Retail Management is the process which enables the customer to obtain their choice of merchandise from a retail outlet. It includes everything from attracting the customer all the way till ensuring customer satisfaction when the product/service is delivered.
For an engineering graduate a popular career option is an MBA. MBA offers many specializations. These specializations are available in the distance education mode as well. You have a choice of finance, operations, marketing, retail management, supply chain management, and MBA in HR courses online. The boom in retail sector has created the demand for management professionals who have specialized in retail management. Though a number of diploma courses are available, the most popular is an MBA in Retail Management can be pursued after your bachelor degree.
You would definitely love to read MBA after Engineering: YES or NO!!!
Here are the top reasons why you should choose Retail Management as your specialization in MBA
1. Booming Retail Sector
The retail sector has witnessed tremendous growth in the past couple of years. Multinational companies have set up base in India, giving a boost to the retail sector. To tap this potential and push the sector to new heights, there is a demand for retail management professionals who can overlook the entire retail process. As per estimates, there are over 2 million retail management job opportunities across the world.
2. Changing Customer Attitudes
There has been a marked change in customer preferences and the way they shop for their personal use. This paradigm shift is not restricted to metros alone, but also in Tier II cities as well. This has put the onus on retail managers to efficiently deliver the merchandise into the hands of the customer.
3. Emergence of big players in the market
H&M, Spencers, Reliance, Aditya Birla, Reliance, Tatas— these conglomerates with diverse business interests are on the lookout for people who have skills ranging from sales to market analysis and inventory management store management along with the customer relationship management. As a retail management professional, you will be endowed with all these skills. Your aim will be to reduce the time that the customer spends to find his choice of product.
Armed with an MBA in Retail Management, you can do multiple roles—retail manager, supply chain distributor, brand manager, warehouse manager, merchandise manager, and analyst.
We are sure after going through this article, you must give a thought on the Retail Management career option!