A Store Manager, also known as a Retail Manager is a professional responsible for the supervision of the outlet or store they are working in. Store Manager is one of the most common professions in the world, with more than 2 million job opportunities worldwide.
To become a Store Manager, aspirants can pursue a degree in Business, Management Studies, or Retail Management from Top Business and Management Colleges in India. There are quite a few reputed colleges in India that offer retail management courses like IIM Bangalore, Indian School of Business Hyderabad, Faculty of Management Studies Delhi, MICA Ahmedabad, and many more. The average course fee for retail management courses in India is INR 10,000 - INR 7,00,000 (approx.).
Apart from academic qualifications, Store Managers are required to know about the employees, sales, maintain statistics, manage budgets, management of resources, etc. Students who pursue their career in the field of retail management secure an extensive piece of knowledge about the concepts of retail management, pricing and merchandising, relationship marketing, and so on.
With the continuous expansion of the retail industry, there is a growing demand for Store Managers to help generate more sales and offer customer satisfaction. Department stores, export houses, retail outlets, manufacturers, and other similar businesses may offer attractive work chances to these people. The average starting salary for such jobs is usually between INR 2 – INR 5 lakhs annually (approx.). Check: Store Manager Salary
- Quick Facts for Store Managers
- What Does a Store Manager Do?
- Steps to Become a Store Manager
- Types of Store Managers
4.1 Retail Buyer
7.1 Diploma in Retail Management
7.2 PG Diploma in Retail Management
8.1 USA
8.2 Canada
8.3 UK
- Benefits of being a Store Manager
- Skills required to become a Store Manager
- Salary of Store Managers in India
11.2 Specialisation wise
11.3 Experience wise
Quick Facts for Store Managers
Industry | Retail Industry |
Eligibility | They must have a bachelor's degree in any retail management courses from a recognized college or institute. |
Average Starting Salary | INR 2-5 lacs (approx.) |
Employment Opportunity | Retail Managers, Warehouse Managers, Department Managers, Supply Chain Distributor, Retail Merchandiser, etc. |
What Does a Store Manager Do?
A Store Manager is given the responsibility to keep a check over the regular operations that take place in a store and also ensure that these operations are carried on in an effective and smooth manner.
- Motivating sales teams, formulating business plans, designing promotional materials, and training new employees are among their responsibilities.
- Their major responsibilities include the delivery of commendable services so as to ensure customer satisfaction, creation of business strategies to attract more and more customers, preparation of detailed reports on customer requirements as well as latest trends, monitoring the inventory stocks and ordering if any requirements and so on.
- Retention managers keep in frequent contact with customers and staff when on the shop floor. Those interested in merchandise, market & marketing, sales, advertising, campaigning, and market research should pursue a career in retail management.
Steps to Follow to Become a Store Manager
To be a store manager, there are some important steps that a candidate should take. Selection to a good college, preparing for entrance examinations, etc are some of the things aspirants must remember. Check the below section to gain a fair idea.
Make a Decision
- It is very necessary to make a proper decision before you start your career on the specific discipline you want to pursue.
- Before being a store manager, it is necessary for you to introspect yourself, and understand what are the related fields that you have an interest in, and take it as a subject combo in your 12th standard. Also, examine the courses you’re eligible to become a store manager.
- Be it any profession, or being a store manager, you must work hard to achieve your dream, and also have dedication in your mind to execute your plans. And also be ready to work in different conditions, which you may not be familiar with before.
- Hence making a good decision is necessary about your course. It will also be impactful on the work you do to pursue your career. Choose wisely, whether you want to go for a certificate, diploma, or bachelor’s courses, and also higher education.
Choose the correct subjects
- Although there are no specific degrees to become a store manager, recently there has been a demand for store managers who are proficient in business, management and general finance.
- Individuals with a degree in Business, Management or Finance have a higher chance of getting hired than aspirants having any normal degree.
- Candidates should have a good command of English and Hindi language.
- Apart from academic qualifications, some work experience or training in managing stores would be beneficial.
