MBA in Retail Management

The apparent answer to this question is that if you are interested in the retail industry and want to pursue a career in it, you should enroll in this programme. If you wish to change careers and work in the retail industry, this programme is for you.

An MBA in Retail Management provides you with the two most critical abilities for surviving in this competitive industry: communication and business management. When pursuing an MBA degree, these are the two basic yet most significant abilities that you should concentrate on because they will greatly assist you in your career development.

As the retail business expands, there is a significant demand for graduates with a speciality in this field. Companies are willing to pay high salaries to skilled retail managers because there are not enough of them available. With the increasing breadth of this industry, the future is bright, and prospects are expanding quickly. As a result, this programme would be an excellent choice for students seeking to establish a strong career.

Here are certain personalized reasons why students could choose to study MBA in Retail Management:

• Build Interpersonal Skills: MBA Retail Management deals directly with consumers as well other stakeholders, such as suppliers, distributors, franchise representatives, and store managers. It helps them build varying types of interpersonal skills like communication and leadership styles in accordance with the group dealt with.
• All-time Relevant Sector: MBA Retail Management deals with all the methods and measures to ensure a proper and smooth transition of products or services to the final consumer. As consumers cannot be eliminated from the market structure of any industry, so does the retail sector. Retail Management is therefore an area with perpetual opportunities and relevance.
• Huge Industrial Investments: In order to complete the product/service cycle, it has to reach its target consumers. Any organization, enterprise, or entity offering any product or service shall have to make investments in the area in varying ways, like direct supply, online buying, doorstep delivery, franchise stores, retail stores, etc. These settings require huge investments making the sector one of the highly invested areas of any venture. The income is similarly large and raw (as revenue), and MBA Retail Management graduates have a chance to take advantage of the same.
• Wide Scope of Opportunities: Clearly the perpetual relevance and bulky investments allow the MBA Retail Management to explore varying opportunities, not only in hierarchical structure but types of business and ventures they might work for as well. This technicality provides them with a chance to grow in a multi-faceted manner and build a wide range of experience, making it easier to negotiate for higher salaries and job perquisites.
• Scope of Professional Growth: The ultimate goal of any employee is professional growth in a dynamic manner. The wide range of growth opportunities allows MBA Retail Management to ensure the same, that too in varying sectors. It does not matter which sector they start with, they can always switch to a different one, build a career in the exchange or switch again. The profiles of top management assisted from the retail sector showcase a wide experience and hence make them more likely to lead successful business strategies.
  

  Types of MBA Retail Management Courses

  MBA degrees are available in a range of formats, including full-time and online degrees that can be completed from the convenience of one\’s own home. Each MBA programme offers the potential to get a thorough understanding of the business and Retail Management field of study, but which should a person pursue? The following is an overview of the numerous MBA Retail Management programmes available:

  • Two-Year Full-time MBA: A two-year full-time MBA programme is one of the most common MBA programmes. Enrolling in a two-year MBA Retail Management programme helps learners to sharpen their fundamental business skills while delving into specialized topics. The first year will cover core subjects like strategy, communication, finance, and marketing. Students will also be able to focus on themes of their choice during elective modules and focus periods in year two. They will also be able to engage in a summer internship, which can sometimes lead to a full-time job offer after graduation.
  • Part-Time MBA: A part-time MBA Retail Management may be the best option for those who want to study for an MBA but do not want to take time away from their employment. Part-time MBA programmes allow working professionals to create a curriculum that works around their schedules. Students\’ degrees are usually completed over a long period of time, ranging from 2 to 5 years or more. Candidates can also enroll in MBA Retail Management with a weekly schedule of evening or weekend classes to complete the degree.
  • Online MBA: Students can get degrees from the convenience of their own homes, anywhere in the world, through online MBA programmes. Online MBA Retail Management programmes will cover the same topics as traditional MBA programmes and be taught by the same professors. They do, however, provide the extra benefit of a flexible learning environment. Students can complete classes at their leisure and study for an extended time, similar to a part-time programme.
  • Executive MBA: Executive MBA programmes are designed for mid-career professionals who desire to ascend into positions of leadership. Because the MBA Retail Management programmes place a great focus on the experience that each student offers, applicants must have at least 5 years of work experience. Part-time EMBA programmes are usually held in the evenings or on weekends. This enables trainees to continue working while immediately using their knowledge and abilities in their business as they advance.
    

