Retail management is the management of the day-to-day operations of retail outlets that involve the sale of goods and services to customers. It ensures that customers are satisfied with the services and goods they buy and that retail outlets are profitable and run smoothly.
The Indian economy is booming, making retail management one of the most sought-after career paths in the industry. With an ever-increasing need for trained professionals, investing in India’s retail market is a wise decision. There are numerous institutions offering MBA programs in Retail Management to help equip students with the skills and knowledge needed for a successful managerial role within this sector. This curriculum offers an excellent opportunity to produce high quality retail professionals who can apply global best practices.
Retail management is a sub-discipline of management that deals with the management of the distribution and sale of products and services directly to consumers in specific points such as chain stores, shops, markets, and malls. As per Kearney Research, India’s retail industry is projected to grow from USD 779 billion in 2019 to USD 1,407 billion in 2026.
An MBA in retail management can enhance skills in maintaining and optimizing the supply chain, from when a product is manufactured to when it is received by the customer. An MBA with retail management as an elective provides professionals with the required skills and knowledge to excel in various career opportunities.
Considering how urban consumers change their shopping habits, the course emphasizes implementing cutting-edge management practices in the supply chain, sales promotion, customer service, and creating new products and marketing materials.
Students can learn about the changing landscapes of the retail business. They will also understand the mental tools and frameworks they will need to anticipate and capitalize on future trends in the retail sector.
MBA in retail management is a two-year postgraduate course with four semesters. Introduction to the fundamentals, core subjects, electives, and projects make up most of the MBA syllabus. In the first two semesters, MBA subjects cover the fundamentals of business management and the principles that underpin it, and learners will also need to complete the required core courses. Final-semester students have the option of completing internships or completing independent research projects.
Below are the semester-wise details about the concepts covered during the two-year MBA program by Manipal University Jaipur.
Read more: Concepts to learn in MBA retail management
Retail management focuses on brick and mortar retailing, omnichannel retailing, and online retailing. Retail management has many sub-fields, including store management and commodities, sales markets and markets, market segments, diversification, advertising and campaigning, marketing research, and even e-commerce. Here’s why an online MBA in retail management is a great option.
Retailing is a dynamic sector that comprises some of the world’s biggest and most successful companies. After pursuing an MBA in retail management, you can start your career in management, sales, client communication, and other services.
The retail industry is vast and diverse, offering a wide range of career opportunities. With an MBA in retail management, you can explore various roles such as Retail Manager, Merchandise Planner, E-commerce Manager, Inventory Manager and more.
The industry pays well due to an increase in demand for skilled professionals. A few years into their careers, retail management professionals can rise through the ranks and earn higher salaries. Moreover, with an online MBA, you can also explore managerial and leadership positions in the industry.
E-commerce is a rapidly growing sector within the retail industry. Pursuing an online MBA in retail management equips you with a comprehensive understanding of various e-commerce strategies, such as online marketing, customer relationship management, digital merchandising, website optimization, and data analytics. You’ll learn how to analyze customer data, identify trends, and tailor marketing strategies to target specific consumer segments.
Read more: Is an MBA in retail management the right career choice for you?
Here are some of the top job opportunities you can explore after an online MBA in retail management
Merchandising managers are responsible for planning and coordinating the product assortment, pricing, and placement within retail stores. They work closely with suppliers and vendors, keep a tab on market trends, and analyze them to maximize sales and profitability. The average starting salary of a merchandise planner in India is INR 8,00,000 PA.
E-commerce managers oversee website management, online marketing, digital merchandising, and customer experience optimization to drive sales and expand the presence of a business. The average starting salary of an e-commerce manager in India is INR 8,00,00 PA.
Category managers are responsible for managing specific product categories within a retail organization. They analyze sales data, monitor market trends, negotiate with suppliers, and develop strategies to maximize the performance and profitability of their assigned product categories. The average starting salary of a category manager in India is INR 13,00,000 PA.
As a store manager, you will be responsible for overseeing the daily operations of a retail store. This includes managing staff, inventory, sales, customer service, and ensuring a positive shopping experience for customers. Retail managers develop strategies to maximize sales and minimize costs. The average starting salary for a retail store manager in India is INR 4,00,000 PA.
Inventory managers oversee and manage the inventory levels of businesses. They work with a team of inventory and warehouse workers and receive and record as the new stock comes in. They are responsible for planning, managing and optimizing inventory control. The average starting salary of an inventory manager in India is roughly INR 4,00,00 PA.
The online MBA with Retail Management as elective offered by Manipal University Jaipur is UGC-entitled and opens doors to a pool of job opportunities. Acquire the right skills and knowledge to face the dynamic market and boost your earning potential. Through our online MBA program, you can expand your professional network by interacting with peers, faculty, industry leaders and get access to MUJ’s prestigious alumni network. Study at your own convenience and progress at your own pace, all from the comfort of your homes.
Information related to companies and external organizations is based on secondary research or the opinion of individual authors and must not be interpreted as the official information shared by the concerned organization.
Additionally, information like fee, eligibility, scholarships, finance options etc. on offerings and programs listed on Online Manipal may change as per the discretion of respective universities so please refer to the respective program page for latest information. Any information provided in blogs is not binding and cannot be taken as final.
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InstitutionManipal University JaipurManipal Academy of Higher EducationT. A. Pai Management InstituteManipal Institute of Technology
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Manipal University Jaipur