Retail management is more than just managing the day-to-day running of your brand. It is also about being aware of the changing market trends beforehand and taking effective steps to harness the excellent lucrative opportunities that a retail management professional gets in the field.
According to a report by India Brand Equity Foundation (IBEF)*, the Indian retail industry is one of the most dynamic and vibrant industries in the country. It contributes over of India's GDP, and provides employment to around 8% of its citizens. On a global scale, these factors have enabled India to become the 5th top location for retail industry.
Today, thousands of management professionals are looking to hone their skills by undertaking a PG in Retail Management from the top business schools in the country.
Retail Management is a part of Luxury Brand Management
In simple terms, retail management is responsible for helping customers to select the desired merchandise from retail stores for personal consumption. This process starts from the way you attract the customer to enter into your retail outlet to the time the customer is fully satisfied with their purchases. The luxury goads and services industry is one of the fastest growing markets in the world. This industry is exciting and filled with interesting opportunities for management professionals. As the industry caters to a niche target audience, PG in retail management is an essential part of luxury brand management courses today.
Retail management is extremely helpful as it helps to save time and ensure that the customers are able to locate the merchandise they require easily.
Fashion retail management is one of the top sub-industries within luxury retail industry. It involves learning principles of fashion marketing, merchandising, retail buying and imparting basic knowledge about the different fabrics used in luxury goods market. This course is effective for learning the concept of visual merchandising and helps to improve customer-retailer relationship, apart from focusing an better sales management and brand management.
What is the future in Retail Management like?
There are immensely impressive opportunities for management aspirants who have completed a PG in Retail Management from a renowned business management college.
With a burgeoning economy, the spending power of the individual consumer is increasing in India, which in turn means increased potential of sales of luxury goods and services in the country. The Indian retail market is known to be one of the most dynamic and fastest-growing markets in the world. There is an immense demand for qualified and well-trained management professionals in this industry.
Leading business schools in India are today aspiring to create a new generation of managers who have the potential to serve and succeed in numerous aspects of management in different industries.
What can you become after a PG in Retail Management?
Being a truly dynamic industry, retail sector consists of several sectors, which further include numerous renowned brands and companies. After successfully getting a PG in Retail Management, the candidate is eligible for numerous lucrative managerial positions, such as:
Where to get the best PG in Retail Management in India?
Although there are thousands of management colleges and business schools in India, only a handful of these are renowned for providing comprehensive and complete business management courses. Luxury Connect Business School (LCBS) is ane of the leading business schools in India which offers an effective and excellent course for PG in retail management as part of luxury brand management, which is aimed at transforming aspiring business managers into successful retail professionals.