In the last decade, the retail industry has become one of the shining stars in the India success story. India is now an attractive investment option for international retailers. Additionally, the Indian government is taking significant initiatives to support and nurture the industry.
Some interesting facts about India’s retail sector:
- It contributes 10 per cent of the country’s GDP and was valued at US$ 330 billion in 2007
- It is the nation’s second biggest employer, after the food and beverage industry.
- With several conglomerates and overseas retailers expected to enter the fray, the sector’s value is expected to touch US$ 175-200 billion in 2016.
Such breakneck expansion has inevitably generated a steep demand for human resources.
What’s in it for students wanting to explore a career in retail? – An opportunity to be a part of the one of the most dynamic sectors of the Indian Economy, working across formats and brands, handling cross functional roles and responsibilities in people intensive environments leading to great career prospects.
The types of work in retail span a wide and varied cross-section of activities:
- Store(s)/Department/Mall management
- Inventory management
- Department layout management
- Customer service management
- Human resources management
- Sales, marketing and promotions
- Information technology
- Finance/commercial
- Fashion designing
- Industrial/product designing
- Product planning
- Logistics and distribution
- Market research
- Quality management
- Purchase
- Merchandise Management
- Category Management
For BBAs – In the initial stages of their career, fresh graduates work in every area of a store to acquire hands-on experience and skill in sales, marketing and general management. The students typically start out in supervisory roles at the front end or back end, handling teams. Career progression is very exponential for performers with a zeal for customer service excellence.
For MBAs – New entrants start out as Management Trainees and can expect to move up the ladder to become department managers/floor supervisors and store managers within one and half year to two years. They can alternatively take up roles in operations, customer service, marketing, business strategy, etc. Retail careers offer both rapid growth and lucrative pay packages.
Students from Future Innoversity are well equipped to find placement in roles of their choice. Thanks to our unique methodologies that focus on industry-centric learning, our graduates emerge as well rounded professionals. Our students’ exposure to the tacit knowledge and experience offered by Future Group enables them to enter the world of business with confidence.
