MBA-Retail Management: Huge Opportunities in fast-growing sector

In the last decade or so, Indian retail industry has witnessed great upsurge. With huge changes in the retailing patterns, including the upcoming of mall culture, the retail sector has become one of the pillars of Indian economy. It accounts for 14 to 15 per cent of national GDP. Indian retail market is among top five retail markets in the world with economic value of about US$ 500 billion, providing galore of employment opportunities. Given this boom in the retail sector, demand for trained and talented retail management professionals is growing not only in India but abroad as well. Big brands have opened retail chains throughout the cities & rural areas that offer huge job openings. A professional with excellent communication skills and a flair for convincing people can be recruited as store managers, customer care executives, merchandise officers, public relations executive and so on, in a multinational company.
To take care of the demand for management professionals with specialized knowledge of Retail sector, the GLA University (GLAU), Mathura offers Retail Management as major specialization in its highly reputed two-year degree course MBA. The Institute of Business Management at GLAU aims at nurturing customer-oriented professionals, enabling them to understand the retail industry dynamics and manage the fastest growing sector effectively.
MBA (RM) at GLA University provides specialized knowledge, required skills and attitude along with multitasking abilities to deal with complex business situations. The precisely and carefully designed MBA curriculum at GLAU is pretty sophisticated, flexible and hits bull’s eye in term of maintaining industry standards and keeping pace with ever growing body of knowledge. Its holistic nature indeed paves the way for better managerial skills.
The dual-specialization system adopted by the University gives students freedom to choose specializations from the fields of Marketing, Finance, Human Resource, International Business, Information Technology, Development, Retail, Operations and Strategic & Technological Management.
The first year of the course consists of core subjects that lays a strong foundation in one’s quest to become a good manager. These core subjects include Business Communication, Business Environment, Financial Accounting, Managerial Economics, etc. The second year of the program is centered around the specialization subjects, in which apart from some other common subjects there are four elective subjects spread over all the three trimesters of the final year. This imparts in-depth knowledge of the major specialization subject. Course Projects, Research and training is also based on the chosen major specialization.
Subjects included in Retail Management specialization are: Finance in Retail Operations, Retail Information Systems, Fundamentals of Retail Management, Retail Merchandising, Shoppers’ Behavior & Selling Skills, Retail Supply Chain Management & Vendor Development, Legal issues in Retail, Retail Store Operations, Store Design Layout & Visual Merchandising. These subjects, live projects and real-life training sessions ensure that the would-be manager passing out from GLAU makes one of the finest professionals.

Virtuous Retail commercial retail sector

Virtuous Retail is a visionary group and has brought in global expertise and trends in building world class retail shopping outlets. It provides retail spaces for rent in prime cities like Bengaluru, Mumbai, Pune, Surat and Kolkata.

But, retail spaces are not only about huge shopping malls, they have a lot more in store. Neighborhood shopping centers for instance have increased more than double in the past four years. These hypermarkets or shopping centers offer a viable and easy alternative to people for everyday needs and entertainment. Similarly, the extreme of neighborhood shopping centers, luxury retail, is another major segment as far as retail spaces go. Reports indicate that the spurring growth of the Indian luxury market, will result in a three times increase in demand for luxury products by 2015. Lifestyle retail is another segment of commercial retail spaces and is gaining immense popularity as well.

Another concept that has gained a lot of prominence in retail construction is that of consumer experience design. This is a process where the quality of user experience is kept at the forefront. It is used to design products, processes, services, events, environments and many more things. Consumer experience design is a new and emerging discipline, and draws inspiration from various fields like cognitive psychology and perceptual psychology.

The retail sector though, is a complex and intriguing one, and has various forces at play. While, putting up retail or commercial space up for lease, the concept of tenant relationship management becomes extremely important. The lease may be negotiated by the developer, but to make this arrangement work smoothly, the tenant and the owner of the retail space, i.e., the developer need to come to agreement with the terms and work in a harmonious environment for the duration of the lease.

Retail Management and leasing also play a crucial role in the commercial retail sector. While, the art of Retail Management revolves around promoting greater sales and customer satisfaction, and can only be achieved by getting a better understanding of the consumers and their psyche. On the other hand, leasing is organized by developers of the commercial property.

With growing disposable incomes and the love to spend increasing, the retail sector in India is only expected to flourish. And, with retail developers doing extensive background and trend research, the properties coming up are easily comparable to international standards. The retail sector has opportuniies galore for everyone involved!

For more info visit: http://www.virtuousretail.com/index.asp