The subject includes Retail Operations, Marketing Strategies, Supply chain management, Consumer Behavior, Merchandising, E-commerce etc. Graduates of this program can pursue various career paths such as Retail Store Manager, Branch Manager, Regional Manager, Institutional Sales Manager and Service Manager. 

For admission to the MBA in Retail Management, candidates must have a qualified graduation degree from any recognised university with a minimum of at least 50% or more. Candidates must appear for entrance exams like CAT, XAT, CMAT, NMAT etc. 

Top colleges offering MBA Retail Management programs are NMIMS, Birla Institute of Management Technology, NIMS University, etc. The average fees to pursue such a course may range from ₹ 0.58 lakhs to ₹ 26.00 lakhs. The average salary of a professional with this specialisation may range from ₹ 7.5 lakhs per annum to ₹ 35.92 lakhs per annum. At the start, it may gradually increase with experience. Students aspiring to gather more knowledge in this field can also opt for a PhD course in Management.

Highlights

Here is important information regarding an MBA in Retail Management for proper guidance of the students.  Information like course name, course level, eligibility etc. is given to the students aspiring to have a degree in retail management.

What is Retail Management

Retail management aims to boost customer satisfaction and sales by improving consumers' knowledge of the products and services offered. Its main goal is to teach the theoretical and practical knowledge required to understand the dynamics of the retail sector.

Another way to describe retail management is as a branch of management that deals with managing the distribution and sale of goods directly to customers in certain vending locations such as malls, stores, chain stores, and marketplaces. A retail manager oversees daily operations at a department store or retail establishment. They drive customer service, staff organization, inventory management, and merchandise promotion. To forecast demand and modify product availability, a retail manager must understand the wants of the customers in the shop.

The complexities of retail will be covered for recent graduates or working professionals considering a study in retail management. Retail management concepts like retailing trends, pricing and merchandising, segmentation, relationship marketing, and information technology in retailing are the main topics covered. The retail industry has seen a sharp rise in demand for qualified workers in recent years. Retail management may be the ideal career choice for people interested or who have experience with merchandise, marketing, sales, advertising, campaigning, and market research. Solving problems, assessing the supply, keeping an eye on retail orders, merchandising, human resources, etc. are all aspects of retail management. Students may have the opportunity to work as retail managers in manufacturing companies, assisting customers with product information. With big international retail chains entering Indian markets, the retail industry is expanding rapidly. The opening of several department shops, supermarkets, and shopping malls will undoubtedly have a significant impact on careers in this industry.

Course Curriculum of MBA in Retail Management

The MBA in retail management course curriculum includes general management subjects which are given below:

Eligibility Criteria 

The eligibility criteria for admission to an MBA in Retail Management is the same as required for an MBA in general. Students must have a qualified bachelor’s degree in any discipline from any recognized university with a minimum of at least 50% or more. Students must appear in competitive exams like CAT, XAT, GMAT or any other written or entrance-based exams that are accepted by the university. Some universities conduct their own set of entrance or written exams for specialized MBA programs. After selecting the students based on the entrance exam scores universities conduct GD and Personal Interview rounds for further selection process. However, some universities select students based on merit scores. 

Entrance Exam

In India, various entrance examinations are conducted to get admission to top management colleges. These are as follows:-

• CAT:  CAT is also known as the Common Admission Test and is one of the most common entrance exams. It is conducted every year in India for admission to Management colleges. Students aspiring to be in top management colleges must get a high score in CAT. The three different sections include Verbal Ability and Reading Comprehension Data Interpretation Logical Reasoning and Quantitative Ability are the three areas that make up CAT exam. The duration of the exam is 120 minutes.

• MAT: MAT is also called the Management Aptitude Test and is a standardized test, conducted yearly to facilitate Business Schools to screen candidates for admission to MBA programs. The duration of the exam is 120 minutes.

• GMAT: GMAT, the Graduate Management Admission Test, is an online exam conducted every year by GMAC for students to qualify for admission to MBA programs. It is for universities in India as well as abroad. The duration of the exam is 2 hours and 15 minutes.

• CMAT: CMAT is also known as the Common Management Aptitude Test. It is a national-level examination conducted every year by the NTA. It is the second most common exam taken by students after CAT. The duration of the exam is 180 minutes.

• XAT: The Xavier School of Management administers the XAT exam which is open to final-year students and those with bachelor's degrees. The duration of the exam is 180 minutes.

• Few of the colleges/Universities have criteria that demand at least one year of relevant experience. Experience is important to understand management studies. The individuals can acquire the skills better for their advancement in the future.

• Some entrance exams are conducted on a university basis. Some private universities conduct their entrance exams to qualify students for admission.

Admission Process

The steps that the admission process for an MBA in Retail Management includes are as follows:-

• Students must fulfill the admission criteria which usually includes a bachelor's degree with a minimum passing percentage of at least 50%. 

• Students need to pass entrance exams like CAT, CMAT, XAT, GMAT and other private university-based examinations depending on the requirements of different universities. Depending upon the cut-off or the score admissions will be provided in this course. Student's chosen specializations never determine their admission into the MBA programs.

• All invited candidates have to fill up the online or offline admission form and attach all required papers, including their Aadhar card number, proof of address, proof of residency, grade sheets of classes 10 and 12, and graduation grade sheet.

• After clearing the entrance exams needed by the respective universities, students need to appear for the group discussion round and the personal interview round. These rounds are conducted to assess student’s communication skills and problem-solving abilities.  

• The final selection in the universities is based on the overall score that will be calculated depending on the entrance exam score, GD/PI performance and work experience. 

• The results of the entrance exam and interview determine who finally gets admitted into the MBA program in public policy. Colleges may have different degrees of importance assigned to the entrance exam and interview results.

• The students can go through the documents with the institution before paying the fee and can enroll in the classes further.

Top colleges for specialisations in Retail Management / Specialised PGDM/MBA in Retail Management- Fees

Some colleges offering MBAs in Retail management in India are mentioned below. Information regarding the fee structure in different colleges is given for proper guidance. Both private and government colleges provide this course. The best college is Chitkara Business School, Rajpura-Patiala. It offers a 2-year course with a fee of ₹3.30 lakhs per annum.  Students aspiring to take admission to a Retail Management course can refer to the information given about the duration and fee structure of the course.