Career Path to become Retail Manager
Role / Profile
Who can become ?
A Retail Manager is a professional who is responsible for the successful running of a retail store and manages all the day-to-day activities. They ensure that the staff give proper attention to the customers so that they are satisfied with the services. Also, Retail Managers monitor the financial performances of the store from time to time.
What are the responsibilities/roles of a Retail Manager?
The basic role of a Retail Manager is to manage a retail store in order to maximise profits while minimising the cost of running the store. Some of the common roles/responsibilities of a Retail Manager are:
• Managing an efficient team of sales professionals by proper recruitment, training, supervision and appraisal.
• Maintaining the financial and sales records of the store in order to manage the budget.
• Overseeing the stock levels and their pricing; taking key decisions about stock levels in the store.
• Ensuring a high quality of service to the customers and highest standards in terms of health and safety for all.
• Responding to customer queries and complaints.
• Organising special promotions and events, taking responsibility for procuring all display materials and advertising activities.
What are the skills/tools associated with Retail Management?
• Excellent team management and organisational skills.
• Clear verbal communication and proficient negotiation skills.
• Basic IT skills and knowledge of common retail software.
• Good idea of the industry and decent commercial awareness.
• High-level of enthusiasm and effective problem-solving skills.
What are the career outcomes after a retail management course?
With a certification in retail management, one can expect a variety of career opportunities. Some of these are mentioned below:
• Retail Manager/Zonal Manager
• Regional Manager/Regional Sales Head
• National Sales Head
• VP, Sales/General Manager
What is the average salary of a Retail Manager?
The average salary for a Retail Manager is around ₹ 3.6 Lacs per annum and with experience, better skills along with a certification, one can have a high earning potential. Usually, certified professionals have a better chance in terms of career growth as compared to non-certified ones.
What are the advantages of becoming a Retail Manager?
Retail Managers are the ones who help run a retail store successfully and a lot of big retail chains look to hire skilled professionals. Following are some of the advantages of becoming a Retail Manager that can motivate you to pursue a course in the field:
• As the person responsible for the management of the whole store, you will gain a lot of valuable experiences which will help you in your future career growth.
• A Regional Manager gets to wear a number of hats as he/she has to handle a lot of responsibilities and this will provide you with a lot of challenges.
• The role of a Retail Manager is usually a flexible one, allowing one to take control of his/her responsibilities whichever way he/she feels is the best way.
• There are a lot of perks and benefits that come with a Retail Manager and in most of the times, there are provisions for earning incentives on top of your fixed earnings.
Which profiles can go for a Retail Manager position?
• MBA/Retail Management Graduates
• Sales Executives/Tele sales professionals
• Retail Sales Associates
• Customer Support Executives/Customer Service Representatives
• Sales Managers
• MBA/Retail management graduates – Though it’s uncommon for fresh graduates to start as Retail Managers, you can get opportunities if you have decent skills related to it. A certification can help you in that direction.
• Non-experienced professionals – If you are a professional with no experience in the field, then it will be a difficult task for you to get a job as a Retail Manager. Such candidates usually go for a certification course to acquire the required skills and get some practical knowledge.
• Experienced professionals – When you have the necessary experience and skills, it is always easy to get the job you are looking for. With retail or sales experience, you can have easy chances of becoming a Retail Manager.
Naukri Learning offers various online courses on retail management that can help you to boost your career, get better jobs and receive higher salaries.
What are the eligibility criteria to become a Retail Manager?
There are no fixed eligibility criteria to become a Retail Manager. Though, some amount of experience in retail and sales can help you. Most of the Retail Managers have a background of sales and have a degree in management. Professionals from other educational backgrounds can also go for a retail management profile with the right skills, which can be obtained through professional training courses and certifications.
Why are candidates going for a Retail Manager profile?
Retail management offers a good platform for those who want to build a successful career in sales. This is why candidates prefer a role as Retail Manager. Some of these reasons are:
• MBA/retail management graduates
As a fresh MBA or retail management graduate, being a Retail Manager will offer the right platform for career growth.
Also, Retail Manager position is a good position for fresh graduates to build their professional life upon.
• Sales Executives/Retail Sales Associates
For sales executives and retail sales associates, Retail Manager is a step-up in the professional ladder.
The average salary for a Retail Manager is also higher than the average salaries of sales executives and retail sales associates.
• Customer Service Executives/Customer Service Representatives
The career path of a customer service executive/customer service representative is not that lucrative unless you are in a management role. This is why candidates prefer to go for roles like Retail Manager.
As a Retail Manager, the salary is also higher as compared to customer service executive or customer service representative.
Recruiters usually look for the following points while hiring a Retail Manager:
• Prior experience – Any prior experience in the field can make the recruiters interested in you. It is also great if you can have any transferable skills like sales, communication and knowledge of the retail industry.
If you do not have any prior experience, a certification can help pave a way to your dream of becoming a Retail Manager.
• Key Skills – retail sales, store management, business development, stock control, sales analysis and customer service.
What are the top recruiters that hire Retail Managers?
There are a lot of prominent chains that hire Retail Managers, and if you are someone who is highly skilled in managing a store, sales and related fields, you can expect opportunities from some of the top companies.
Some of the top companies that hire Retail Managers are Future Retail, Godrej, Aditya Birla Group, Shoppers Stop, Tata Group and Reliance Industries