Sale of goods and services by individuals or businesses to the consumers is what we call as retail.  Goods/products produced by manufacturers in large quantities for consumption are purchased by the retailers. A retailer, in turn, sells these products to consumers, making a profitable transaction.

Accounting to 14-15% of the total Indian G.D.P, the Indian retail market is one of the top five retail markets in the world. The Indian retail industry predominantly comprises of owner - manned shops and it along with the logistics industry employs about 40 million of the total population. [Source: Wikipedia]

Emerging as one of the most dynamic sectors in the current Indian market, retail sector has witnessed both domestic as well as multinational companies across the globe set their foot in the Indian market. Indian companies like Pantaloon Retail, Piramal Group, Shoppers’ Stop, Lifestyle, Globus etc. have been key players in the retail sector over the last decade. This has resulted in large employment opportunities for retail management professionals who generally work either as store managers, merchandising assistant, customer service representative or management trainees at the fresher (entry) level. A course in retail management opens up various job prospects in publishing industry, music stores, malls and multiplexes, textile industry and even in the processed foods industry.

One can also be an inventory control manager (who buys good quality products and eventually sells out to customers at a profit) or a marketing and sales executive after pursuing a post-graduate course in retail management.

The industry focuses more on experience than on a professional degree; the retail sector provides employment to people having the most basic skills to well trained supply chain managers and qualified retail management professionals. The remuneration depends on the nature of work and ranges anywhere from Rs. 5000 to Rs. 25,000 per month. Being a sales oriented profile, the compensation includes bonuses based on performance too.

Job Profiles in Retail Sector

• Sales: Usually, a management graduate starting his career in the retail business has to go through a compulsory stint in sales domain at the entry level. Gradually with experience, he/she can choose to remain in sales or move to other verticals. Those who can build up a comfortable rapport with people in general are usually the ones who can be good in sales. Besides this, one must have a thorough understanding of the products to fare well in the sales profile.
• Store Managers: Are basically people who are responsible for managing the day to day operations (transactions) of the retail store. Being the in-charge of the store, they are responsible for the profit and loss of the stores. People in this profile report to the Area Manager of the retail store.
• Retail Managers: Are responsible for planning and coordinating the operations of the retail outlet. They are responsible for chalking out the layout of the merchandise, monitoring the retail orders, analyzing the supply etc. Generally, candidates who pursue a post graduate course in retail management can start-off their career as Retail Managers
• Retail Merchandisers: Managers in large retail stores are often involved in understanding and anticipating the needs of the buyers. They are responsible for developing a keen understanding of the market trends and are the ones who decide which products to buy and how they are to be placed or displayed in the store. A merchandiser has a sound knowledge of the latest market products. They know whether the customers will like the product or not and which all products will most likely make profit.
• Visual Merchandisers: are the people who give a face to the market products - The products are displayed in such a way that their features and benefits are highlighted. The purpose of visual merchandising is to attract, engage and motivate customers to make a purchase. Being a part of the concept and the design team, visual merchandisers could rise up to be a Product Developer and Store Planner.
• Supply Chain Distributors: are involved at the head of supply chain management for the stores. Optimization at this level helps shops to compete with one another on price. This, thus, forms an important component of the retail chain.
• Product Development: If working with designers and manufacturers and developing marketing plans interests you, then product development might just be the perfect profile for you! Generally with a background of merchandising, a Product Development Manager should understand the timing, quality of the product and the financial issues that a buyer faces. However, one needs to have a few years of experience to get into Product Development.