MBA Retail Management

Master of Business Administration in Retail Management is commonly known as MBA in Retail Management. It is a postgraduate master's degree programme of two years in business and management specialisation. Students interested in exploring career scope in the retail industry can apply for the said course after completing their undergraduate qualification with a bachelor's degree. While there is no restriction on stream, students need to appear for certain entrance exams like CAT, MAT, XAT, CMAT, etc. They can apply for varying MBA Retail Management programmes as full-time, part-time, one-year, or online distance learning.

MBA Retail Management is a great course for students who wish to build a career that closely deals with direct consumers. Retail is the final step before the product or service reaches the final consumer. It is significant for the overall reputation of any organisation that the steps involving this final transition are as smooth as possible. MBA Retail Management provides all the required knowledge and skills to ensure the same.

The best colleges in India for MBA Retail Management include names like Narsee Monjee Institute of Management Studies, Indian Institute of Management, Indian School of Business, and Delhi University. The course fee for two years could be between INR 8,00,000 and 16,00,000.

Check out the significant highlights of the MBA Retail Management course below:

Here are certain personalised reasons why students could choose to study MBA in Retail Management:

• Build Interpersonal Skills: MBA Retail Management deals directly with consumers as well other stakeholders, such as suppliers, distributors, franchise representatives, and store managers. It helps them build varying types of interpersonal skills like communication and leadership styles in accordance with the group dealt with.
• All-time Relevant Sector: MBA Retail Management deals with all the methods and measures to ensure a proper and smooth transition of products or services to the final consumer. As consumers cannot be eliminated from the market structure of any industry, so does the retail sector. Retail Management is therefore an area with perpetual opportunities and relevance.
• Huge Industrial Investments: In order to complete the product/service cycle, it has to reach its target consumers. Any organisation, enterprise, or entity offering any product or service shall have to make investments in the area in varying ways, like direct supply, online buying, doorstep delivery, franchise stores, retail stores, etc. These settings require huge investments making the sector one of the highly invested areas of any venture. The income is similarly large and raw (as revenue), and MBA Retail Management graduates have a chance to take advantage of the same.
• Wide Scope of Opportunities: Clearly the perpetual relevance and bulky investments allow the MBA Retail Management to explore varying opportunities, not only in hierarchical structure but types of business and ventures they might work for as well. This technicality provides them with a chance to grow in a multi-faceted manner and build a wide range of experience, making it easier to negotiate for higher salaries and job perquisites.
• Scope of Professional Growth: The ultimate goal of any employee is professional growth in a dynamic manner. The wide range of growth opportunities allows MBA Retail Management to ensure the same, that too in varying sectors. It does not matter which sector they start with, they can always switch to a different one, build a career in the exchange or switch again. The profiles of top management assisted from the retail sector showcase a wide experience and hence make them more likely to lead successful business strategies.

MBA Retail Management programmes can be applied for by interested students, albeit they satisfy the eligibility criteria of the colleges and b-schools offering the same. While all colleges design their eligibility criteria independently, there has been observed certain commonality.

Here are the basic eligibility criteria which students may expect their applying colleges to demand:

• They must have completed their undergraduate qualification with a bachelor’s degree.
• The bachelor’s degree must have been obtained from an accredited and recognised institution, or equivalent to the establishment.
• The aggregate score for the bachelor’s degree must range either in or above 50%-55%.
• They must provide the entrance exam scores which are acceptable to the respective college or b-school.
• Their entrance exam score must be equivalent to or more than the cut-off score mentioned by the respective institution to make it to the next round of the admissions process.

Professionals with MBA in retail management degree can apply for both government and private jobs. Also, there are a large number of jobs available in MNCs. Companies offering jobs to MBA in Retail Management graduates include brands such as Pantaloons, Reliance Group, Lifestyle, Shopper's Stop, Piramals, etc. Candidates can apply for the following jobs after completing MBA in Retain Management:

• Product Manager
• Marketing Executive
• Sales Manager
• Merchandiser
• Sales Executive
• Store Manager

After pursuing an MBA in Retail Management, the average salary offered to candidates usually lies between Rs.4 lakhs - Rs.7 lakhs per annum. It is important to note that the salary packages may vary as per industry trends and the type of organization you are working for or the college you have done your studies from.