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A fast-moving, well-earning career!
Meghana B |
May 11, 2005
fter years of unorganised retailing and fragmented local kirana stores, the Indian retail industry has taken its step towards modernisation and consolidation.
Today, the retail indutry is considered one of the fastest evolving industries in India.
Market figures say the industry is expected to grow from two to ten percent in the next five years.
With the rise in consumer demand, high disposable incomes and increased awareness levels, the retail industry has undergone a major transition.
"Retailing falls under a vertical industry and is not just restricted to malls, as most tend to believe. This industry offers ample opportunity and has room for everyone -- starting from entry level to senior management level," says Professor S Rajagopalan, Dean - Marketing and Accademics, Welingkar Institute of Management, Mumbai.
Led by the demands of Indian consumers, the transformation has given way to the increasing number of supermarkets, hypermarkets, food chains and malls.
Retailing provides employment to the largest section of the population across most industrialised nations. It is an industry that promises a profitable road.
The boom in the retail industry brings with it many employment opportunities in this arena. People with varied skills and talents are required in this fast emerging industry.
Do you have the aptitude?
A career in retailing is considered a challenging option with growth potential.
If you have the following qualities, you are sure to conquer one of the fastest growing industries in the world:
1. People skills
Retailing is a people-oriented business.
Most retail jobs involve interacting with customers or sellers. Good people skills help develop a sense of empathy, which helps to retain a customer.
You must have an outgoing personality.
Retail, as a profession, places maximum importance on vigour and vitality.
The right attitude is very important, which means you must be flexible.
Being resourceful will also help you survive in this industry.
3. Communication skills
You must have excellent command over language. This helps build confidence in your customers.
4. Team spirit
You must be a team player.
The job market
"The employment in this sector is somewhere between 20 to 25 per cent per annum," says Sharmila Basu from Connexions, an HR consultancy.
You can join at the entry level if you are a graduate (from any discipline) with the right aptitude and personality. If you have an MBA, you could start at the supervisory level.
"Starting salaries could range from Rs 80,000 to Rs 100,000 per annum for graduates. MBAs can walk away with a package of Rs 200,000 to Rs 250,000 per annum. After a few years of service, you could earn anywhere around Rs 15 lakh to Rs 20 lakh per annum," adds Basu.
These figures are inclusive of the basic salary and other performance-based incentives.
A career in retail also gives you on-site placement opportunity, with most retail majors in India planning to set up their operations in places like Dubai and so on.
Retail also offers you the scope to grow professionally. For instance, a sales personnel with the right amount of hard work and attitude can rise up to the level of floor manager or even director.
Nidhi Srivastava, a new entrant into the field of retail says, "Retail as an industry is exciting to work for. This industry is poised to grow. Retailing exposes you to an array of activities starting from marketing to branding. Though it involves a lot of hard work, job satisfaction is guaranteed."
The industry is set for a boom with the entry of big industrial corporations and international retailers marking their entry into this sector. This industry constantly requires good, motivated personnel.
It also promises a complete, enriching working experience with profitable inputs.
Institutes with retail management programmes
Mudra Institute of Communications Ahmedabad offers a 12-month full-time post graduate certificate programme in retail communication management.
Mudra Institute of Communications
Ahmedabad -- 380 058
Phone: (02717) 237 946/ 47/ 48/ 49/ 50/ 51
Web site: www.mica-india.net
S P Jain Centre of Management, Dubai, offers a one year full-time post graduate diploma in management with a specialisation in retail management.
S P Jain Centre of Management
Block 3A, Knowledge Village
PO Box 502345
Phone: (00) 9714 3664041
Web site: www.spjaindubai.org
Welingkar Institute of Management's Centre for Retail Studies, Mumbai, offers a variety of programmes in retail.
- Professional Program in Retailing
- Diploma in Retail Management
- Post Graduate Diploma in Business Management
L N Road
Near Matunga Central Railway Station
Mumbai -- 400 019
Phone: (022) 2417 8300
Web site: www.welingkar.org
K J Somaiya Institute of Management Studies & Research, Mumbai, offers a Diploma in Retail Management.
K J Somaiya Institute of Management Studies and Research Vidyanagar
Mumbai -- 400 077
Phone: (022) 2502 7211/ 2502 7210
Part II : Career options in the retail industry