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In Spotlight: MBA In Retail Management
India's retail sector on growth path; Time for sectoral MBA
The current rate at which the retail industry is spreading its wings all over the country indicates only one thing that it will remain a lucrative pond.
The economy of India is touching new heights, and that
too against many odds. As it comes along in a shining
fashion, the changes are already being felt by people
of this country and they are happily ready to welcome
When the economy of India got liberalized in 1991, there was a great deal of hope swaying around that people here will be able to get whatever they wished for. Certainly, this is the case now, in 2011, 20 years after the start of the liberalization process. In effect, the moment India latched onto the idea of going global; people’s behavior and choices in the country also got a significant facelift.
The triggering force behind people’s growing desires to acquire everything they hoped for is their rising income which has seen a lot of improvement. This change in mindset also led to their curiosity towards purchasing branded luxury items from outside.
In retrospect, the retail sector in India could be referred to as its one of the fastest growing sectors with a lot of potential. So let’s familiarize ourselves with this strong portion of the Indian economy which has ensured the country to be regarded as the next emerging retail destination.
The current rate at which the retail industry is spreading its wings all over the country indicates only one thing that it will remain a lucrative pond for both national and international players to swim in.
Before this, it is important to know that there are two types of retail business implemented everywhere. One of them is the organized retail and the other one is unorganized retail.
Since India has been a traditional market for a long time, the latter has always dominated the psyche of people in the country. The unorganized type of retail usually comprises small and medium grocery stores, medicine stores, subzi mandi, kirana stores, betel shops etc that have long been the prime medium to cater to the several needs of the Indian people. Even today, 90% of retailing done in the country belongs to the unorganized sector according to a report by AT Kearney.
However, the tide seems to be shifting rapidly now. With increasing awareness about their likes and dislikes among the Indian people, the organized retail (whose growth rate was merely three percent till now) seems to have gone far ahead. It is expected to grow at a rate of 25 to 30% annually, according to a report by RNCOS. No wonder the number of malls, supermarkets and departmental stores coming up in metros in five years down the line will be too high as a result, making the organized retail as the ultimate target point for the investors to put their money into.
The factors that
are reinforcing this trend
Not far behind is the food retail market which is growing at a rate of 9% per annum. The arrival of players like McDonalds, KFC, RK Foodland, Jubilant Food Works (Dominos) and many more are bringing in a plethora of eating options for the Indian public. Hence, it’s a huge pot that needs to be utilized productively as it is expected to be worth US$ 150 billion by 2025, according to a report by KPMG. Followed by this, the other arenas like apparel, electronics, cosmetics & toiletries, mobile handsets and accessories and grocery too will be occupying the large share of the retail market. In between all this, the luxury brands are also seeing a sea change as the younger generations have their own varying aspirations to look forward to together with escalating income levels.
As this massive turnaround comes floating by, the need for well-decorated space is bound to emerge. This is where the boom in retail sector might also be making the real estate sector look like a hot property arena. In short, the current retail industry will soon be churning out tremendous sales from US$ 395.96 billion in 2011 to US$ 785.12 billion by 2015, thus making it one of the most money-spinning ventures and business models in the country (according to the Business Monitor International (BMI) India Retail Report). After all, it generates 12% of India’s GDP and employs almost 8% of the population with the existing growth rate at 8.5%. According to the statistics maintained by the Government of India, the jobs created by the retail sector will be huge, close to 10 to 15 million in the next five years. Moreover, according to a report by global consultancy and research firm PricewaterhouseCoopers (PwC), the value of Indian retail sector will be worth US$ 900 billion by 2014 up from US$ 500 billion at this time.
Presently, the top Indian retail players in the market are Bharti Retail, Aditya Birla Retail, Pantaloons Retail, Shopper’s Stop, Lifestyle, Landmark Group, K Raheja Corp Group and Reliance Retail. Rather it is turning into a competitive race among the old and the new players as well to get hold of this profitable sector. Hindustan Unilever, the country’s largest consumer Products Company is also determined to enter the market with its own coffee product. Even Starbucks and Dunkin’ Donuts (US most popular coffee chains) are busy making plans to launch their products in the Indian retail industry. The other big foreign giants planning to come to India to launch their products are Wal-Mart, Tesco, Germany's Metro AG, Carrefour, Boots Group and many others.
