of every buyer. Without a doubt, retail management is set to grow with increasing brands and start-ups across the country and worldwide.
The pandemic has changed the game of retail management because technology is shaping the future of retail management. But the aftermath looks convincing because the world leaders know that retail will thrive, and 2022 statistics prove the same.
Many believed retail will vanish due to the upsurge of online shopping but the retail of any sector or industry will continue to grow. The online sector has created more awareness around products and brands making a lot more customers walk out of their houses to try out new things.
The startup culture of our country has picked up to an astonishing speed making the D2C (direct-to-customer) services a big hit again.
Without a doubt, retail management courses have also gained momentum in the past 2 years.
If you are looking out for a retail management course but are still confused, read this blog to understand a few more parameters of retail.
Data Driven
Retail management has set to become data-driven and will use AI tools and management software to make tracking of data easier. Data will empower retail to bring the best results working on the statistics that are provided with systems.
All the business operations, sales, and customer retention rates will be provided with data tools making retail a data-centric industry.
All the retail management courses have now included the best studies of data and statistics making it more lucrative for the modern world. ITM offers a different study for retail management students making it a demanding course.
Customer Experience Skills
The world has moved to an aesthetic consciousness making the customer experience one of the key drills of retail.
So all the skills required to maintain and enrich customer experiences like lively interaction, great ambience, convenience, waiting time, and other factors make a complete experience.
Hence, students should be able to map out an experience chart and note points for improvement in any industry and product.
Retail management courses train you for every industry making you a fit anywhere in the world according to your preference.
Social Intelligence
Social intelligence is learning algorithms and working on every social platform used by your ideal customer. The social game changes every day and the ability to anticipate, strategize, execute, and test it out is a challenging task.
Retail management courses not only train you to be efficient in the field but also on the digital platforms that are used by the ideal customer range.
The need for retail management professionals will keep increasing in the coming few years.
Branding
The retail management course at ITM gives the utmost importance to branding. It is extremely important for every retail management student to be aware of branding. The knowledge of branding will position the store or product in a way that attracts the right customers and makes it easier for conversion.
Hence, the study of branding with modern technologies and traditional methods is included in the retail management course at ITM.
Salaries for Retail Management
The salary graph is growing with each passing quarter for retail management courses. The course opens opportunities in various fields. Students can apply for foreign companies with this degree. Countries like Canada, the United States of America, and a few more accept foreign students for retail management.
The salary package can vary for students from 4 lacs to 15 lacs depending upon performance and experience. If you are selected for overseas opportunities, it is a completely different ball game in terms of compensation.
If you are looking for a lucrative career option with creativity yet a good salary, then retail management can be a good bet.
Retail Managers are a future investment for businesses.
Business owners across the globe believe that retail managers are an important business investment. Candidates with a retail management course degree make a business future-proof with their strategies and outlook. Hence, it is smart to invest in retail management students.
Retail managers become the face of the store or brand because they are first-hand interaction with every customer. They build strategies to retain customers with different brand funnels, campaigns, awareness polls, content strategies, and a lot more.
The abilities of a retail management student with proper learning and training from a course can completely change the business revenue.
Now you can understand why a retail management graduate is needed by every brand and business. The above-stated facts stand true for your career. This will help you to make an amazing choice by enrolling in a retail management course and transforming your career.
Why should you consider retail management at ITM?
- ITM offers a combined course for retail management and marketing making you an indispensable asset for any company.
- Business incubation centre
ITM gives you the opportunity to experiment with your own business ideas with all the assistance from the business and professors. This will lead you into the start-up culture and build entrepreneurship qualities in you.
You can start your own start-up and set into the market as a business owner.
- 10 days business excursion to Singapore to give global exposure. This will help students to build broader thinking and adapt to business cultures across borders.
Who can Apply?
- Must have a graduation degree with at least 50% aggregate marks in the examination.
- Students must qualify for one of the MBS entrance exams. The exams include CAT, XAT, CMAT, GMAT, MAT, ATMA, State CET tests & NMAT by GMAC where applicable, and as per AICTE guidelines.
How to Apply?
- You can check out the itm.edu website.
- Look for ‘retail management and marketing specialization and follow the page.
- All the admission processes are mentioned on the site.
- Provide all your documents for verification.
- You will be further called for micro presentations and personal interview rounds at the college.
- You will get a call if you clear all the rounds.
ITM’s retail management and marketing course will transform your life and career.
All the best.