Careers
Retail Management
population through different
channels, in the face of such stiff
competition, requires a lot of
planning and hard work. Leaving
An insight into management careers in the a mark in the retail marketplace of
retail world the 21st century will need skilled
manpower and a professional
- Sunil Shejwalkar
approach. It is not essential to have
an MBA degree in order to get into
retailing according to Kainaz
Retail is the world’s largest private industry exceeding US $ 7 trillion.
Turel, a fresh B-school graduate
There are 47 retailing majors in the global Fortune 500 companies. Wal-
who will join Pantaloons as a
Mart, the best known in retailing, occupies the top position in the Fortune
management trainee. “An MBA
500 list. Even 25 of Asia’s Top 200 companies are retailing behemoths.
degree is not necessary to take up
This is just an indicator of the potential of the sector, which has just,
a career in retailing. However, it
began to make its presence felt in the country. The industry in India is
makes a difference to your
currently estimated at Rs 9,30,000 crore and is expected to grow at 5%
beginning. A fresh graduate would
p.a. The organized retailing market is pegged at Rs 28,000 crore, and is
merely start as a sales executive
projected to grow at 25-30 per cent annually.
whereas an MBA will start off
T
directly in the management cadre.
hanks to this sudden “Organised retailing in India has Also, an MBA degree under your
impetus the retailing the potential of creating over 2 belt boosts your confidence, and
industry has received, million new (direct) jobs within the the concepts taught help you to
Indian consumers are next 6 years, assuming an 8 to 10 plan and do the job in a more
having a gala time. per cent share of organised systematic manner,” adds Turel.
They not only have access to a retailing in the total retail business. The most dangerous thing for
greater number of products but are This emerging scenario clearly a retailer would be to enter status
also witnessing a change in explains the pressing demand for quo. Competition is fierce and
shopping conditions. From small- trained manpower in retail consumer expectancies are
time operators and kirana stores, management.” forever rising. To meet these
India is fast emerging as a land of With
malls and supermarkets. The information
landscape of urban India is fast technology
changing with a new retailing gaining
major setting up outlets everyday. popularity,
Industry sources estimate that in customers do not
the next 2-3 years retail will see $ even have to
200 million investment for venture out of
expansion nationwide, which will their homes. They
result in 15-20 hypermarkets, 25- can view the
30 large department stores, 25-30 catalogues or just
large supermarkets, 750 small-and log on to the
medium-sized supermarkets, and websites to view
1,500 brand chains. The the merchandise
employment potential is available before
tremendous considering these ordering.
projections. Prof. Shobha Rajkarne Catering to
of Welingkar’s Institute says such a huge

Careers
resources departments of retailing logical sequence and helps
firm majors. To put it concisely, maintain records. Store
retail management professionals management will also be expected
get employed in retail to set up a cash register to
management, buying, design, maintain a department-wise
product development, record of sales. It will also entail
merchandising, as well as in planning purchases and analysing
wholesale sales and the sales for all departments.
entrepreneurship management. Retail management involves
creation of a Management
What does Retail Management Information System (MIS) that
entail? will have the ability to breakdown
Retail management is possibly department-wise data of sales.
one of the fastest growing careers. The departmentalisation process
Opportunities in this field are will have to ensure that the work,
soaring expectations, retailers plenty. Departmental stores, cost and time in managing the
will have to improve their Hypermarkets, Designer entire set up does not exceed the
operations, and serve customers Boutiques, Fast Food Chains, accruing benefits. Retail managers
better if they are to increase sales. Super Markets, Exclusive Brand are also responsible for
Retailers will also have to Stores, Book Stores, Music Stores, redeployment of manpower in
provide value-added services, if Electronics Showrooms, various departments from time to
they are to hold on to customers. Multiplexes etc all employ retail time.
