Industry

Careers In The Retail Industry

Today, the retail industry is not just expanding, but it is now more organized compared to the early days. This change has compelled many students to take courses related to the retail industry such as retail merchandising and retail marketing. This rising trend is opening up new avenues for the educated and specialized staff of the fashion industry.

The retail industry is a very big business that has plenty of job opportunities. An experienced person in this field can demand a higher salary. So if you are interested in the retail industry, then you certainly have a bright future ahead of you.

Purchasing Power

There is a sudden increase in customer bargaining power and this is why the retail industry is growing at a phenomenal rate. Most retail companies have a buying team, which is generally responsible for launching a profitable product portfolio that will attract customers. Customers are smart enough to analyze the product price and quality. So as a part of the purchase team you have to bargain and get the best possible price from suppliers. If you are a graduate and you have negotiating skills and some basic floor experience then this is the best job for you.

Merchandising

This is a field of work where you have to work in coordination with the purchase team at the head office. Your task involves controlling the operation of the department, analyzing the past as well as current price trends and also maintaining stock records. As a merchandiser, you will forecast future trends with regards to customers’ purchase preferences and also try to figure out competitors’ moves. In order to pursue a career in this field, you should be well aware of the retail market and you should also possess sound numerical abilities with good communication skills.

Design

The main job of a designer is to apply the basics of the latest market trends. As a designer you should be able to display your ideas to the buying team so as to attract customers. You have to update yourself with the latest trends by visiting the foreign market, TV shows, design fairs, fashion shows and also closely monitor competitors. To get this job, you should have a degree in textile or fashion; in addition, you should also possess a creative mind.

Wholesale

In this field, the scope is much wider as it also includes the areas such as the merchandising, sales as well as import and export. So as a wholesaler, your function would be to link the manufacture and the retail circulation. To perform this task you must have a relevant degree in fashion with a commerce degree and some experience.

Technology and Production

Technologists are responsible to maintain quality as per the specifications, with all the legal requirements as agreed to with the buyers. This job is for a person who holds a technical degree in the retail field.

The retail field is not as boring and mundane as it once was. So if you have a creative mind, a bit of experience and retail education, you could have a lucrative and rewarding career.

Retail Industry Consultant for Strategic Help You Need to Succeed

Now a days, the retail consumer has become more demanding in terms of buying options and value for money. With high expectations, retail consumers have more options to make purchases. On the other side, the retail sector is facing stiff challenges because of the emergence of new competitors in the globalized market. Increasing infrastructure, maintenance, and marketing costs add more complicity to retail management challenges. Outsourcing Retail Sector Consulting Services comes up as a viable solution for the retail sector.

Critical Challenges resolved by Retail Industry Consulting Firm:

Retail Consultants have to analyze the objectives, existing resources, business plans, existing capability and need to improve the performances according to current and future possible trends. The task is not simple; yet, the exposure to retail industry and experience of serving numbers of retail clients dealing different products help the experts to devise the perfect strategy for improvement. Understanding the demographics of retail buyers in emerging markets is the basic of exercise. Partnering with the right local players help the businesses to know their target clients. Dynamics of online buyers, loyalty programs, and customized promotions is ever changing in a global market. Understanding it is a complex task for the consultants because they need to structure a sustainable supply chain and marketing policy. Improving in-house talent, as well as vital partners, needs a strategic training that requires the involvement of experienced Business Management Training Experts. Experimenting with the new formats and expanding to new channels with innovative concepts is a continuous process, so, the Retail Consulting Firm needs to design long term program to help its clients meet out ever changing challenges.

Help You Can Expect From Retail Industry Consulting Firm:

Retail Management Consultant can’t deliver overnight results but over the time, you start experiencing the benefits. Sustainable innovation policies and advance methodologies improve the processes. Strategic execution brings down the cost besides adding new channels to market your product. Retail Sector Consulting Services assist the clients in addressing the strategic challenges besides enabling them to add new values to their business. Retail Consulting Firms have already helped thousands of industries to sell their products/services in new emerging markets while cashing the new opportunities earlier than others. The proven strategic methodologies, which are customized according to particular industry/trade, help you know your potential clients better and to communicate with them through various drives; it delivers the brand identity in return. Therefore, an involvement of retail industry consultant delivers multidimensional help that any business needs to counter down competitive challenges.

A Quick Look At Retail Industry

Retail industry serves changing needs of the consumers by offering wide range of products at convenient place for the customers. Retail outlet is a place from where buyer can purchase anything for direct consumption. According to market research reports U.S. is leading the global retail industry. Some largest retail chains in global market are Wal-Mart, Tesco, Carrefour, and Metro AG. Retail industry had created number of employment opportunities like supply chain management jobs, sales executives, operations management, store managers and merchandise planners.
In today’s competitive scenario retail industry is trying to upgrade their operation systems for sustainable growth in the market. Gone are those days when retailers use to grow by opening new stores, add new product line in the stores. Nowadays to sustain in the market retailers should satisfy the needs and wants of the customers and adapt new trends in the market. Through research reports it is determined that the value of Indian retail market will increase from $ 330 billion in 2007 to $ 640 billion by 2015. Though India has largest number of retail outlets in world only 4% of it performs organized retail. According to analysts there will be near about 25% of organized retail be performed by 2018. Retail industry market reports have highlighted that in coming years the growth rate of this sector will be 9% per annum.

The leading retail organizations in India are Reliance Retail, Future Group, Raheja Group, Ebony Retail Holdings and RPG Retail. There is lot of scope for retail business in all the sectors including urban and rural. Government is also encouraging FDI in this segment. Thus retailers are enthusiastic to step in this market. The most significant tie up that took place in Indian retail sector is between Wal-Mart and Bharti Enterprises. PVR Limited also tied up with Starbucks. Such merger and acquisitions in this sector created more than 2.5 million employment opportunities by 2010.
To be sales executive in this sector there no need of any degree one should have good communication skill and product knowledge. For graduates higher level jobs are available with higher responsibilities and pay. For senior executive positions MBA’s with specialization in retail are preferred and they are paid up to Rs. 60 lakhs. Rapid appraisal is possible in this sector if you have that ability and talent. One should be multi-skilled, have high intellectual, excellent communication skill and should be very dynamic to get appraisal as per their desire. Several educational institutes are offering special courses related to employment opportunities in retail sector like retail marketing, MBA with retail specialization. Retail sector emerged as a boon for Indian economy it generated several development opportunities in rural and urban area and created employment opportunities of several people.