Retail Management Course: Admission 2024, Fees, Eligibility, Top Colleges, Career & Placements
Update on 18 Sep, 2024
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Retail Management Course: Retail management is the process of selling products and services to customers in an efficient way to ensure customer satisfaction. The retail sector is the most trending industry today as consumers want quick delivery of products and services.
Retail managers reduce the gap between the manufacturing of a particular product and delivery to consumers. Retail stores can sell the products directly to the end customers and gain revenue. Earlier the retail industry was only about brick and mortar shopping stores.
Digital transformation has revolutionized the field of retail and the customers can avail the benefit of retail shopping through multiple channels. There has been a boom in E-commerce platforms in recent times and the retail industry is capitalizing on it.
Today’s consumers are more interested in online shopping experiences and the retailers are gaining remarkable profits from the e-commerce shopping behavior of the customer.
Retail Management Courses After 12th:
The courses leading the retail management after 12th standard are as the following:
- Certificate course in Retail Management – 6 months
- Diploma in Retail Management – 1 year
- Bachelor of Science (B.Sc) in Retail Management – 3 year
- Integrated degree (MBA) in Retail Management –5 year
- B.Sc. in Fashion Merchandising and Retail Management (B.Sc-FMRM)
- M.Sc. in Fashion Merchandising and Retail Management (M.Sc-FMRM)
There are some institutions and universities offering the retail management study through the Retail Management course online and Retail Management certification courses to facilitate the working professionals.
Retail Management Course: Overview
A retail management course is the area of management that teaches the seamless selling of the products and services directly to the customers through physical stores via markets or shopping malls.
This course also includes the inventory and supply chain dynamics which are the most important part of the retail industry. The retail management course also includes the basics of accounting that will help the retailers manage customers smoothly and ensure them flawless shopping.
This training also makes the retail managers confident of the store dynamics and this helps to keep the store shelves stocked anytime and prevent a shortage of goods. Retail management involves various areas of the industry in which fashion retail is an important part.
Fashion retail is based on visual merchandising and covers the understanding of the fabrics, brand marketing, and promoting sales. A Retail management course is very important for keeping the store operations streamlined, ensuring profitable selling and retention of repeat customers.
There are various retail management training available in India. Some of these are:
- Bachelor of retail management
- Bachelor of fashion merchandising and retail management
- Diploma in Retail management
- Certificate course in Retail management
- Master of Business Application in retail management
- Postgraduate degree in fashion merchandising and retail management.
- Doctorate(Ph.D) in retail management
These are the main courses in Retail management. Apart from the above courses, there are numerous short-term courses available in the retail management discipline.
Job Profiles of Retail Managers:
The retail management program covers a host of job areas. Some of the job profiles of a retail management executive are as follows:
- Floor managers
- Marketing managers
- Supply chain managers
- Store managers
- Supply chain distributors
- Visual merchandisers
- Marketing executive
- Department managers
- Buyer trainees
- Customer care executives
- Sales executives
- Marketing executives
- Assistant store managers
Importance of Retail Management Training Course:
Retail is the most upcoming industry at present as it helps in the economic development of a country. Retail managers are required in various fields of marketing, sales, advertising, and merchandise campaigning.
The course helps the manager in enhancing their problem-solving abilities, communication skills, management of store operations, and administrative services. The boom in the retail sector has unlocked many job openings for the students opting for this course.
Retail management is necessary to provide customers with a quick and satisfying buying experience. It ensures that the shopping process is hassle-free so that the customers return to the store to buy products or services.
The necessity of a retail management course a be summed as follows:
- The in-store retail managers attend to customers to ensure that their buying process takes place smoothly. This involves reducing the waiting time of the customers and addressing their issues through customer service executives.
- The course helps in accounting and managing the daily transaction details of the store by updating the database of information. This keeps the financial aspects of the store error-free and increases the store profits.
- Retail management helps in maintaining inventory and supply chain logistics of the stores. Visual merchandising ensures that the store shelves are well stocked and well labeled so that the customer can get the required products easily.
- The course also trains the managers to ensure a smooth and uncomplicated shopping experience for the customers. This includes categorizing the products on the basis of their brands so that the buyers can find the products quickly. This saves time for both buyers and retailers and prevents crowding and unnecessary chaos in the shop.
- Retailing also helps in categorizing the products based on their pricing, available brands, and quantity of available products. This prevents confusion among the buyers and helps them to select their products easily.
- The retail course also trains the manager to remain alert and control various unruly activities that can be carried out at the store like shoplifting, unpaid bills, or confrontation between customers regarding a product.