Prepare for Entrance Exams
- After the completion of 10+2 exams, candidates must definitely look for entrance exams, and prepare for it. These entrances will begin their career of being a store manager from a recognized educational institute.
- As business and management studies are one of the most important subjects in the path of being a store manager, candidates can look for various entrance exams, which are conducted based on this. CAT, MAT, XAT, GMAT are the significant ones among them. Try to crack them by beating their cut off in the exam.
- Try to solve previous year’s questions if available, look for multiple books regarding these exams, and also you can take help of an experienced person, who has come through this recently.
Choose the correct College
If you aspire to get admission in a recognized, as well as in a well-known college, then scoring good marks in the entrances is necessary.
According to many experts, it is good to get admission in the prime government colleges, as they are simple, good lab facilities, as well as bear a lower course fee.
- Check the best colleges for being a store manager on the internet, and go through their placement opportunities, fee structure, which helps to understand how good that college is.
- Also make a note on the necessary documents you need during the time of admission process, which includes birth certificate, entrance exam valid scores, caste certificate, identity proof, and many more.
- Also have a look on how good the faculty of that college is. A good faculty matters the most which makes that particular course best in that college.
After Qualifying Entrance
Colleges will pick up candidates and allot them based on the merit in their entrance exams. After this process, and getting admitted to the college, is the start of the journey to pursue your career. Bachelor’s degree in any relevant stream will vary from 3 to 4 years, which needs a lot of commitment.
- Before this, candidates must sit for that entrance exam, and qualify for admission, after scoring more than the cutoff figures, which is set by the authority.
- Final selection will be based on the candidate's efficiency in the interview phase, and how the candidates’ present themselves in group discussion.
- It is recommended to join internships, if available in the college, which will help you to gain work experience. This will also help you to deal with your future endeavors, as this working experience will be added to your resume.
Types of Store Managers
A Store Manager may choose to work in different specialties available in the field of Retail Management. The following is a list of the various types of Store Managers:
Retail Buyer
- These individuals are in charge of creating, sourcing, and presenting product chains based on the company's stores and consumer base.
- They are in charge of the planning, management, selection, and purchase of commodities and commodities for retail stores.
- They look for new products and evaluate old ones in order to keep the store competitive.
Profession | Average Salary (Pay Scale) |
---|---|
Retail Buyer | INR 8,09,877 per year |
Warehouse Manager
- Such professionals are in charge of ensuring that receipts are secure and efficient, as well as overseeing personnel and transferring warehouses.
- The warehouse manager is in charge of all activities at that location, which frequently include monitoring team performance, expediting products receiving and shipping, and guaranteeing efficient, well-organized storage.
Profession | Average Salary (Payscale) |
---|---|
Warehouse Manager | INR 4,93,779 per year |
Department Manager
- A department manager is in charge of the entire sales department's activities, oversees the workforce, and develops productivity-boosting techniques.
- Recruiting and dismissing employees, defining and working toward strategic departmental goals, and managing a departmental budget is among their key responsibilities.
Profession | Average Salary (Payscale) |
---|---|
Department Manager | INR 3,53,084 per year |
Retail Merchandiser
- A retail merchandiser's job is to make sure that the proper amount of merchandise is available in the store and that it is sold at the proper price.
- Merchandisers assist businesses in increasing sales and profitability by ensuring that retail and online stores are supplied with the correct products in the proper quantities. Stocking shelves, arranging and maintaining product displays, pricing things, and keeping track of store inventories are all examples of this.
Profession | Average Salary (Payscale) |
---|---|
Retail Merchandiser | INR 3,67,888 per year |
How to be a Store Manager in India?
If you want to work as a store manager, you'll need to make a decision regarding your professional path ahead of time. This decision begins in the 12th grade when you must select what your future steps will be if you choose to become a shop manager.
School Level Preparation
- Now that you've decided to pursue a career in retail management, your training for it begins while you're still in high school.
