MBA in Retail Management - 2023-24

The Master of Business Administration (MBA) in Retail Management program provides expertise in retail management. In order to streamline the retail process, this program provides training and knowledge of basic management skills.

The program teaches students the fundamentals of retail management and equips them with the skills to handle retail business at the management level. The course covers all aspects of the retail industry, from purchasing goods from manufacturers to placing them on store shelves.

Retail management involves many stages, from manufacturing the product, transporting the product, and logistics to placing the finished product in the store where customers can buy it. In short, a retail manager ensures that the retail process continues without a hiccup and that customers can purchase the necessary items.

Also, students learn various strategies to streamline the retail market through a specialized MBA program in Retail Management. Additionally, it instructs individuals on enhancing the retail process by facilitating the integration of software necessary for retail operations.

ShikshaGurus Methodology of curating MBA in Retail Management 

ShikshaGurus is a platform where students can find various online and distance learning courses from the best universities in India. Our team of experts and professionals carefully chooses all universities; only UGC-approved Universities are on our platform. Using the platform, the student can get the desired course details, compare the course with similar courses offered by other universities and finally choose the best-suited university from the available options.

Further, the program is a specialized program that trains students to become experts in the retail industry or better future professionals in charge of developing retail strategies and policies.

Top Universities offering the program

Some of the Top Universities (UGC approved) offering MBA in Retail Management:

Top Career options after MBA in Retail Management 

The retail sector comprises numerous businesses that provide opportunities for individuals to search for job positions post-program. Further, there are several e-Commerce companies, where candidates can apply after an MBA in Retail Management:

  • Retail manager: The retail manager is responsible for the day-to-day operation of the store. Also, they devise strategies to maximize sales while minimizing costs and ensuring everything runs smoothly.
  • Store Manager: The store manager’s responsibilities are to develop strategies to increase traffic, expand the store chain, and measure customer satisfaction.
  • Supply Chain Manager: They are in charge of strengthening and managing the company’s product supply chain. They ensure that products arrive on time. They are trying to make the supply chain more capable and efficient while reducing logistics costs.
  • Brand Director: The brand director is responsible for creating methodologies for building the brand on sight. Further, whenever an organization sends out another brand, its prosperity depends on the methods of the brand supervisor, often called a “brand guardian” or “brand developer”. MBA in Retail Management offers you a skill set for being a brand director.
  • Product manager: The core team of every company includes a product manager. Also, they are involved in every stage of product development, from designing new products to bringing them to market.
  • Marketers: Marketers are responsible for ensuring that the right store or website sells the right products at the right time in quantity. Also, they work with the Supply Chain Manager to plan, schedule and maintain inventory.
  • Marketing Executive:  They research the market and devise marketing strategies based on customer requirements. This tactic allows the company to better promote its goods, ideas or services.

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Frequently Asked Questions (FAQs) - MBA in Retail Management

Yes! The market for online retailing is expanding at a remarkable pace, with approximately a quarter of all retail sales now taking place online.

Yes! According to Statista, a market data provider, retail sales through smartphone online transactions exceed $345 billion in 2022.

The salary post MBA Retail management depends on various factors such as University, skill-set, location, company among other factors. However, a general estimate of retail professionals at different career levels is mentioned below –

Experience Level Average Salary (in INR Lakhs per annum)
Freshers (0 years) 4 to 7 LPA
3 years experience 7 to 10 LPA
5 years experience 10 to 14 LPA
7 years experience 14 to 20 LPA
10 years experience 20 LPA and above

 

 

Salaries for those who graduate with an MBA in retail management typically range from 3 lacs to 6 Lacs pa and vary based on the institution attended and the employing company. Further, as you gain experience, the salary also increases.

The most popular MBA colleges for Retail Management are:

  • NMIMS Mumbai
  • DY Patil University Mumbai
  • Manipal University Jaipur
  • Amity University
  • SCDL Pune

The MBA Retail from IGNOU is good but tough to clear. Further, the MBA in Retail Management from Indira Gandhi National Open University (IGNOU) is a 2-year PG program in which you will learn about retail concepts, marketing, merchandising, label management among other topics.

Distance learning and online universities accept students for MBA retail with 50% marks in graduation. Furthermore, a further 5% relaxation in eligibility is given to candidates from reserved category.

For Distance learning and Online universities, the fees range of MBA retail is around 60K to 4 lakhs. However, for regular universities the fees for MBA Retail is in the range of 4 lakhs to 12 lakhs.

Retail is one of the fastest growing sector in India. Further, with a large middle class base and the growth of e-commerce, retail has become one the brightest sector in India.
With an MBA in Retail students can take benefit of this massive surge of growth in the retail sector.

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