Eligibility Criteria for Retail Management Course:
The eligibility and admission for retail management vary according to the courses that the candidate is applying for. Some colleges conduct an admission test as a part of the eligibility criteria for retail. Given below are the eligibility and admission for retail management:
| Name of the Course | Eligibility and Admission Criteria |
| Diploma in Retail Management | Candidates must pass the 10+2 exam with 50 to 60% marks.Maths is a compulsory subject for 10 +2 |
| Undergraduate Program in Retail Management | Candidates must pass the 10+2 exam with the required marksEntrance exams conducted by the respective colleges or universities |
| Postgraduate Program in Retail Management | Candidates should have a bachelor's degree in either of the streams- Science, Arts, Commerce, Engineering |
| Doctorate in Retail Management | Candidates should pass the master's degree in retail management from a recognized college or university. |
Top Colleges for Retail Management Course:
There are several good colleges in India that offer a retail management course. The criteria for admission into the top colleges for retail management courses are different. Some colleges require the candidates to take the entrance examinations as a part of the admission procedure.
The fee structures for these colleges are different from each other and the courses offered also vary. Some colleges offer postgraduate programs for retail management while some offer Diploma courses in retail management.
The top colleges for the retail management course have excellent infrastructure and faculty. The fee for the retail courses is well structured. This makes them the most sought-after colleges for retail management.
List of Top Retail Management Colleges in India
| Name of the College | Location | Courses Offered | Particulars |
| Birla Institute of Management studies | Greater Noida | Post Graduate & Diploma in retail management | Accredited by the National Assessment and accreditation council(NAAC) and National Board of Accreditation(NBA)Entrance on the basis of CAT, XAT, GMAT, CMAT scores |
| G.D Goenka School of management | Gurgaon | MBA in retail management | 2-year full-time courseEntrance on the basis of an undergraduate degree from a recognized university.Entrance exam GD Goenka aptitude test(GATA) |
| Amity Business School | Noida | MBA in Retail Management | Accredited by the National Assessment and accreditation council and Western association of schools and colleges(WASC)Entrance on the basis of CAT, MAT, GMAT scores |
| International Institute of Management studies | Pune | Post Graduate & Diploma in retail management | Autonomous Institute.Entrance on the basis of CAT, MAT, CMAT |
| Institute of management sciences | Lucknow | Post Graduate & Diploma in Retail management | The Candidate should pass the undergraduate degree from a recognized university1st-year course |
| K.J Somaiya Institute of management studies and research | Mumbai | Post Graduate & Diploma in retail management | Accredited by the National Board of Accreditation(NBA) & Association of Indian Universities(AIU)Admission criteria include entrance test scores like CAT, GMAT, CMAT, XAT |
| Indian Institute of social welfare and business management | Kolkata | Post Graduate & Diploma in retail management | Approved by AICTE.Offers full time and part-time coursesAdmission criteria include entrance test scores like CAT, JEMAT |
| Gautam Institute of Management | Visakhapatnam | Post Graduate & Diploma in retail management | Accredited by the National Assessment and accreditation council(NAAC).Entrance exam GITAMGAT conducted.Test scores of GMAT, XAT, CAT also accepted |
| Jagan Institute of Management studies | Delhi | Post Graduate & Diploma in Retail Management | Accredited to National assessment and accreditation council(NAAC).Entrance on the basis of CAT, MAT, ATMA |
| IIS University, Jaipur | Jaipur | MBA Retail management | Accredited by the National Assessment and accreditation council(NAAC) and UGC.Entrance on the basis of a Bachelor’s degree from a recognized university. |
Retail Management Courses Fees:
The retail management course fees are different and depend upon the course that the candidate has applied for. The course offers job opportunities in a variety of disciplines in retail management.
The postgraduate course duration is of 2 years and the diploma program for retail management course is of 2 years. The eligibility criteria for admission to the course are different for different colleges. Some colleges conduct an entrance examination for admission of the candidates to the retail management course.
Below are course fees for top colleges for retail management courses:
| Name of the College | Course Fee |
| Birla Institute of Management Studies | INR 9,00,000 |
| G.D Goenka School of Management | INR 6,70,000 |
| Amity Business School | INR 10,20,000 |
| Institute of Management Sciences | NA |
| K.J Somaiya Institute of Management Studies and Research | INR 14,93,335 |
| Indian Institute of Social Welfare and Business Management | INR 6 lac |
| Gitam Institute of Management | INR 3 lac ( approx) |
| Jagan Institute of Management Studies | INR 7,70,000 |
| IIS University, Jaipur | INR 1,85.980 |
| International Institute of Management Studies | INR 6,99,000 |
Retail Management Syllabus:
The retail management course syllabus gives the aspirant an insight into the various aspects of retailing business. The course covers the different disciplines like store operations, store planning, marketing of products, and the use of the latest technologies in the retail business.