- If you want to be a store manager, it's best if you have a Commerce stream. Along with the Entrance Exams, you should also check for courses offered in this discipline at the undergraduate level while studying for your Board Exams.
- Most institutions that offer undergraduate quality engineering programmes use a merit-based admissions system, so do well on your Board examinations to meet the universities' cut-offs.
How to Become a Store Manager after 12th?
In order to become a store manager in India after completing the 12th grade, students must follow a set of procedures that will bring them to that goal. For your convenience, the following steps are listed below:
UG Level Preparation
- After high school, they can pursue a Bachelor's degree or simply a Certificate in Retail Management.
- Despite the fact that retail management is a rapidly growing industry, just a few universities offer degree programmes in the discipline.
- When looking for schools and universities, look for programmes in science and engineering that are well-known.
- Internships in the relevant field may be available during your undergraduate degree, allowing you to gain valuable job experience in a real-world situation.
PG Level Preparation
- Begin your career as a store manager after completing your bachelor's degree.
- With a master's or doctoral degree in retail management, you can advance your career, teach at a college or university, or even establish your own company.
- As a PhD student, your research field will advance. These advanced degrees can help you improve your ability to develop engineering-based solutions to quality-related issues.
Courses to become a Store Manager
Here are some of the best courses that an aspirant can pursue to become a store manager.
Diploma in Retail Management
A Diploma degree in Retail Management is usually a course of a year.
- It mainly focuses on teaching the students about a comprehensive view of retailing, analysis of retail environment, developments in the industry, addressing the concerned issues and so on.
- This course covers marketing fundamentals such as marketing strategy and planning, product policy, distribution, promotion, segmentation, and pricing decisions. Those who hold this diploma will be able to work in retail management positions.
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Store Manager, Senior Sales Manager, Manager Operations are all possible career paths for students who pursue this particular course.
Eligibility Criteria for Diploma in Retail Management
For your convenience, the following eligibility criteria for admission to Diploma Retail Management Courses are listed below:
- Candidates must have passed their 10+2 examination with at least 50% marks in total. The degree must be obtained from a recognised school or institute.
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They must have compulsorily studied Mathematics at their 10+2 level.
PG Diploma in Retail Management
PG Diploma in Retail Management is a 1 year post graduate diploma course in the field of Retail Management that focuses on the principles of retail management and marketing.
- The course will provide you a broad understanding of the concepts and processes that are involved in retailing and related industries.
- In this course, the students are taught about various topics such as consumer behaviour, sales, and marketing management, supply chain network, and electronic commerce, etc.
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This is an excellent course for students who enjoy being surrounded by brands, want to become entrepreneurs, have managerial skills, and are creative and professional.
Eligibility Criteria for PG Diploma Retail Management
For your convenience, the following eligibility criteria for admission to PG Diploma Retail Management Courses are listed below:
- Candidates must have passed their undergraduate qualifying examination with at least 50% marks in total. The degree must be obtained from a recognised school or institute.
- The degree must be in the same field or a relative one.
BBA in Retail Management
BBA in Retail Management is a 3-year undergraduate course that focuses primarily on the retailing operations and its principles that include Merchandising, Buying, Inventory Control, Marketing and so on.
- Within these 3-years, the students acquire an extensive piece of knowledge about various aspects of retail management such as Retail Customer Service, Accounting, Marketing, Store Location and Management, Retail Supply Chain Management, etc.
- At the successful completion of the course, these graduates can further get commendable employment opportunities.
- They may get hired as Store Managers, Merchandisers, Fashion Purchasing Managers, Sales Managers, etc. the average initial salary secured by such professionals ranges between INR 5-20 lacs (approx.).
Eligibility Criteria for BBA in Retail Management
For your convenience, the following eligibility criteria for admission to BBA in Retail Management Courses are listed below:
- Candidates must have passed their 10+2 qualifying examination with at least 50% marks in total. The degree must be obtained from a recognised school or institute.
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The applying candidates must have had a Commerce Stream at their 10+2 level.
