Career Opportunities In The Retail Sector
Retail industry is promising students a wide range of professional opportunities today. The country already has some really successful retail chains and foreign retail majors are also planning to step into the lucrative Indian market. According to a recent survey, the retail sector is currently the second largest employer in the country, after agriculture.
The retail industry demands specialized specific skill sets, and thus, there is a need for trained manpower. The study of retail management is a new and upcoming concept. Today’s retail manager and their staff have to perform in an increasingly competitive environment where the consumer only gets more and more demanding. They have to deliver in an environment where the customer is more information centric. Successful retailers have to, therefore, effectively blend science and art in their day-to-day functioning.
The retail industry offers a variety of job opportunities that includes merchandising and buying, corporate management, inventory control, logistics, distribution, finance, accounting, marketing, sales, public relations and human resources.
The basic requirements for a career in retail are a plus two certification along with proficiency in English and effective communication skills. For higher designations, professionals from every sphere are required. A one-year diploma in retail management (conducted by several colleges) will get anyone a job in any of the retail chains. The diploma course provides a clear understanding of the overall operations and helps students learn how a company coordinates its resources with specific targets.
Students can also pursue an MBA in retail management. The course prepares the student to tackle business challenges, pursue career goals and thereby achieve personal and professional success.
Pay packets in the retail sector are quite attractive. A person with a diploma can easily earn up to Rs 20,000 per month, while for a professional armed with a BBA degree, the figure can easily go up to Rs 40,000 to Rs 50,000 per month.