Enhance your Business with Retail Management Program

A Story by Digital Ram

Are you in a dilemma about opting for Retail Management Degree? Here is the solution to your problem. Go through the article to know all about Retail Management and why it is a great Career option.

In today's business world, the consumer is the king of the market and the retailers are keen to know the interest in consumers’ requirements. Considering the busy lifestyles of today's consumers, the retailers are now much focused on the management of the retail policies that made retailing an integral part of an economy. Hence, the concept of Retail Management came into existence and so is the importance of availing the Retail Management Degree.

Retail Management comprises of two major terms: Retailing and Management

· Retailing includes all the activities involved in the selling of goods and services to the final consumers either for their business or personal use. A retailer buys a wide variety of product from different wholesaler according to the needs and wants of the consumer and offers its customers the best products under one roof.

· Adding to this is the main term of business i.e. Management. In simple words, Management refers to the art of getting things done through others. Management of business processes is essential to all kinds of organization’s may it be retail or other.

Retailing and Management, together, as Retail management is an activity of selling products and services to the end users. It involves direct interaction with the customer and coordinating business activities from designing the product to its delivery and post-delivery service. We have many Retail sectors as such-

· Food Retail sector

· Clothing and Textile

· Consumer Durables

· Footwear Retail sector

· Jewelry

· Fuel Retail sector

Therefore, a retail manager is the one who addresses the problems of the consumers, monitors retail orders, handle merchandising, manage HR and also supervise the stocks/ Inventory and supply chain management. The job of retail management is a complex job, the personnel is recruited by top MNC's like Dabur, IBM, Hindustan Times, Taj Hotel, Phillips India, Future Group, and many more.

Retail Management Course - A boon for the business.

· Retail Management can save a lot of time for you and ensures that the consumers are able to find their desired product easily and the retailers too are able to satisfy the consumer.

· Retail management programs help in improving efficiency and minimizing data collection errors so as to provide reliable results.

· If an individual has gone through retail management course details properly during his degree, it helps him to excel in a crowd of professionals.

· Retailing, entities involved, the impact of decisions on retail, analyzing the evolution of the retail industry are the main concepts of retail management course which should be learned by the personnel to the deepest.

· A retail manager plans the layout of the store in an effective way which helps the retailers to curtail unnecessary expenditure. Thus, the process is proved cost-effective.

· Retail management helps in improving the KPI’s for the analysis of the business and make profitable decisions.

· Retail Environment Analysis in the course of retail management helps the person to analyze the functioning of its competitors in the environment and make policies accordingly.

· Often retail management uses NAICS codes to determine their direct competitors and henceforth make them do their SWOT Analysis so that they can determine their loopholes and make profitable policies for further business operations.

· There are ample of courses available for being a professional retail manager as such-

o Certificate course in Retail Management for 6 Months.

o Diploma in Retail Management

o B.Sc. in Retail Management

o Integrated Master’s degree in Retail Management

Hence, Retail Management is one of the newest specializations of management study and is an Integral part of Supply chain management and so is the degree.