From supermarkets and shopping malls to internet-based shopping websites, the world increasingly needs professional retail managers.  The MBA program equips students with these rising demands by sharpening their leadership, communication and analysis skills.

The MBA in Retail Management typically takes two years and involves the study of core management and retail-specific subjects. Marketing, finance, human resources and operations management are common core subjects. Retail-specific subjects are merchandising, supply chain management, visual merchandising, retail branding, consumer behaviour and retail analytics. Students also learn about emerging trends such as e-commerce, digital retailing and customer relationship management.

Live projects, case studies and internships are all standard methods of practical teaching at most institutions. Students learn in real-life environments within retail settings. This assists students in learning how retail companies work and how they can enhance the consumer experience and increase sales.

The qualification for this programme usually consists of a graduating degree in any discipline from a recognised university. Some institutions may ask applicants to appear for entrance examinations like the CAT, MAT, XAT or the college test. Personal interviews or group discussions may also be employed in the selection process.

Upon completion of an MBA in Retail Management, graduates can be employed in supermarkets, department stores, online stores, fashion labels, shopping malls and logistics firms. Others are employed in retail planning, marketing or customer services departments.

The salary of the candidate depends on their capabilities, job function and employer. Freshers' starting wages generally range from ₹3 to ₹6 lakhs annually, with scope for increment based on experience.

Highlights

Here are some crucial details about an MBA in retail management to help students make the right decisions. Students who want to earn a degree in retail management are given information such as the course name, level, eligibility, etc.

What is Retail Management?

Retail management aims to maximise sales and customer satisfaction through educating customers regarding the services and products offered.  Its core objective is to provide the theoretical and hands-on information necessary to understand the retail business dynamics.

Another way to define retail management is as a subset of management dealing with the distribution and selling of goods directly to consumers at designated vending locations like malls, stores, chain stores, and markets. A retail manager is responsible for the daily operations of a department store or retail outlet. They manage customer service, organisation of personnel, inventory and advertising of merchandise. In order to forecast demand and alter product availability, a retail manager needs to know the requirements of the shop's customers. The aspects of retail will be discussed for new graduates or working professionals who wish to make a career in retail management.

The retail industry has witnessed high demand for skilled professionals over the past few years. Retail management could be a good career option for one who is interested or has already worked with merchandise, marketing, sales, advertising, campaigning and market research. Retail management includes problem solving, supplier evaluation, tracking retail orders, merchandising, human resources, etc. Students can have the opportunity to serve as retail managers in manufacturing businesses, assisting customers with product information.  With big foreign retail chains coming into Indian shopping malls, the retail industry is rapidly developing. The setting up of various department stores, supermarkets, and shopping malls is bound to have a big influence on job opportunities in this sector.

Course Curriculum of MBA in Retail Management

The following general management topics are covered in the MBA program in retail management:

Eligibility Criteria 

The requirements for admission to an MBA programme in retail management are identical to those for an MBA programme in general.  Students must hold a bachelor's degree in any discipline from a recognised university with a minimum of 50% or higher.  Students must take competitive tests such as the CAT, XAT and GMAT and any other written or entrance-level exams allowed by the university. Some universities administer their own set of entry or written tests for specialised MBA programs.  Colleges use GD and personal interview rounds to further the selection process after choosing students based on their entrance exam results.  However, other colleges choose candidates based on their merit rankings.

Entrance Exam

Several entrance exams are administered in India to gain admission to the top management schools.  They are as follows: -

• CAT: The Common Admission Test (CAT) is the most commonly used entrance test. Every year, it is held in India to determine admission to management universities.  Students who wish to study at the best management universities need to score well in the CAT. The exam will take twenty minutes to complete.

• MAT: The Management Aptitude Test, also abbreviated as the MAT, is a standard test conducted every year to assist business schools in choosing candidates for admission into MBA courses. The exam will take one twenty minutes to complete.