As the international retail giants begin to infiltrate the Indian retail sector, the FDI investments in the sector is expected to rise enormously. According to the Department of Industrial Policy and Promotion (DIPP) the upsurge of FDI investments in single-brand retail trading in the Indian retail sector was reported to stand at US$ 128.34 million. Most importantly, there is the rural segment of India that too is going to witness extraordinary changes as the next phase of retail revolution moves countryside. It would be generating 50% of retail business of the country by 2012, according to a market research report published by RNCOS (an industry research firm).
To put it in perspective, India is now the progressive hallmark of global prosperity thanks to its economy doing extremely well and creating a lot of scope for sectors like this to flourish quite independently. Henceforth, the Indian public will be enjoying and saluting the subtlety of free market where they will have access to multiple products because of this competitive sector facing new dominant players.
As the retail sector grows bigger and bigger, there would certainly be an urgent requirement to bring in new talents familiar with the know-how of this fast changing sector at each and every stage.
In essence, the format of the retail sector is taking a whole new turn and emerging with complex challenges. To meet these challenges, the skilled manpower is crucial. And that’s why there is no dearth of excellent job opportunities pertaining to this sector today. Not to forget, India is considered as the third most attractive market for retail investment in a list of 30 other emerging markets, according to the US-based global management consulting firm, A T Kearney in its 9th annual Global Retail Development Index (GRDI) 2010.
Few learning lessons:
The downfall of Subhiksha
Started by R. Subramanian, an IIM graduate from Ahmedabad in 1997, it was the largest supermarket chain in India at the time. It had 150 stores across the country till 2006. Initially, powered by good results it was on the road to charting out massive expansion plans across the country. Within two years, the number of outlets it owned was 1600.
Top industry experts have attributed the downfall to several factors, including problems with funding strategy, supply management, and tough competition from emerging players like Reliance Fresh, RPG, Future Group.
Road to Management
Career in Retail Sector
Here are some of the reputed institutes which offer specialized MBA programs for the Retail sector:
XLRI Jamshedpur- It is one of the leading institutions in the country offering courses related to retail sector. The course it offers is Post Graduate Certificate in Retail Management (PGCRM) through satellite mode. The duration of this study course is 12 months. It is planned in such a way that people looking for managerial careers in the retail sector could easily fulfill their dreams. The enrolled students will first get to know about general business management and then retail management. Along the way, they would also be made familiar with Retail Communications Management, Customer Relationship Management, and Merchandising Management etc. For more info visit http://sat.xlri.ac.in.
Narsee Monjee Institute of Management (NMIMS), Mumbai - It offers full time MBA in Retail Management. The course would be touching upon various aspects pertaining to this huge industry like Financial Analysis & Management, Retail Sales Techniques, and Strategic Management for Retail Industry, Integrated Retail Communication etc. The duration of the course is two years. For more info visit http://university.nmims.edu
IMT-CDL, Ghaziabad- The course offered by it with respect to retail sector is PGDRM in Retail Management. The students of this program will be able to know about the modern concepts related to this sector such as in-depth consumer behavior and customer relationship management, promotional strategies, marketing culture followed in this sector and many more. The duration of the course is one year. For more info visit http://www.imtcdl.ac.in
NIIT Imperia - It offers a course in Retail Management. Basically, it is known as Retail Management Program. The participants will come to know about merchandising and purchase experience, value of assortment, shopper behavior, and logistics & supply chain management and many other things. The course is of one year. For more info visit http://www.niitimperia.com
Symbiosis Center for Distance Learning, Pune- SCDL offers PGDRM in Retail Management. The students are taught about various formats of the organized sector such as planning and designing, merchandising, operations and logistics, franchising, store branding and marketing, database management and lots more. It is a one year program. For more info visit http://www.scdl.net
Retailers Association of India- This Association offers PGPRM in Retail Management covering multiple areas of this industry like understanding contemporary retail management issues at the strategic level, adopting retail specific knowledge called for by the corporate retail sector etc. The duration of it is one year. For more info visit http://www.rai.net.in
Amity University - It offers full time MBA in Retail Management. The students of this program are made familiar with innumerable areas of this sector such as Business Environment & Strategic Analysis, Retail Sales & distribution Management, Merchandising & category Management and many more. The duration of the course is two years. For more info visit http://amity.edu
K.J.Somaiya Institute of Management Studies & Research, Mumbai - The course offered by it is PGDM in Retail Management. It’s a two year full time program. For more info visit http://simsr.somaiya.edu
Birla Institute of Management Technology (BIMTECH), Noida –The course offered by BIMTECH is PGDM in Retail Management. The areas covered under this course are basic retailing and management concepts, fundamentals of marketing and selling, managerial aspects etc. It’s a two year full-time program. For more info visit http://bimtech.ac.in
Jaipuria Institute of Management, Lucknow - The course offered by it is PGDM in Retail Management. The areas covered by it are Retail Selling Skills, Marketing Research, Merchandise Management, Retail Banking and many more. The duration of it is two years. For more info visit http://www.jiml.ac.in
It’s high time that the MBA aspirants should start focusing on the might of retailing in India. This is where the next business revolution is taking shape.
