The MBA in Retail Management is a postgraduate Retail Management course. Retail is the exchange of goods between the seller and the buyer in a single-step interaction in small quantities. Today, retail is a booming business and requires management skills to streamline the retail process and make it more efficient.
This is where Retail Management comes in. It provides the students with a general management perspective and introduces them to the latest concepts and practices related to functional areas of management. Generally, the duration of the course is two years but in some cases, it may be more or less than this as per the respective colleges and universities.
Master of Business Administration (MBA) in Retail Management offers know-how on the management of the retail industry. This program offers training and knowledge of key managerial skills that are required to streamline the retail process. Retail Management is offered as a specialization in MBA or Post-Graduation Diploma (PGDM) programs that open up an avenue to a wide array of career opportunities in the retail industry.
MBA in Retail Management is a two-year advanced course that helps students get ready for retail jobs. They learn about things like how to make stores successful, handle money, and manage supplies and workers. After finishing, they can work in different kinds of retail places like clothing stores, supermarkets, online shops, and big retail chains. People who finish this course can earn good money in retail jobs.
Given below are a few of the important highlights of the program.
|Course Name||Master of Business Administration in Retail Management|
|Course Duration||2 years|
|Eligibility Criteria||Graduation with at least 50% and clearance of national-level management tests|
|Age||No age limit|
|Entrance Exams||CAT, MAT, CMAT, XAT, GMAT|
|Examination Type||Semester System|
|Admission Process||Based on the performance in the entrance exam|
|Skills Required||Communication skills, creative, management skills, stress management, confidence|
|Top recruiting areas||Banking Institutes, Educational Institutes, Healthcare Industry, Retail Operations, and many more.|
|Average Fees||INR 3 to 24 Lakhs|
|Average Salary||INR 50,000 - 30 LPA|
|Top recruiters||Amazon, Flipkart, ITC Retail, Reliance Group, Lifestyle International, Ebony Retail Holdings, Avenue Supermarts Ltd, and Kewal Kiran Clothing Ltd.|
|Job profiles||Sales Manager, Retail Manager, Logistics Manager, Operations Manager, Sales Head, Fund Manager, Merchandiser, Retail Executive, Advertising Manager, Administrative Officer, Regional Manager, Sales Manager, Marketing Manager, Senior Operation Manager, Store Manager, Brand Manager, etc.|
Here are certain personalized reasons why students could choose to study MBA in Retail Management:
(1). Scope of Professional Growth
The ultimate goal of any employee is professional growth dynamically. The wide range of growth opportunities allows MBA Retail Management to ensure the same, that too in varying sectors. It does not matter which sector they start with, they can always switch to a different one, build a career in the exchange or switch again. The profiles of top management assisted from the retail sector showcase a wide experience and hence make them more likely to lead successful business strategies.
(2). Huge Industrial Investments
To complete the product/service cycle, it has to reach its target consumers. Any organization, enterprise, or entity offering any product or service shall have to make investments in the area in varying ways, like direct supply, online buying, doorstep delivery, franchise stores, retail stores, etc. These settings require huge investments making the sector one of the highly invested areas of any venture. The income is similarly large and raw (as revenue), and MBA Retail Management graduates have a chance to take advantage of the same.
(3). Wide Scope of Opportunities
The perpetual relevance and bulky investments allow the MBA Retail Management to explore varying opportunities, not only in hierarchical structure but types of business and ventures they might work for as well. This technicality provides them with a chance to grow in a multi-faceted manner and build a wide range of experience, making it easier to negotiate for higher salaries and job perquisites.
(4). Build Interpersonal Skills
MBA Retail Management deals directly with consumers as well as other stakeholders, such as suppliers, distributors, franchise representatives, and store managers. It helps them build varying types of interpersonal skills like communication and leadership styles by the group dealt with.
(5). All-time Relevant Sector
MBA Retail Management deals with all the methods and measures to ensure a proper and smooth transition of products or services to the final consumer. As consumers cannot be eliminated from the market structure of any industry, so does the retail sector. Retail Management is therefore an area with perpetual opportunities and relevance.
To secure admission into an MBA in Retail Management program, the usual prerequisites involve fulfilling an application form, furnishing official transcripts, crafting a personal statement, soliciting recommendation letters, completing the GMAT or CAT, and engaging in an interview with the admissions committee. Notably, the precise admission criteria fluctuate across institutions, underscoring the necessity of diligently investigating the prerequisites of the desired programs prior to submitting your application.
