Retail management is a sub-discipline of the general field of management that deals with overseeing the distribution and selling of products directly to consumers, in specific vending points such as shops, chain stores, markets and malls. Retail managers are in charge of everyday operations within a retail store or department. They plan how merchandise is promoted, organise employees, handle customer service, and supervise inventories. Retail managers also have to understand client profiles and empathise with their needs in order to adjust product supply and to anticipate demand, in order to increase profits.
Retail management is closely related to others disciplines ranging from business and international business, marketing and logistics, to supply chain management, operations management, fashion merchandising and others.
Economic colleges, management schools or business schools offer stand-alone retail management degrees, or offer Masters in Management (MiM) and Masters of Business Administration (MBA) with concentration tracks in retail management. Students will learn management models and practices, in addition to relevant marketing strategies. They will also acquire leadership, communication and decision-making skills.
Graduates in the filed 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.Read more