• GMAT: The Graduate Management Admission Test is given online to candidates for MBA programmes by GMAC each year. It is applicable to Indian and foreign universities. The test takes two hours and fifteen minutes.

• CMAT: Another name for the CMAT is the Common Management Aptitude Test. The NTA holds a national-level test annually. It is the second most popular test among students, next to the CAT. The test duration is 180 minutes.

• XAT: The Xavier School of Management administers the XAT test, which is available for final-year students and holders of a bachelor's degree. The test duration is 180 minutes.

• Few universities/colleges have requirements that include a minimum of one year of relevant experience. Experience is necessary to understand management studies.  People can better develop the skills they require for future development.

• Some university admission tests are conducted. Some private universities utilise entrance tests in choosing students for enrollment.

Admission Process

• Admission into an MBA in Retail Management usually calls for a bachelor's degree with a minimum passing grade of 50%.

• The students have to clear entrance exams like CAT, CMAT, XAT, GMAT and other private university entrance tests as per individual university requirements.  The admission for this course will be provided based on the cut-off or mark. The specialisation opted for by the students does not decide their admission to MBA courses.

• All the invited candidates are required to complete the online or offline admission form and upload all the required documents, such as their Aadhar card number, proof of residence, proof of domicile, class 10th and 12th grade sheets and graduation grade sheet.

• Once they have cleared the entrance tests held by their respective universities, students have to go through the GD/PI rounds. The purpose of these rounds is to evaluate the students' ability to communicate and solve problems.

• The overall score, which is determined by the entrance exam result, GD/PI performance and job experience, is used to make the ultimate decision in universities.

• The outcome of the interview and admission exam determines the final admission of students to the public policy MBA program. Colleges might place different levels of emphasis on entry exam and interview scores.

• Students are able to scrutinise the papers with the institution prior to paying the money and attending additional classes.

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

The following list includes a few Indian institutions that offer MBA programs in retail management.  For appropriate guidance, information about the cost structure at various colleges is provided. Rajpura-Patiala's Chitkara Business School is the top university. It charges ₹3.30 lakhs annually for a two-year study.  Students who are interested in enrolling in a course on retail management can consult the details provided regarding the course's length and cost.

Colleges with specialisations in  Retail Management/ Specialised MBA/PGDM in Retail Management: Average Package

Students enrolled in specialised MBA or PGDM programmes in retail management have excellent placement prospects. Pass-outs from these courses may receive between ₹4 and ₹7 lakhs as their salary per annum. Premier institutes with good industry connections and internship opportunities can offer better salaries. The ultimate salary depends on the student's ability, results and the recruiting company. Professional retail management courses give students practical experience, which enhances their job opportunities in retail chains, e-commerce companies and consumer goods companies.

Job Prospects for Graduates in Retail Management

These are a few of the most frequently reported job profiles for retail management graduates. The information has been provided for appropriate guidance. The table gives information on the employment opportunities available to students interested in pursuing an MBA in retail management.

Future Scope

With the growing upsurge of e-commerce, technological changes and shifts in consumer patterns, the future of an MBA in Retail Management is promising and appealing.  At present, there is a high demand for professionals with experience in managing both offline and online stores. The emergence of multichannel retailing and green business operations presents opportunities for innovation and leadership. As retail marketplaces become increasingly global, skilled professionals will remain key drivers for the future direction of the industry.

Conclusion 

Lastly, as retailing expands in India and globally, an MBA in Retail Management is in great demand.  The retailing industry is expanding aggressively and restructuring, thus elevating the demand for knowledgeable people working in this industry.  Students acquire skills like supply chain management, merchandising, customer relationship management and operating retail businesses. As e-commerce, omnichannel retailing and data-driven business strategies have come into vogue, organisations seek professionals who will innovate and propel in an evolving world.  As the retail industry grows, this MBA program presents lucrative job prospects and long-term growth opportunities.