MBA Retail Management programs can be applied for by interested students, albeit They fulfil the eligibility standards of the schools and b-faculties providing the same. While all schools lay out their eligibility standards independently, there was found positive commonality. Here are the basic eligibility criteria which students may expect their applying colleges to demand:
(i). They must have completed their undergraduate qualification with a bachelor’s degree.
(ii). The bachelor’s degree must have been obtained from an accredited and recognized institution, or equivalent to the establishment.
(iii). The aggregate score for the bachelor’s degree must range either in or above 50%-55%.
(iv). They must provide the entrance exam scores which are acceptable to the respective college or b-school.
(v). Their front examination rating should be equal to or greater than the cut-off rating mentioned via way of means of the respective group to make it to the subsequent spherical of the admissions process.
In management entrance exams conducted by various bodies, admission to top MBA institutions in India depends on the student's ranking. There are multiple forms of entrance exams for MBA aspirants, and they can choose the entrance exam they want to appear in depending on the level of difficulty and competition they are willing to face. The entrance exams conducted at the national and university level are as follows:
The skills required by the students would be very helpful in letting them get great jobs. They ought to construct an excellent talent set with the intention to regulate in any discipline requested. Some of the required skills are written below:
|Business handling||Organizational skills||Professional|
|Problem-solving||Time management||Decision making|
|Computer science (Software/Hardware)||Client relationship management||Leadership|
|Good listener||Problem-Solving Skills||Good communicator|
|Strong Customer Service Skills||Patience|
MBA in Retail Management is one of the most pursued courses in the country in the field of MBA specialization. The common price for the path is INR 50,000 PA - 20 LPA. Listed below are a few top MBAs in Retail Management fee structures for 2 years:
|Name of College||Fee Structure|
|LPU||Rs. 1,16,000 PA|
|AMU||Rs. 3,50,000 PA|
|IIFT, New Delhi||Rs. 7,50,000 PA|
|JMI University||Rs. 56,000 PA|
|Amity University||Rs. 7,60,000 PA|
Aspirants can pursue the route in full-time or part-time mode. Below are the varieties of MBA Retail Management publications in detail:
The two to three-year online MBA program in retail management is finished. When pursuing an MBA in Retail control after finishing a bachelor's diploma however missing the time to wait for conventional classes, distance gaining knowledge is an appropriate option.
Distance MBA in Retail Management offers flexible learning for a retail career, covering strategy, marketing, finance, and more, allowing professionals to balance study with work. Gain industry skills online and apply them practically, enhancing your retail expertise.
A part-time MBA in Retail management program is offered for students who are unable to attend regularly scheduled classes. Two years are spent on the course. Enrolling in a part-time course while concurrently working, attending school, etc. is practical for students.
The business aspects of retail management are covered in the MBA Retail Management curriculum. The table that follows compares extra courses to the MBA Retail Management program.
MBA Retail Management v/s M. Sc. Fashion Merchandising and Retailing
Below is a comparison between the MBA in Retail Management and the M. Sc. in Fashion Merchandising and Retailing:
|MBA Retail Management||M.Sc. Fashion Merchandising and Retailing|
|Course Name: Master of Business Administration Retail Management||Master of Science in Fashion Merchandising and Retailing|
|Duration: 2 Years||2 Years|
|Eligibility Criteria: BBA or Bachelor in a relevant field with 50% total aggregate.||Bachelor’s in relevant field with 50% total aggregate.|
|Course Stream: Management||Science|
|Fees: INR 50,000-30,00,000 PA||INR 5,00,000-14,00,000 PA|
|Entrance Exams: CAT, XAT, MAT, and GMAT||Merit-based|
|Top Colleges: IIFT, Amity University, JMI, LPU||NIFT, Sharda University, Amity University|
The MBA program aims to give students experience in a range of industries. It is typically divided into two sections, the first of which concentrates on specialization and the second of which concentrates on general management or business administration. Students often have the option of choosing between core and elective programs in their first and second years.
|MBA in Information Technology||MBA in Biotechnology Management|
|MBA in Communication Management||MBA in Data Analytics|
|MBA in Agriculture & Food Business||MBA in Business Analytics|
|MBA in Event Management||MBA in Digital Marketing Management|
|MBA in Aviation Management||MBA in Business Economics|
|MBA in Fashion Designing||MBA in Disaster Management|
|MBA in Banking & Finance Management||MBA in Communication and Media Management|
|MBA in Computer Application||MBA in Entrepreneurship|
|MBA in Environmental Management||MBA in Hospital Administration|
|MBA in Banking and Insurance||MBA in Retail Management|
|MBA in Finance||MBA in Hotel Management|
|MBA in International Business||MBA in Hospitality Management|
|MBA in Finance & Accounting||MBA in Human Resource Management|
|MBA in Laboratory Management||MBA in Corporate Social Responsibility|
|MBA in Healthcare & Hospital Management||MBA in Information Technology|
|MBA in Logistics and Supply Chain Management||MBA in Disaster Management|
|MBA in Marketing Management||MBA in Petroleum and Oil Gas Management|
|MBA in Pharmaceutical Management||MBA in Project Management|
The best colleges for MBA in Retail Management provide students with a strong education to excel in retail careers. These programs cover important subjects like retail strategy, marketing, finance, supply chain management, human resources, and business analytics. Students also get practical experience through internships and real-world case studies.
