Retail Management is the study of promoting and selling products and services while increasing customer satisfaction and brand loyalty. It examines the entire customer journey, from window shopping to entering the store, and buying a product. The main role of Retail Management is to ensure that shopping experiences are excellent, and buyers leave with a smile on their face.
Retail Management overlaps with other disciplines, such as Business Administration, Marketing, Logistics and Supply Chain Management, Operations Management, Fashion Merchandising, and others.
Retail Management seeks to answer questions like: Which are the best methods of promoting and displaying the merchandise? How to manage and keep shop workers involved, happy, and motivated? What systems and digital tools are ideal for organising and supervising the inventories? How to offer a great customer service experience and ensure people have access to all the information they need?
Students who enrol in Retail Management degrees take classes in Economics, Accounting, Merchandise Acquisition, Strategic Retail Promotion, Retail Technology, Data Analytics, Consumer Behaviour, Store Management, Financial Planning, etc.
Graduates in Retal Management can work as managers of hotels, catering, food and beverages companies, travel agencies, and franchise chains among many others. Examples of professional positions include purchasing manager, logistics and distribution manager, personnel manager, merchandise planner, store director or division merchandising manager.
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