What is Retail management all about?
Retail Management is a professional programme which prepares graduates to enter in the field of retailing. There is a huge demand for retail management professionals for processing of all merchandise shipments, achieving store sales and profitability, communication with the clients to gain their satisfaction and administration of stores. Retail is all about distribution of the product from the manufacturer to the consumers through short and convenient channels.

Retail managers are responsible for the day-to-day management of a department or store, following company policies and procedures. This includes ensuring that the store reaches sales targets and increases profits. The focus of any retail manager's job is to improve the commercial performance of the company, working towards an increased market share by exploiting opportunities to maximise profitability, increase customer satisfaction and ensure continued business growth. A major part of the job is managing and motivating staff to increase sales and improve efficiency. The work also includes making sure that supplies are re-ordered in time and that stock is of the right quality.

Managers are responsible for attracting and keeping customers, so they must make sure that their staff maintains a high level of customer service. They may have to deal with individual queries, from questions about store cards to complaints about purchases. They also deal with health and safety and security issues.
Depending on the size of the store, and company structure, retail managers may also be required to deal with human resources, marketing, logistics, information technology, customer service and finance.

Retail Management Course content:
The curriculum on retail management include subjects like supply chain management, marketing information, finance management, accounting in retail, electronic retailing merchandise management, marketing and business communication. Students also learn about sales promotion with public relation, inventory management, customer relationship, business ethics, retail brand management, business communication, management and organizational behaviour, quantitative methods in retailing. Retail management courses open up job prospects in the books and publishing industry, music stores, multiplexes, shopping malls, garment industry and even in the processed foods industry.

Typical work activities:
Depending on the size of store and the area of retail, typical work activities may alter, but tasks typically involve:

• Managing and motivating a team to increase sales and ensure efficiency;
• Managing stock levels and making key decisions about stock control;
• Analysing sales figures and forecasting future sales volumes to maximise profits;
• Analysing and interpreting trends to facilitate planning;
• Using information technology to record sales figures, for data analysis and forward planning;
• Dealing with staffing issues such as interviewing potential staff, conducting appraisals and performance reviews, as well as providing or organising training and development;
• Ensuring standards for quality, customer service and health and safety are met;
• Resolving health and safety, legal and security issues;
• Responding to customer complaints and comments;
• Promoting the organisation locally by liaising with local schools, newspapers and the community in general;
• Organising special promotions, displays and events;
• Attending and chairing meetings;
• Updating colleagues on business performance, new initiatives and other pertinent issues;
• Touring the sales floor regularly, talking to colleagues and customers, and identifying or resolving urgent issues;
• Maintaining awareness of market trends in the retail industry, understanding forthcoming customer initiatives and monitoring what local competitors are doing;
• Initiating changes to improve the business, e.g. Revising opening hours to ensure the store can compete effectively in the local market;
• Dealing with sales, as and when required.

Personal qualities
As a store manager, you should be a good team leader with excellent organisational and people management skills. You must be willing to take on responsibility at an early stage in your career and you must be a quick thinker, not afraid to make decisions. You would need excellent spoken and written communication skills and you must be committed to the needs of the customer. A smart appearance would normally be expected.

Looking ahead at what the future holds:
Retail managers may be employed in a variety of outlets, including multiple stores (such as the larger supermarket and fashion chains) that sell or market their own brands of goods, department stores, hypermarkets, DIY stores and smaller independent shops.

Effects of working as a Retail Manager:
Store managers usually work at least 38 hours a week, including weekends. Friday, Saturday and Sunday are key days, as this is when most people do their shopping. They have to make sure that the store has management cover at all times, which can mean having to work late nights and provide cover when more junior managers are absent.