The retail management course syllabus also highlights the supply chain logistics and inventory management in the retail sector. The course is delivered in the form of study materials and practical case studies which include visits to the different retail industries.
The Retail Management course syllabus may vary from one institution to the other. The modules for the course are designed by experienced instructors and aim to help the students gain knowledge to solve the day-to-day challenges faced by the retail sector.
| Module | Subjects Covered | Key Takeaway |
| Marketing and Sales Functionalities | Concepts and functions of marketing, Sales promotion, Sales management, Conducting sales training, Product development | All areas of marketing and sales are covered |
| What is Retailing | Important factors influencing retailing, Business models in retailing, Organization of retailing, Theory of retail development, Legislation for retailing | Understanding the basics of retail management |
| Management of Retail Store Operations | Research of retail store design, Reducing loss of inventories, Managing retail accounting, Understanding the responsibilities of a store manager | How to set up retail stores |
| Management of Supply Chain | Understanding the challenges and network of supply chain, Route sequencing and inventory management, Managing discounts on bulk purchase, Learning collaborative planning techniques | Understanding the supply chain network |
| International Retailing | International market analysis, Objectives of international retailing, Understanding the global competition in retailing, Analyzing India’s presence in the global market | Chief aspects of international trade and retailing |
| Planning of Retail | Brand management and social marketing in retail, Financial strategy and accounting methods in retail, Selection and employee recruitment in retail | How to do retail recruitment and train the hired employees |
| Understanding of Customer Relationship | Understanding consumer behavior and marketing implications in retail, Culture, decisions and their implications on marketing, Understanding personal influences in retail | Customer behavior and the marketing context |
| Electronic Retailing | Use of IT in retailing, Management of customer database and online catalogs, Data warehousing, Understanding e-retailing strategies | Role of information technology in retailing |
| Case Studies | Case studies and projects are based on the topics selected by the students | Project submission after course ends |
| Industry Based Training | 2 to 6 months of industry-based training | Industry training |
Retail Management Placements:
Retail management is a trending profession and has good career prospects for an individual. At the end of the course, the job opportunities of a retail manager are numerous. Retail management placements take place in reputed companies that open up options for the growth of the individual.
Below are some of the well-known companies which offer retail management placements to the candidates. The salary prospects of the company are good with domestic packages ranging from 18 to 20 lac per annum and international packages ranging up to 25 lac per annum.
The Retail Management Placements take place in Reputed Companies like:
- Bata
- Aditya Birla Group
- Infosys
- First cry
- Accenture
- Big Basket
- H&M
- Forever New
- Tata Consultancy Services
- Crossword
- Lifestyle
- BigBazaar
- Shoppers stop
- Malls
- Movie halls
- Westside
- Pantaloons
- Hypermarkets
Career and Scope of Retail Management in India:
The career and scope of retail management are widespread and a professional retail manager covers many aspects starting from customer buying operations to post-sales customer service. A retail manager is responsible for running the retail store smoothly and ensuring maximum customer satisfaction and retention.
The career and scope of the retail management course are numerous as the training makes the candidate skilled enough to manage the retail store seamlessly and ensure a profitable business.
The various roles that retail management training offers are the following:
- Store Manager
- Retail buyer
- Merchandising expert
- Warehouse expert
- Store analyst
- Brand manager
- Team leader
- Supply chain manager
- Marketing executive
The career and scope of retail management allow the candidate to play a multitude of roles in the field of retailing. The retail industry has lucrative job options for individuals who have completed the training successfully.
Roles of Retail Manager:
- Managing the financial operations of the store
- Responding to customer needs and issues
- Handling the inventory and supply chain logistics of the store
- Recruiting and training new employees
- Overall management of the retail outlets and handling front desk activities
- Communicate effectively with the customers and ensure the hassle-free running of the store
- Students can pursue higher studies after completing graduation in retail management. This will enable them to apply for jobs as lecturers and professors in reputed management institutes
Summing Up:
Retail management has several opportunities for students who are interested in marketing, sales, merchandising, advertising, and related fields. The chief job of the retail manager is to increase the sales of the store by communicating effectively with the customers and managing store-related functions.
The retail management course covers all aspects of retailing which is a major industry and contributor to the economic growth of a country. Managing the retail operations covers a vast area of responsibilities starting from procuring the goods to post-sales customer service.
An efficient retail manager is responsible for the profitability of a store by delivering services that increase customer satisfaction and retention. Retail management training offers promising career prospects to individuals by adding new skills and expertise to their credentials which helps them generate revenue for the retail industry.
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