Here are some of the top colleges for an MBA in Retail Management:
|Name of College||Average total fees(INR)|
|International Institute of Business Studies, Bangalore||INR 3,80,000|
|NIMS University, Jaipur||INR 1,50,000|
|ITM Business School, Mumbai||INR 10,00,000|
|GEMS B School, Bangalore||INR 2,50,000|
|Birla Institute of Management and Technology, Greater Noida||INR 9,00,000|
|Amity University, Noida||INR 7,00,000|
|IBMR Business School, Gurgaon||INR 3,00,000|
|SDA Bocconi Asia, Center Mumbai||INR 18,50,000|
|Symbiosis Institute of Management Studies, Pune||INR 10,00,000|
|International Institute of Management Studies, Pune||INR 7,00,000|
|Shailesh J. Mehta School of Management (IIT Bombay), Mumbai||INR 8,50,000|
|Jagan Institute of Management Studies, Rohini||INR 8,00,000|
|Narsee Monjee Institute of Management Studies, Mumbai||INR 9,50,000|
|Asian School of Business Management, Bhubaneswar||INR 3,00,000|
|KJ Somaiya Institute of Management Studies and Research, Mumbai||INR 13,50,000|
|Apeejay School of Management, Delhi||INR 7,50,000|
|DAV Institute of Management, Faridabad||INR 45,000- 50,000|
|Jaipuria Institute of Management, Noida||INR 10,00,000|
|Prin L N Welingkar Institute of Management Development and Research (WE School), Mumbai||INR 11,00,000|
|Footwear Design and Development Institute, Noida||INR 4,00,000|
Around 3000 schools are supplying MBA in Retail Management in India. Listed below are the top colleges offering MBA in Retail Management according to NIRF:
|Name of College||Average Fees||NIRF Ranking|
|IIM Calcutta||INR 27,00,000 PA||3|
|IIM Lucknow||INR 19,25,000 PA||4|
|IIFT Delhi||INR 7,50,000 PA||7|
|XLRI Jamshedpur||INR 25,80,000 PA||9|
|SIBM Pune||INR 15,32,000 PA||22|
|JMI New Delhi||INR 56,000 PA||34|
|Amity University Noida||INR 7,60,000 PA||41|
|LPU||INR 1,60,000 PA||49|
|IMI Bhubaneswar||INR 11,79,000 PA||63|
India is home to some of the best institutions for MBA in Retail Management in India. Check the table below for the top city-wise MBA in Retail Management in India:
|Name of City||Name of College|
|Vishwa Vishwani Institute of Systems and Management|
|Kolkata||Pioneer College of Management|
|Sister Nivedita University|
|Bangalore||Xavier Institute of Management and Entrepreneurship|
|Jagdish Sheth School of Management|
|Indus Business Academy|
|Mumbai||Vivekanand Business School|
|Kohinoor Business School|
There are a whole lot of areas where a can look for career building, such as brand marketing, operations, supply chain, and logistics. There is a high demand for candidates with MBA in Retail Management specialization in the private as well as government sectors. Jobs roles include product manager, marketing executive, sales manager, merchandiser, sales executive, store manager, etc. MBA in Retail Management job profiles can be of two types – front-end and back-end.
(1). In the front end, profiles include counter selling, visual merchandising, and designing, store operations management, shopper experience management, category management, store promotion management, store brand management, private label management, etc.
(2). In the back end, profiles comprise logistics, CRM/E-CRM, E-Retailing, Retail Analytics, etc.