Trained management professionals. Organised retail is A person who handles retail
professionals will definitely be in fast encompassing many product stores will also be responsible for
demand as more and more segments like apparel, luxury arrangement of merchandise on
retailing majors set shop here. products, jewellery, fast food, the department floor and taking a
pharmacy, bookstores, music, food physical stock of inventory. A
Who needs Retail Management and grocery etc. Not only closing stock of inventory at year-
professionals? organised retailers but any end will also have to be done for
There is no dearth of industry that interfaces with them every department. The cost of
opportunities for retail will require trained retail products sold versus the profit
management professionals, management professionals. margins will have to be calculated,
especially with large departmental Retail Stores Management is to measure the performance of
stores chains, restaurant chains, chiefly concerned with every department. The reasons
large textiles and apparels departmentalisation and behind success of certain
showrooms and many other retail inventory control. departments and for failure of
chains that are now entering into Departmentalisation is about certain others will have to be
the country to tap the Indian dividing the entire store into analysed. A retail manager should
market. Most of these take in departments. This has benefits as also be able to project futuristic
management trainees in it helps to organise and manage sales in order to avoid stock outs.
merchandising, general inventories better. This will also The reason for stock-outs, if any
management, product increase the profit margins also need to be analysed.
development or buying. Typically, substantially. One way of creating
B-school graduates start off as a departments is to categorise the Career path for a retail
buyer trainee or as merchandising merchandise. management professional
coordinator for a major brand or Departmentalisation also involves
label. Many may also find assigning a stock number to each 1. Management Trainee
themselves handling the human item in the store that follows a Freshers usually start off at this

Careers
business ethics. Along with
the store manager, he will be 4. District Manager
responsible for sales, profits The district manager will have
and image through the a pulse on all stores in that city or
overall development and district, their technology and their
protection of store assets, profit generating capability. This
the training and position is of significance to
development of personnel corporate retail chains, as the
and for proper service to all incumbent is directly accountable
customers. Many of the for directing sales, profits, market
management skills needed share and enhancing the public
are gained due to mentoring image of the stores within the
by the store manager and district. The district manager is
through comprehensive responsible for security of stores
training programmes that assets, operating expenditure and
every retail firm conducts services at the stores. He has to
position where they are trained on for its management cadre. The manage human resource for all
the job and through other company District Manager determines stores falling under his
training programmes to develop whether the executive assistant is jurisdiction, calculate the gross
management and technical skills suitable for promotion to the post income and arrange for proper
necessary to become a good store of store manager. maintenance of payrolls. He is
manager. Management trainees expected to uphold company
work directly under the store 3. Store Manager policies and practices. He has to be
manager and spend time in every The store manager is a visionary who can help the retail
department to learn the day-to-day responsible for improving sales, chain to prosper in his assigned
operations. They undergo profits and public image through district.
adequate training in handling the overall development and
computer systems, besides the art protection of store assets, staffing These are just a few roles that
of maintaining the store and customer service strategies. He management graduates take up
appearance, customer service and will also analyse sales everyday during their gradual evolution in
inventory as per the directions of and be in charge of managing a retail business. Even as retail
the store manager. He is promoted inventory, budgets, purchase of industry embraces diversity,
on the basis of productivity and new merchandise, arrange to career possibilities are bound to
performance. liquidate the overstocked explode. As the industry gears up
merchandise and maximise profits. for changing consumer behaviour,
2. Executive Assistant He designs plans for setting up intense competition and a
The Executive Assistant new technology for improving perennially changing customer
position also involves acquiring operations of the store. The store base, it is very clear that new
the management and technical manager is a source of inspiration strategies will have to be chalked
skills that are necessary to become for his staff. He should be aware out. The retailing sector’s need for
a store manager. An executive of competition, know their management graduates to
assistant will assist the Store strengths and weaknesses and formulate and implement new
Manager in operations and must stay updated on ideas will grow. Therefore,
deployment of the work force, developments taking place in the youngsters looking forward to
direct, coordinate and manage the retail industry. A store manager embark upon a career in the
activities, plans and programmes working for a huge retail chain retailing industry should arm
as per the guidelines of authorised must also be prepared to relocate themselves with an MBA degree
policies, budgets, laws and to another store, if necessary. from a good B-school.