BIRLA INSTITUTE OF MANAGEMENT TECHNOLOGY (BIMTECH), GREATER NOIDA
Location: Delhi / NCR
Contact No.: +91-120-2323001-10
Email ID: firstname.lastname@example.org
Address: Plot No 5, Knowledge Park 2, Greater Noida, New Okhla Industrial Development Area, UP 201301
The fully residential campus of Birla Institute of Management Technology (BIMTECH) located in National Capital Region is one of the top MBA colleges to study in India. It provides a highly conducive academic environment, interaction with hard working and industry-academia mix professors, proximity to the strategy makers of the industry and practitioners of the service and manufacturing companies, exposure to the international universities and companies, and a ready profile of strong alumni base spread throughout the world. Among business school rankings BIMTECH makes it to the elite bracket.
Birla Institute of Management Technology was established in 1988 under the aegis of the Birla Academy of Art and Culture, and supported by Birla group of companies. Dr. (Smt.) Sarala Birla, chairperson of Birla Academy and Syt. B K Birla, chairperson of B K Birla Group of companies are the founders of the business school. The Board of Governors is comprised of eminent people from industry and headed by Smt Jayashree Mohta, Vice Chairperson, Birla Academy of Art & Culture, Kolkatta.
BIMTECH is mini India in its formation every year. It has students coming almost from all the states of India, and also from few foreign countries. BIMTECH is like a school where international business endeavors are also made. Its mix of nationalities, cultural backgrounds, academic and professional experiences make BIMTECH one of the most exciting and enriching business schools in the country. Its long belief to prepare global managers who have cross cultural training has become a practice of the globe today.
India is indicating for strong economy and DELHI (National Capital Region) is the trigger of this growth. The industrial and economic policies framed here, industrial associations meet, and CEOs evenings are all realities here and not media news. This is also one of the cultural convergence centres of India for both national and international. A location of such importance is always an asset for exposure to the real life learning and developing national and global networking. You are very well in reach; Greater Noida is hardly few miles away.
To become an extraordinary personality, you need an extraordinary Institution. BIMTECH has shown an extraordinary growth in the country in last five years.
INSTITUTE OF MANAGEMENT TECHNOLOGY CENTRE FOR DISTANCE LEARNING
Contact No.: 0120-3015465, 480, 481, 490, 492, 493, 3998021
Email ID: email@example.com
Address: A-16, Site 3, UPSIDC Industrial Area, Meerut Road, Ghaziabad - 201 003
IMT - CDL has been contributing to the educational revolution in its own way. Fully alive to the emerging challenge, the Centre has been in the forefront establishing a lead through preparing managers of tomorrow with distinct vision blended with technology and skills. The centre strives to create leaders in management and entrepreneurship by helping its students acquire the necessary skills. IMT - CDL offers a wide spectrum of management and information technology programmes. The curriculum is constantly updated to be in touch with the dynamic global and Indian environment. Learning is further enhanced by information technology that connects students to resources and data around the globe. The approach to management education is founded on continuous innovation, development of practical knowledge and a relentless commitment to academic excellence.
JAIPURIA INSTITUTE OF MANAGEMENT, LUCKNOW
Contact No.: 91 522 2394296/ 97, 9235443816
TOLL FREE: 1800 180 3444
Email ID: firstname.lastname@example.org
Address: Jaipuria Institute Of Management, VineetKhand, Gomtinagar, Lucknow-226 010.Established in 1995, JaipuriaLucknow is the first of the four Jaipuria campuses. Situated in Gomti Nagar, at the heart of nawabiLucknow, this beautiful campus offers a perfect educational environment. The institute offers four AICTE approved programmes - PGDM, PGDM (Financial Services), PGDM (Retail Management) and 3 year Part-time PGDM.