Some of the top job profiles in the retail management field are:
|Job Profiles for MBA in Retail Management||MBA in Retail Management Job Description|
|Marketing Manager||As a marketing manager one supervises and helps in creating sales campaigns. A manager must incorporate the inputs from sales, creative, advertising, and research teams. A marketing manager must possess the skill of organization.|
|Operations Manager||An Operations Manager acts as a leader in the organization. They have the authority to make policies, plans, and strategies for the organization.|
|Administrative Officer||An Administrative Officer answers the phone calls and responds to queries through the mail. They also prepare the reports and the budgets for the year.|
|Brand Manager||A brand manager manages and controls the way a brand is exposed to the public. To drive marketing initiatives and advertising, a brand manager ensures to get a positive response to the brand from consumers.|
|Advertising Manager||An Advertising Manager has to look into the operations of the advertising department. They have to coordinate with the staff, clients, and ad agency to meet the goals and budgets on a timely basis.|
|Store Manager||As a store manager, one oversees operations in a retail store. Store managers ensure that the sales are reconciled daily, with deposits arranged. The store manager must overlook merchandise restocking, customer satisfaction, general upkeep, and cleanliness.|
|Sales Manager||A Sales Manager manages the income of a service or product presented via way of means of the employer via way of means of growing techniques for income, revenues, and expenses.|
|Senior Operations Manager||As a senior operations manager, one oversees the organization's services and/or production of goods. They oversee various departments and makes sure that the company's services and products meet the expectation of clients or customers. The operations manager ensures that the company's operations run effectively and smoothly.|
|Retail Executive||A Retail Executive takes the major decisions for a store and its chains. They lead different types of businesses like the selling of electronics, clothes, or even automobiles.|
There are many job sectors and recruiters who recruit these graduates for work. Some of the top recruiters in the retail management sector are:
|RPG Retail||Future Group||Aditya Birla Group|
|Supermarkets||GSK Pharma||Big Bazaar|
|Taj Group of Hotels||Havells Limited||Blue Star|
|Wills Lifestyle||HP||Colleges & Universities|
|Ebony Retail Holdings||Reliance Group||Philips India|
MBA in Retail Management Salary in India average falls under INR 50,000 - 30 LPA. An early career Retail Manager with 1-4 years of experience earns an average total INR 1.5 - 3 LPA salary based on graduates' skills.
Salaries are usually given based on the work one does. It may be high for the higher position people while low for the new graduates. But the new graduates can increase their pay by getting promotions and bonuses for the extra number of hours they work.
Some of the job profiles are given below with their salary:
|MBA Retail Management Job Profile||MBA Retail Management Salary PA|
|Store Manager||Rs. 4,50,000-5,50,000|
|Operations Manager||Rs. 10,00,000-11,00,000|
|Senior Operations Manager||Rs. 11,50,000-12,50,000|
|Sales Manager||Rs. 9,00,000-10,00,000|
|Marketing Manager||Rs. 6,50,000-7,55,000|
|Retail Executive||Rs. 12,00,000-13,00,000|
|Administrative Officer||Rs. 5,00,000-6,00,000|
|Brand Manager||Rs. 9,00,000-10,00,000|
|Advertising Manager||Rs. 5,00,000-6,00,000|
After pursuing MBA in Retail Management, candidates can opt for a Ph.D. course in the field of Management. Ph.D. After MBA provides the opportunity to conduct research, conduct an in-field study of concepts and specializations for students. Pursuing research during Ph.D. after MBA leads to awareness of new business insights and trends worldwide, which helps in managing business more efficiently in the field of retail management.
Some of the job profiles that they can opt for are our Retail Executive, Advertising Manager, Administrative Officer, and Sales Manager, among others. With experience in the field, they can expect an increment in their salary.
An applicant with a master’s degree in retail management would have a lot of opportunities. The following are some of the most common work opportunities along with their average salaries/earnings in INR:
|Job Roles||Average Salary in INR|
|Store Manager||INR 3,00,000-5,00,000|
|Brand Manager||INR 9,00,000-10,00,000|
|Senior Operations Manager||INR 12,00,000|
|Marketing Executive||INR 2,00,000-5,00,000|
|Marketing Manager||INR 7,00,000-8,00,000|
|Brand Manager||INR 6,00,000|
|Department Manager||INR 3,00,000-5,00,000|
|Retail Manager||INR 3,00,000-5,00,000|
The MBA in Retail Management scope is huge due to the needs of the current modern world. In today's world, we can see a lot of retail stores compared to the olden days. There are more malls, supermarkets, retail stores, online retailers, and much more. And people prefer to order online and get home delivery to save shopping time. Due to more responsibility and demand, there are more career gateways open in this sector. Some MBA in Retail Management jobs profiles are as follows:
|Marketing Manager||Brand Manager|
|Retail Manager||Sales Manager|
Retail Managers need a host of leadership skills to carry out a management strategy so that their stores can improve sales. Retail industry employers are looking for a flexible, well-rounded candidate who has a wide variety of transferable skills, is adaptable, and has a good understanding of the industry. Here are some of the MBA in Retail Management skills:
|Computer science (Software/Hardware)||Communication|
|Time management||Decision making|
|Client relationship management||Business handling|
(1). What is MBA in Retail Management?
