Today retail Industry is not just expanding but also getting more organized. This shift has attracted many to join courses related to retail industry such as retail marketing and merchandizing. The rising trend in retail industry is generating new jobs for educated and specialized staff in the world of fashion retailing. A person having degree and experience in such field is able to demand higher pay packages. If you have interest in retail industry, you can see a brighter career in the following areas:
Purchase
Increased customer bargaining power and competition is drawing the attention of retailers towards purchase decisions. Most of retail companies have a buying team which is responsible for developing and bringing a product range which not just attract customers, but are also profitable. Customers are aware and smart enough to evaluate the products price and quality. So as a part of buying team you will be required to bargain for the best possible price with suppliers. In many organizations, the responsibility of in-store displays, brand management and quality control is on buying teams. If you are a graduate, having good negotiating skills and some shop floor experience, you can opt for career in buying. It is also important that you should have some affinity for products in which you are going to deal.
Merchandising
Merchandisers work in coordination with buying teams at head office. Their tasks involve controlling the departmental operations, keeping records of stock, analyzing historical as well as current sales trends. As a merchandiser you will be forecasting the future scenario in terms of consumers purchase preferences and competitors moves. To pursue a career in this line you need to be a retail-aware graduate with sound numerical abilities and good communication skills.
Design
The main task of a designer in retail organization is to provide information on latest trends prevailing in market in advance. Designers communicate their ideas to buying team to buy the product ranges that attract customers. Designer are expected to update their knowledge through design fairs, TV shows, films, magazines, catwalks and also closely monitoring competitors both in domestic and foreign market. You need to hold a textile or fashion degree plus a creative mind and commercial acumen to enter in this field.
Wholesale
The scope of wholesaler is much wider. It includes areas such as merchandising, sales, exports and imports. The wholesales main function is to link the manufacture of goods and retail circulation. To perform the role of wholesale, a relevant fashion or commerce degree is necessary plus some experience in wholesaling is essential.
Technical and Production
Technologists have responsibility to ensure the quality specifications and legal requirements as agreed with buyers. A person needs to hold the technical degree in same industry, for example in apparel retail a person should be a textile engineer.
Marketing
Role of marketer involves wide range of activities from identifying customers needs to promoting the products and ensuring customer satisfaction. For example you will carry out consumer market research in order to know what customer wants. Marketers are also responsible for managing and promoting brand image of the product through proper use of media. Marketing is a creative, dynamic and exciting field which demands high degree of commitment and smart work. As a marketer you must be capable of handling stress and realizing the unexplored opportunities. You will need a relevant degree to enter this fiercely competitive market with some retail experience.
Retail Management
A retail manager is responsible for managing various store activities, staff, stock and any other issues that affect the daily business. You will be directly dealing with the customers so you should make sure that their complaints and requirements are properly handled. Any mistake on youre side will spoil the image of the store, as you are the owner of the store in the eyes of customers. If you have drive and retail flair and good selling and interpersonal skill, you can opt for career in retail management. If you have a right attitude, degree will not be a barrier for you.
Distribution
Distribution is an integral part of any retail organization. Distribution management involves all the supply chain and logistic activities. Delivering the right goods to the right place at the right time is main task of distribution. You will be responsible to control costs by avoiding over stock situations and wastages. You should have sound analytical, numerical and communication skills.
Human Resources
The HR functions are HR planning, recruitment, selection, training and development, and compensation. You will be liaising with people within and outside the organization. The goal of HR manager is to keep its staff motivated to work efficiently and effectively. Today many organizations are facing the problem of high attrition rate, so to retain employees has become important issue. To make career in this line you need to be a credible and persuasive communicator.
Information Systems
Today IT has become integral part of retail organization. IT support is required in all of the above functions discussed. Creating database, developing new systems and networking to facilitate information sharing helps organization to save time and cost. You will need a suitable IT qualification, some knowledge about the operations involved and problem solving skills to pursue your career in IT.
Conclusion
You can see your career in the retail industry if you have relevant qualification and interest for any of these fields. Retail is an industry where you have unlimited opportunities to grow. Of course some people believe that for a retail business you just need a right attitude and business acumen but besides this if you have a formal degree, you will able to hold higher positions at an early stage of your career.
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