    MBA Retail Management Eligibility Criteria

    MBA Retail Management programmes can be applied for by interested students, albeit they satisfy the eligibility criteria of the colleges and b-schools offering the same. While all colleges design their eligibility criteria independently, there has been observed certain commonality.

    Here are the basic eligibility criteria which students may expect their applying colleges to demand:

    • They must have completed their undergraduate qualification with a bachelor’s degree.
    • The bachelor’s degree must have been obtained from an accredited and recognised institution, or equivalent to the establishment.
    • The aggregate score for the bachelor’s degree must range either in or above 50%-55%.
    • They must provide the entrance exam scores which are acceptable to the respective college or b-school.
    • Their entrance exam score must be equivalent to or more than the cut-off score mentioned by the respective institution to make it to the next round of the admissions process.
      

      MBA Retail Management Scope in India – Career and Job Prospects

      The scope of retail management is vast, and the employment opportunities for someone with an MBA in Retail Management are limitless. There are several work prospects in the retail sector, so one can pursue a variety of careers. As the population grows, so does the number of retail establishments. It has boosted the demand for qualified MBA graduates in the retail sector to manage and generate revenue from these stores. MBA in Retail Management graduates are in high demand in both the private and public sectors. Their tasks can be front-end, such as selling and marketing products or communicating with customers, or back-end, such as CRM (Customer Relationship Management), retail analytics, product development, and so on.

      Furthermore, since the retail business is undergoing multiple big changes, earning an MBA in Retail Management will help you keep updated and tackle the obstacles that may occur as a result of such large developments. An MBA in Retail Management can significantly increase your work portfolio and help you stay competitive in the market.

      Job Prospects

      The retail industry is diverse, allowing learners to pursue a variety of careers after completing the degree. You can choose from the following retail management jobs:

      Job Profile	Job Description
      Retail Manager	A retail manager\’s role is to guarantee that a store\’s everyday operations run smoothly. They ensure that everything is in working order and devise ways to maximise sales while minimising expenditures.
      Store Manager	A store manager\’s responsibilities include finding strategies to boost consumer traffic, growing the store chain, and increasing customer satisfaction.
      Supply Chain Manager	They are in charge of overseeing and strengthening a company\’s product supply chain. They make certain that products reach the market on schedule. They strive to reduce logistical expenses and improve the supply chain\’s efficiency and capability.
      Brand Manager	A brand manager is in charge of establishing market-building strategies for a company\’s brand. When a firm creates a new brand, its success is dependent on the brand manager\’s initiatives, often known as brand guardians or brand builders.
      Product Manager	A product manager is an essential member of any company\’s core staff. He is involved in all stages of product development, from designing new items to bringing them into the market.
      Merchandiser	They are in charge of ensuring that products appear in the appropriate store or website and reach the market at the appropriate time and in sufficient quantities. They manage and plan stock levels, as well as collaborate with the supply chain manager.
      Marketing Executive	They research the market and create marketing plans based on customer wants. These techniques assist the company sell its products, ideas, or services more effectively.
      Warehouse Manager	They are in charge of storage and shipping. They play a crucial role in boosting supply chain efficiency. They ensure that goods are received or sent on schedule to achieve the company\’s goals.

      Top Recruiters

      Many big companies run recruitment programmes to help you get a job easily. Here are some of the top recruiters in the retail sector:

      Amazon	Croma
      ITC Hotels	Philips India
      Reliance Jio	Taj Group of Hotels
      Blue Star	Canon
      eBay	Grofers
      Havells Limited	HCL
      Nestle	Panasonic
      Flipkart	Snapdeal
      Raymonds	HP
      NTPC	Puma
      DHL	Zomato
      GSK Pharma	Future Group