In simple terms, retailing is defined as the process of selling and buying goods and services across various industries. The process serves as a significant connection between the customers and the production houses or the distributor.
Beginning from the stage of conception to the design is all handled by the production houses and from there products reach distributors and dealers. From there the products or the goods are sold to the retailers that are further sold to the end-customer with an added price tag. The retail industry is growing rapidly and exponentially with its reach far across the various industries. The key operations taken care by the industry are departmental store, mass merchandiser, warehouse, factory outlets, specialty store, and wholesale clubs.
In the present day, almost all the industries across the world are hopping their success on the platform of retail outlets. There is a huge demand for various purposes like maintaining the stock, processing the shipment, managing the finance, achieving sales target, and enhancing profitability. This exponential growth has eventually led to a sudden rise of the academic education in the field.
India, many institutions have started offering a degree and diploma in retail management. The fundamental factors that are taken care during the educational tenure are supply chain management, marketing communication, business handling, finance management, retail accounting, sales promotion, business ethics, merchandise management, customer relationship ethics, inventory management, organizational behavior, retailing methods, and understanding of shopper’s psychology. These fundamentals form a strong base in the retail industry with which it becomes easier to grab any lucrative opportunity in any industry. Most of the retail jobs are in the fashion world, multiplexes, publishing industry, and food sector.
Some of the best institutes that offer retail management course in India are Welingkar Institute of Management, K J Somaiya Institute of Management Studies & Research, Mudra Institute of Communications, Indian Retail School, Pearl Academy of Fashion, Birla Institute of Management Technology, Institute of Technology and Management, Symbiosis Centre for Distance Learning, The Retail Academy, and National Institute of Fashion Technology.
There are wide opportunities open for retail management professionals. They can choose to work as store manager, administrative officer, merchandiser, inventory monitoring officer, marketing executive, or a sales executive. For more visit Retail Management Course.