In India, retail is a fast-paced industry where the Ambanis, Birlas, Biyanis, Goenkas, Piramals, and Tatas have carved out their own niches. In today's India, retail outlets play a significant role in how people buy things. The retail atmosphere of today is characterised by large malls spread out over a large area, bright lights, soft background music, and air conditioning. Not only does this make shopping easier and more enjoyable, but it can also lead to new job opportunities and lucrative jobs for many people in fields such as accounting, administration, finance, human resources, inventory, logistics, management, marketing, sales, security, and storage space utilisation.
A Master of Business Administration (MBA) programme in Retail Management usually takes at least two years to complete.
If you're interested in sales markets, industry diversification, campaigning, advertisement, market analysis, and market segmentation, retail management might be a good fit for you.
Most institutes require students to pass entrance exams such as the Common Aptitude Test (CAT), XAT, CMAT, MAT, or the General Management Aptitude Test (GMAT) in order to pursue an MBA in retail management.
Some institutes that deliver diploma programmes in retail management also hold entrance exams.
To qualify for this course, you must have completed 10+2 or an equivalent qualification.
Topics covered in Retail Management
Introduction to retail management principles, patterns, market segmentation, pricing, merchandising, partnership marketing, and the role of information technology (IT) in retailing may be among the topics covered. Knowing about brands, marketing tactics, and retail philosophies will help you advance in your career.
The four semesters of a two-year MBA programme are typical.
Basic accounting, correspondence, economic analysis, behavioural science, and retailing fundamentals are typically covered in the first semester. Marketing analysis, merchandising management, shopper activity, human resource management, and financial management are some of the topics covered in the second semester.
Strategic management, franchising in retailing, Lean Six Sigma in retail, mall dynamics and real estate management, retail branding, and Customer Relationship Management are common topics in the third semester (CRM).Strategic management, franchising in retailing, Lean Six Sigma in retail, mall dynamics and real estate management, retail branding, and Customer Relationship Management are common topics in the third semester (CRM).
Advertising and sales promotion, rural retail, e-retailing, business contact, and retailing of insurance products and financial services are likely to be included in the final semester. At the end of the course, a project or dissertation might be needed.
Top 10 Colleges/Institutes for Retail Management
1 Amity Business School - Noida
2 Abhinay Institute of Technology and Management
3 Birla Institute of Management Technology
4 Career Care Institute of Management Studies - Bangalore
5 GD Goenka University - Haryana
6 International Institute of Fashion Technology
7 Jagan Institute of Management Studies
8 MICA - Ahmedabad9National Institute of Retail Management
10 Symbiosis Centre for Distance Learning