Retail management is the process of promoting greater sales and customer satisfaction by gaining a better understanding of the consumers of goods and services produced by a company.
Retail management deals with three domains - brick and mortar retailing, online retailing and omni-channel retailing as a career path for management students. Retail Management deals with a number of sub-fields covering store management, commodities, sales markets, market segments, diversification of businesses, advertising and campaigning, marketing research and even e-business. But as the main focus of mainstream organised retailing remains towards brick and mortar stores, the subjects of study usually rotate around store management, visual merchandising, customer relations and sales. Retailing, though as old as business, trade and commerce has now taken new forms and shapes. This is because of new management techniques, marketing techniques and also due to ever changing and dynamic consumer psychology. The people who are specialists in retail management are generally known as Retail Managers. A Retail Manager is concerned with problem solving, monitoring Retail orders, merchandising, human resources and stocks, analyzing the supply etc.
Retail management has become one of the fastest growing career in the industry with the tremendous growth in the economy. Retail Market of India is the most attractive and emerging market in the world. Currently, this field is demanding more number of trained professionals in this filed. It strives to create a new generation of smart retail professional of international caliber and aims to equip them with the best practices being followed across the globe. Retail managers are also required in large number in the field of education and healthcare industries. Retailing business has been setup by many multinational companies, few of them are Reliance Group, Tata Groups, ITC Retail, Big Bazaar & Pantaloons, etc. The business generated by these has created huge employment opportunities for trained Retail Management professionals.
TOP COLLEGES FOR RETAIL MANAGEMENT