Jump onto the retail bandwagon

Updated on: Sunday, October 24, 2010

Rated as the fifth most attractive emerging retail market in the world, India is viewed as a potential goldmine for global as well as domestic majors. India’s total retail market is estimated at over Rs 9,300 billion out of which organised retailing is at more than Rs 300 billion and expected to grow at a compounded rate of 30-40 per cent over the next five years. Currently estimated at employing nearly 15 per cent of educated adults, the industry has the potential to employ over two million in the next 4-5 years.

Job opportunities
A career in retail offers a more diverse range of occupations than most other industries…

* Sales: Every retail store depends upon a sales force to sell its merchandise. This position is an entry-level one.

* Store Manager: They are responsible for managing an individual store.

* Retail Manager: The role of the retail manager involves understanding the mindset, habits and lifestyle of the customer. This involves determining the layout of merchandise, monitoring stock levels, placing orders for new stock, managing the supply chain and keeping and analysing records of all financial transactions.

* Retail Buyers and Merchandisers: They are responsible for selecting the merchandise for a store and then physically buying the goods.

* Visual Merchandisers: Retail designers or visual merchandisers give the brand a face.

* Supply Chain Distributors and Logistics and Warehouse Management: This area is normally the differentiator between modern chains, more so when it comes to perishable goods retailing.

Courses
Though there are a number of courses available for related fields like visual merchandising and logistics and supply chain management, there are no organised professional courses on retailing in India. The ones that are there include courses by the Indian Retail School, run by the Pearl Academy, and the diploma in Retail Management offered by K. J. Somaiya and Welingkars in association with Pantaloon Retail. The courses include undergraduate programmes in retail entrepreneurship, retail buying and merchandising, store operations management, retail marketing and customer relationship management, visual merchandising and space planning, supply chain management and PG programmes in retail management.

How to prepare
The retail industry is a customer-oriented one and the success of any retail outlet is directly related to the quality of the manpower. Prospective candidates should be responsible, have problem solving abilities, be able to take quick decisions and be creative. They should also have good analytical skills, never-ending enthusiasm as well as boundless energy.

Are you game? Yes? Then why not hop on to this bandwagon!

Jump onto the retail bandwagon

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