The curriculum has been developed in consultation with eminent business professionals. In keeping with the Jaipuria education philosophy, the Lucknow campus offers students not just a rich and varied dedicated faculty base but also the very best in terms of industry interface. The campus is host to a number of corporate honchos as part of regular guest lectures and management fests. Led by veteran management guru Dr. S.R. Musanna, JaipuriaLucknow is the embodiment of cutting edge holistic management education.
Jaipuria Lucknow has been rated with `A` grade areditation by NAAC (National Assessment and Accreditation Council), 5th in North India amongst Private B-Schools (Career 360 2013), 9th in North India amongst Private B-Schools (Business Today 2013), 26thby recruiters amongst India`s private B-Schools (Business World), 23rd in India amongstbest private B-Schools (NHRDN, 2013)
NITRA TECHNICAL CAMPUS (NTC)
Location: Delhi / NCR
Contact No.: +91- 9310052542,9310052543, 0120- 2783086
Email ID: email@example.com
Address: Sector - 23, Raj Nagar, Ghaziabad, 201 002 Uttar Pradesh, INDIA.
Why Choose NTC to study Fashion Retail?
*NITRA TECHNICAL CAMPUS is one of the very few institutions that offer this program in the PGDM format.
*Over 39 years of expertise in research, education and consultancy
*Faculty from Top B-schools & Fashion Schools (IMT, IIT, NIFT, DU etc) with corporate experience
*Global Exposure: Option to Study at Manchester Metropolitan University, U.K.
*Application-oriented and Activity-driven teaching pedagogy
*Round the Year Personality Development Programs
*Affordable Fee: Rs. 1.20 lac/year ONLY
*Strong Recruiters Network with over 1200 clients in India and Abroad
*50 acre Wi-Fi Campus with hostel facility for boys and girls
There are Worldwide Career Opportunities in categories such as
*Fashion Retail Entrepreneurs
SYMBIOSIS INSTITUTE OF OPERATIONS MANAGEMENT (SIOM)
Contact No.: 0253-2376107/08, 0253-2391750
Email ID: firstname.lastname@example.org, email@example.com
Address: A 23, Shravan Sector, New Cidco, Nashik- 422008, nashik, Maharashtra. Pin code- 422008
Symbiosis Institute of Operations Management (SIOM) aims towards World Class Management Programs with emphasis on Operations Management. There is a need for managers who have a deep understanding of not just the commercial aspects but also the technical technological aspects which drive business. SIOM thus emphasizes on Operations Management with its uniquely devised syllabus focusing on diverse sectors like Retail, Logistics, IT operations, Consulting, banking & Insurance and of course manufacturing. SIOM is an effort to nurture the students` mindsets and skills so that they master the ability to manage ambitious corporate growth by achieving cost excellence, acquiring market excellence rapidly, strengthening and customizing design and building global regional operating footprints.
SIOM is born out of the conviction that engineers, if forged and chiseled in an exclusive B-School environment can be outstanding Techno Business managers - professionals atop the current competitive markets with a vision for world class excellence
Contact No.: +91 657 665 3333 / +91 657 398 3333
Email ID: firstname.lastname@example.org
Address: XLRI, Circuit House Area (East),Jamshedpur 831 001, Jharkhand - India
XLRI was founded in 1949 by Fr Quinn Enright, S.J. in the Steel City of Jamshedpur. Fr. Enright visualized XLRI to be a partner in the liberation and development journey of the independent India with a vision of renewing the face of the earth. Fr. Bill Tome joined hands with him to bring that vision to fruition. Both, together with the other Jesuit companions, worked tirelessly towards translating the Vision Renewing the face of the earth into action.
The oldest management institute in India and among the top five business schools in the country- invites applications from men and women
* Aspiring to be business leaders of the future.
* Seeking firm grounding in value based management
Eligibility:- The candidate must hold a recognized Bachelors Degree in any discipline or complete by June 10, 2013.
Step 1: XAT Registration: visit www.xatonline.net.in by paying online/ by cash or demand draft.
XAT registration fee: Rs. 950/- For General candidates and Rs. 650(For SC/ST candidates)
Test Centres: XAT will be conducted in 44 cities across the country and 3 overseas centres.
Step 2: XLRI Academic Programme Registration: Visit www.XLRI.edu and register also for the required programme(s) paying online/cash or demand draft.
Fee details:For General candidatesFor SC/ST candidatesFor one programmeRs. 1050Rs. 750For more than one but maximum of three programmesRs. 1650 (Rs. 1750*)Rs. 1250 (Rs.1350*)
* With FPM as one of the choices, an additional amount of Rs. 100 has to be paid.
- or Register