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Importance of MBA in Retail Industry
Store
Manager and Store executives are important human resource
of Retail Industry. They can be graduates in any field
with some experience in Retail industry or they they
can be Professionally trained MBA in Retail. When stakes
are high and when management of big Retail store is
at stake preference will be given to MBA Retail rather
than a graduate.
What
set aparts a MBA Retail from graduate, is his knowledge
about Retail Industry and details of Managing a retail
outlet. MBA Retail grooms an individual to understand
the job responsibilities of a Department store / Supermarket.
The big retailers spend lot of money on in-store marketing
programs that correspond to seasonal and promotional
changes. There is also need to create the look of a
perfectly stocked store, even when it is not. These
challenges are ably handled by MBA Retail as he has
been given training to handle such responsibilities.
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MBA
Skills required in Retail Industry
Key
Management Skills required in Retail Industry are –
- Problem
solving skills
- Communication
skills
- Decision
making skill
- Creative
Skills
These
help Store Manager to keep his departmental store in
good condition.
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Retail Industry in India
India
ranks first in the 2005 Global Retail Development category,
and is rated one of the most attractive emerging retail markets
in the world. The
share of modern retail is likely to grow from its current
2 percent to 15-20 percent over the next decade. International
brands like Wal-Mart, Fossil, Metro are all planning to be
in India.
Some
of the top Business Houses in Retail Industry are -
- Reliance Group
- ITC Retail
- Aditya Birla Group
- Tata Group ( Trent & Westside)
- Shopper Stop
- Futures Group (Big Bazaar, Pantaloon)
- Apparel Chains
- Raymond's
- Arvind Brands
- Lifestyle International
Verticals
in Retail in India Today are Super Market Chains, Mega B2B
Cash and carry store like The German Giant – Metro, Telecom,
Health & Wellness, Lifestyle Stores (Watches, Perfumes, Fashion
Products, Accessories), Apparels, Sports, Jewelry, Fashion
and Foot ware
Online Courses in Information Systems Management
Career Options under Retail Industry
- Buying and Merchandising
- Supply Chain Management
- Marketing
- Sales
- Stores Management as an independent profit centre
- Corporate Planning
- Project Management-Store Construction
- Customer Relationship Management
- Trend Forecasting
Jobs of MBA in Retail Industry
- Retail Store Manager
- Retail Sales Executives
- Counter Sales Executives
- Retail Business Development Manager
- Marketing Manager
- Accounts Manager
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