MBA in Retail Management: Everything You Need to Know

Choosing MBA courses with specialisations has been a popular choice among students and young professionals. Specialisations work best to propel career goals and professional development in a particular field. So, before choosing an MBA program, make sure the course is aligned with your field of study/career/career objective. Those who are good at selling and accounting and interested in careers in sales, management, or product management may find MBA in retail management appealing.

Management in the retail industry refers to processes that facilitate the interaction between products and consumers. Managing retail involves identifying and meeting customer needs and expectations. Besides promoting merchandise, retail managers will organise employees, manage customer service, and handle inventory.

What is Retail Management?

Retail management involves managing retail outlets’ day-to-day activities in selling goods and services to customers. In this process, retail outlets strive to keep customers happy. MBA in Retail Management focuses on transportation, sales, production and management of goods, business analysis, and servicing. Market flow and retail process management require managerial skills.

MBA in retail management program helps you learn essential management skills to streamline the retail process. There are a lot of well-paid job prospects and good career opportunities in organised retail. It is a two-year program that covers a wide range of topics. Many universities offer Retail Management MBA degrees for students who want to start careers in retail.

Why MBA in Retail Management?

The career options after Retail Management MBA are vast if you wish to become a Retail Manager, Store Manager, Merchandiser or Marketing executive. You will be able to experience much diversity in the type of industry if your options are many.

Every day is different when dealing with customers, suppliers, and others. Keeping up with customer needs is a full-time job in the retail field, regardless of position. The retail industry is ideal for those who thrive in a busy work environment.

Sometimes, it can be challenging to work a regular nine-to-five, or you may prefer irregular hours! The flexibility of retail may appeal to you if that’s the case. Also, retail schedules allow for more flexibility when taking certain days off.

MBA in Retail Management Scope

As the population grows, more and more retail outlets are opening. As a result, there has been an increase in the demand for qualified MBA graduates in the retail industry to manage these stores and generate revenue. Private and government sectors both need Retail Management MBA graduates. The role may be front-end, such as selling and marketing the product, or back-end, such as retail analytics, product development, etc. Whatever the future holds, it is a guarantee that online and offline retailing will continue to grow and provide the best customer experience.

MBA Retail Management – Key Elements

A retail management MBA includes the below fundamental core areas to understand the subject.

• Retail Personnel Management: Obtaining, using, and managing a workforce are all included in this field.
• Customer Relationship Management: You can learn about customer-seller dynamics through this study.
• Corporate Communication: In this field, communication skills play a vital role in developing and maintaining a brand’s identity.
• Luxury and lifestyle retailing: This field focuses on advertising luxury brands and targeting specific population strata.
• Advertisement and Sales Production: This stream focuses on how a brand is perceived and how it is maintained. Product management is also part of this field.
• Business, Government and Society: This field explores how retail management interconnects with these three categories and how they contribute to managing retail stores.

MBA Retail Management Course Overview

Listed below is the MBA course overview of retail management.

Eligibility and Admission Process

• The Retail Management MBA has the exact eligibility requirements as the MBA in General.
• You must complete a bachelor’s degree in any discipline with 50% aggregate.
• It would help if you appeared for entrance exams such as GMAT/GRE/CAT/XAT/etc. or other entrance exams accepted by the university. Admissions are based on these scores as well.
• Some universities or colleges have entrance exams for specialised MBA programmes like this.
• Some institutions may admit students purely on merit, while others may consider entrance test scores, GDs and personal interviews.

Syllabus for MBA in Retail Management

Colleges Offering MBA in Retail Management

If you are planning to pursue an MBA in retail management in India, take a look at this list of top MBA colleges.

• Assam Down Town University – Guwahati
• Centurion University – Bhubaneshwar
• Sandip University – Nashik
• MIT – SDE (Online) – Pune
• Rathinam Group of Institutions – Coimbatore
• Oxbridge Business School – Bangalore
• Sharda University – Noida
• JECRC University – Jaipur
• SAGE University – Bhopal and Indore
• Jagran Lakecity University – Bhopal

Retail Management MBA Job Opportunities

There are many opportunities for applicants with a master’s degree in retail management. Following is a list of typical work opportunities with their average salaries in INR.

MBA in Retail Management Salary

• According to the institute of graduation and the hiring firm, fresh MBA graduates in retail management earn Rs 3 lakhs to Rs 6 lakhs.
• Mid-level executives start at around Rs 7 lakhs per year and work their way up.
• Some companies pay their brand managers as much as Rs 27 lakhs. (an experience brand manager)

Top Recruiters

Graduates with MBA in retail management get plenty of opportunities in top companies. For example, more than 1000 companies recruit from Sunstone, an education service provider with campuses in 50+ colleges. Here is a list of top recruiters in the MBA in Retail Management field.

• Tata Groups
• Ebony retail holdings
• Reliance Group
• Wills Lifestyle
• RPG Retail
• Shoppers Stop
• Pantaloons
• Globus
• Lifestyle
• Amazon
• ITC Retail
• Flipkart
• Raymond
• Nestle
• Canon
• eBay
• Philips India
• Snapdeal
• Croma
• HCL
• Zomato
• Puma
• DHL
• Panasonic

FAQs

What is MBA in Retail Management?

MBA Retail Management is a two-year PG programme that teaches vital managerial skills required for streamlined retail operations.

What is the MBA Retail Management eligibility?

For admission to the MBA Retail Management programme, candidates must graduate from a recognised university with a minimum score of 45%. Like other regular MBA courses, you must appear for national-level or state-level entrance exams.

What are the average MBA Retail Management Course Fees?

The average MBA course fee for retail management is between ₹3 lakhs and ₹24 lakhs, depending on the university and your marks.