Ans. MBA in Retail Management is a course where students are trained and prepared for their field in the retail sector and industry. The curriculum provides instruction and knowledge of crucial managerial abilities needed to simplify the retail process.
(2). Is Retail Management a good career to pursue?
Ans. There is an utmost need for skilled professionals to meet the increasing demands of professionals in the field of the Retail industry, Therefore, the number of jobs and positions in this field will increase to double in the upcoming time. In terms of career growth, the opportunities are numerous, and the average salary that you can get after this course is around INR 3-8 LPA.
(3). Is it necessary to pursue MBA in Retail Management to get into the field of this industry?
Ans. No, it's not compulsory. Anyone with an interest in the field of retail management can achieve the desired job. Having a degree in the same field may increase the chance of being selected.
(4). What is the main goal of an MBA in Retail Management?
Ans. All the actions necessary to attract customers to the store and meet their shopping demands are included in retail management. Retail management guarantees that clients have a pleasant shopping experience and that they leave the store smiling.
(5). What is the average fee to pursue MBA in Retail Management?
Ans. The average fee ranges from around INR 2,00,000.
(6). What is the average salary of an MBA in Retail Management graduate?
Ans. The salary ranges from Rs 8-10 lakh per annum.
(7). What is the MBA Retail Management eligibility?
Ans. To be eligible for MBA in Retail Management, one must have completed their graduation degree in any stream with a minimum aggregate of 50% marks and have a valid score on any entrance exams such as CAT, GMAT, MAT, etc.
(8). What does project work involve in an MBA Retail Management program?
Ans. The mission paintings protected inside the MBA Retail Management syllabus include studies paintings and presentation of the same by using course study knowledge and skills to research an organizational circumstance. This organization could be hypothetical or real, and the situation as well could be hypothetical or real. Students need to make bigger strategies and the execution framework for the same in the given situations and again them with reliable, rational, and logical outcomes.
(9). What are some of the entrance exams for an MBA in Retail Management?
Ans. The entrance exams for admission to MBA in Retail Management are CAT, XAT, CMAT, MAT, SNAP, etc.
(10). What are some of the good companies that hire MBA Retail Management graduates?
Ans. There are many MNCs and Indian firms doing exceptionally well in the field of retail management. Some of them are Lifestyle, Max, Reliance, Aditya Birla, Big Bazaar, Central, Shoppers Stop and Spencer, etc.
(11). Does IGNOU offers MBA Retail Management programs?
Ans. Yes, IGNOU offers MBA Retail Management programs. Indira Gandhi National Open University is famous and well-known for the various sorts of distance getting-to-know courses. They are pretty useful to college students who desire to advantage better schooling but are held returned because of positive circumstances. Among the various MBA programs, MBA in Retail Management is also one.
(12). What are some of the famous colleges for an MBA in Retail Management in India?
Ans. Here are some of the famous MBAs in Retail Management colleges:
(i). International Institute of Management Studies, Pune
(ii). Jagan Institute of Management Studies, Rohini (JIMS Rohini)
(iii). Amity University, Noida
(iv). ITM Business School, Navi Mumbai
(v). Chetana's Institute of Management and Research, Mumbai (CIMR)
(13). Is it worth studying MBA in Retail Management in India?
Ans. Yes, studying MBA in Retail Management in India offers a wide range of job options in India as well as Abroad with higher salaries and helps in developing Management and entrepreneurial skills. Apart from this, the average fees for MBA Retail Management in India are less compared to many other countries.
(14). Can I work in the medical sector after graduating with an MBA in Retail Management degree?
Ans. Yes, you may paint inside the scientific region after graduating with an MBA in Retail Management degree. Even inside the clinical quarter pharmaceutical companies, the connecting agents, or even the medical institution branches require retail control experts to make sure the right functioning. Additionally, there are various authorities jobs additionally available, because of the world being public and social welfare-oriented.
(15). What is the scope of doing an MBA retail management course?
Ans. Considering the fact that India is a developing economy and retail has a bright future. It offers a large opportunity for hooked-up and newly hooked-up retail firms. The sector requires a large number of managers in different portfolios in the retail segment. To expand into the rural belt, companies need operations managers in good numbers.
(16). Is it necessary to have a UG degree in the retail management domain to pursue MBA in Retail Management?
Ans. No, It's not necessary to have a UG degree in the same domain. However, having a Retail Management degree will give me the upper hand.