The end of 2006 saw a great deal of changes being introduced into Indiaâ€™s retail market and with it, the $300 billion market is set to make a giant leap in the future. To begin with, Wal-Mart, the global retail giant, has announced its designs on India. Whatâ€™s more, many international conglomerates such as Metro AG and Tesco are queuing up to enter the countryâ€™s retail segment. All this, in addition to the opening of the first stores of Reliance industriesâ€™ retail unit, coupled with the entry of major Indian players such as the Tata and Aditya Birla groups into this sector.
Reliance industriesâ€™ chief has been quoted saying that thereâ€™s room for six to eight new players in the field. Little wonder, since organized retailing in India accounts for just 3% of the total retail pie as compared to 20 and 40% in China and Thailand respectively. Forecasts have predicted that by 2012, this share is expected to touch 15 to 18% in India.
Right now, retail in India is at a nascent stage, but that is all set to change due to these global retail corporations. This will simply revolutionize the market.
Opportunities are aplenty in this field. Departmental stores, designer boutiques, fast food chains, supermarkets, company stores, music stores, electronics showrooms and automobile dealers, all employ retail mangers and allied personal.
Earlier, the retail market was highly unorganized. However, the very face of this market is changing today. The revolution first started with Shopperâ€™s Stop in 1991 and was boosted by the entry of a number of large retailers into the field. Now, with the foreign companies stepping in the scope of a career in this field has increased.
After the IT boom, retail is going to be the next big industry to look out for. Accordingly, there will be a great requirement for people at the ground level, with those in marketing standing to earn approximately eight to tem thousand rupees a month. The story will be the same for middle management with the exception that here, skilled professionals will start at about Rs 2.4 lakhs per annum which could even shoot up to Rs six or eight lakhs later on.
No background in retail is necessary. All you need is a good personality, confidence, leadership ability to be a team player and good managerial skills. Modern retail involves several functional areas such as merchandising supply chain, inventory management branding etc and most courses do focus on training students in each of these, making it easy for people with experience in diverse fields to cross over into the sector.
Retail salesperson: A salesperson is an on-the-field, ground level marketer who assists customer during the entire process of shopping.
Retail sales supervisor/manager: He or she is in charge of various teams of retail sales people and ensures that store operations run smoothly at all times
Merchandise buyer: He or she keeps abreast of the latest trends in customer demand and seeks out the best and cheapest ways to source the required goods.
Manager/General Manager is responsible for the day-to-day operations or management of a retail store or supermarket.