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Last Updated On 21 Apr, 2020
A retail manager or store manager is responsible for every aspect of the day to day supervision of retail outlets/stores. He/she takes care of sales, employees, manages budgets, supervises, maintains statistical and financial records, oversees pricing and resources management. In short, the role of a retail manager is to run the store successfully. He/she is also liable for ensuring that his/her colleagues provide the best customer service. While working on the store floor, retain managers remain constantly in touch with customers and employees.
Candidates should have passed their graduation degree in any discipline with an aggregate of 45% marks from a recognised university/institute.
Candidates are also required to qualify entrance exams like CAT, MAT, CMAT, XAT, GMAT etc.
Candidates holding certificate/ diploma/ PG management course from a recognised university/ institute are also eligible.
There is no restriction in terms of educational qualification. Candidates of any background/stream can pursue a career in Retail Management.
Once you have completed the required qualification to become a retail manager, there are various job opportunities that you can target based on your interest and skills. Choose a job profile that brings out the best in you and boosts your CV to become a Retail Manager.
Following are some job options that you may explore in the retail sector:
Retail Buyer: A retail buyer is responsible for developing, sourcing, and presenting product chains according to its stores and customer base.
Retail Merchandiser: The role of a retail merchandiser is to ensure that the right amount of goods are available in the store and sold at the right price.
Supply Chain Distributor: The role of a distribution manager is to plan and manage the movement of goods in a supply chain.
Marketing Executive: A marketing executive is a person whose goal is to maximise profits by matching the needs of customers and promoting products, services or ideas through the development of sales strategies.
Customer Service Executives: The role of customer service executives is to answer the calls from customers for various reasons/purposes such as taking orders, answering inquiries, providing information and resolving complaints.
Warehouse Manager: Warehouse managers are responsible for maintaining safe and efficient receipt, supervising employees and transmitting warehouses.
Department Manager: A department manager is the one who is responsible for all the tasks of the sales department, supervises the staff and builds strategies to increase productivity.
There are various employment opportunities available in the market for Retail Management. The list of employment opportunities in different areas are given below:
Departmental stores
Education sector
Retail outlets
IT and BPO
Healthcare product manufacturers
Export houses
Manufacturers
Sports equipment and sports gear manufacturers
Financial institutions for marketing
Let's take a look at some of the major companies that have good job opportunities for retail managers:
Pantaloon Retail
Reliance Group
Piramal Group
ITC Retail
Bharti Walmart
Lifestyle International
Aditya Birla Group
K Raheja Group
Tata Groups
Landmark Group
Spencers
The salary of a Retail Manager may differ according to his/her educational qualifications and experience. It usually increases with knowledge growth and time. Here are some relative salary figures for different types of retail managers:
Job Profile | Starting Salary per annum (in INR) | Mid Level Salary per annum (in INR) | Senior Level Salary per annum (INR) |
Retail Buyer | 279,774 | 526,187 | 1,282,223 |
Retail Manager | 178,793 | 489,436 | 998,811 |
Warehouse Manager | 181,739 | 409,319 | 1,067,797 |
Marketing Executive | 134,532 | 247,899 | 491,279 |
Retail Merchandiser | 144,696 | 358,463 | 683,140 |
Department Manager | 223,443 | 335,834 | 542,426 |
Note: The above-mentioned figures are an estimate and may vary from individual to individual and company to company.
To be prepared for a career as a Retail Manager, you will need a professional management degree from a reputed B-School for which you might need to appear for entrance exams such as CAT, XAT, MAT, etc. You may refer to the study material required for preparing for these entrance exams. To prepare for a career in Retail Management, one has to follow the curriculum provided by management institutes.
There are many foreign retail chains from countries such as Germany, the UK, and the USA that are opening stores in India every year. This has generated many opportunities for jobs in the field of retail management.
Generally, the retail systems are very colorful and exciting. People in this industry get the opportunity to have extensive exposure and interaction with different types of people.
Some retail companies hire individuals who are just graduates and do not ask for a postgraduate degree or any specific qualification in retail management. This may lead to inconsistencies in a student’s career.
Some retail chains that don’t perform well in the market usually cut down on their manpower. This a risk factor, which is often associated with the retail business.
In order to become a Retail Manager, applicants need to plan their career from the Class 12 and should have also attained the minimum academic qualification as described below.
Take our test and find out if it suits your strengths.
You could become a Human Resource Manager , a Digital Marketer , an Operations Manager , a Management Consultant , an Entrepreneur after studying P.G.P.M. (Post Graduate Program in Management).
You could become a Digital Marketer , a Sales Manager , a Human Resource Manager , an Entrepreneur after studying P.G.D.M. (Post Graduate Diploma in Management).
You could become a Management Consultant , an Operations Manager , an Entrepreneur , a Human Resource Manager after studying M.B.M. (Master of Business Management).
You could become a Sales Manager , a Digital Marketer , a Human Resource Manager , a Banker after studying M.B.A. (Master of Business Administration).
You could become a Human Resource Manager , an Entrepreneur , a Management Consultant , an Operations Manager after studying B.B.S. (Bachelor of Business Studies).
You could become a Human Resource Manager , an Operations Manager , an Entrepreneur , a Management Consultant after studying B.B.M. (Bachelor of Business Management).
You could become an Entrepreneur , a Human Resource Manager , an Operations Manager , a Management Consultant after studying B.B.A. (Bachelor of Business Administration).
You could become an Entrepreneur , a Human Resource Manager , a Digital Marketer , an Operations Manager after studying B.A.M. (Bachelor of Applied Management).