MBA Retail Management
This is a postgraduate degree course of 2-years that aims to provide the students with a sufficient amount of knowledge about managerial skills, thinking of innovative ways to cope up with the issues related to the retail procedures, developing creative thinking skills and much more.
MBA (Masters of Business Administration) Retail management is a branch of management that deals with the various facets of retailing. It is focused on the most up-to-date management principles and techniques. This course is ideal for students seeking career flexibility in the form of a job or a business of their own. This course is for students with critical thinking abilities, rapid decision-making abilities, and problem-solving skills who want to improve their capabilities.
At the successful completion of the course, these graduates are in high demand in industries such as restaurants, logistics, banks, warehouses, book stores, cafes, shopping malls, multiplexes, airlines, insurance, and advertising agencies.
Eligibility Criteria for MBA in Retail Management
For your convenience, the following eligibility criteria for admission to MBA in Retail Management Courses are listed below:
- Candidates must have passed their undergraduate qualifying examination with at least 45% marks in total. The degree must be obtained from a recognised school or institute.
- Candidates from all walks of life are encouraged to apply for this course.
Admission Process
The admission process for the above-mentioned courses is the same. Check them below.
- Candidates have to first apply for the entrance exam, they want to sit in the official website of the exam authority.
- After qualifying, they have to apply for the specific college they have to go for, on their official website.
- Candidates need to fill the application form, by providing the necessary details, and have to submit the valid scores they have gained in the entrances.
- Seat allotment will be done accordingly, based on their rank in the merit list.
Entrance Exams
The entrance exams stated below are applicable for all the courses mentioned above.
Particulars | CAT | MAT |
---|---|---|
Application Date | August – September, 2023 |
February 21, 2023 February 27, 2023 February 14, 2023 |
Admit Card Release Date | October, 2023 (Expected) |
February 24, 2023 March 2, 2023 February 15, 2023 |
Date of Exam | November 26, 2023 |
February 26, 2023 March 4, 2023 February 19, 2023 |
Date of Result | January, 2024 (Expected) | - |
How to Apply for the Entrance Exams?
The procedure for applying to the entrance exams conducted for admissions to Diploma Retail Management Courses has been listed below for your reference:
- Students must go to the official website and register in order to receive the most up-to-date information on the tests.
- When the application forms are made available, they must complete them with all of the requested information.
- Following the examination, a cutoff list will be posted on the website. Following that, seats will be given to candidates depending on their admission exam scores.
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There are also colleges that hold personal interview rounds and group discussions for candidates who pass the exams and meet the cut-offs.
How to Prepare for the Entrance Exams?
The following are some helpful hints for planning for Retail Management Courses entrance exams:
- Academic records, a written examination, and a personal interview are utilised to narrow down the contenders.
- The complete syllabus of the entrance exam that students will be taking should be acquainted with them.
- Students might consider acquiring research resources or previous year question questions and practising them in order to prepare for the Diploma Retail Management entrance exams.
How to Become a Store Manager Abroad?
Candidates can also pursue store manager as a career abroad. Check out the details below, on how to become a store manager abroad in the USA, UK, Canada.
USA
- If you want to pursue a career in Retail Management and become a Store Manager abroad, the United States is an excellent choice.
- For students who want to become Store Manager in the near future, there are increasing opportunities in the field of Retail Management.
- The majority of Store Managers work full-time, though part-time or temporary work may be available depending on the employer's and the store's size.
Admission Process
Check out the admission process for pursuing retail management courses in the USA below.
Educational Requirements
- The students are required to mention their marks obtained in the 10+2 qualifying exam.
- They must provide the marks obtained by them in the English proficiency tests like TOEFL or IELTS.
Other Requirements
-
Letters of Recommendation
Top Colleges
Name of Institute | Courses | Fees |
---|---|---|
Golden West College | Certificate Degree in Retail Management | INR 5,86,843 |
Shoreline Community College | Retail Management AAAS | INR 7,57,926 |
Arizona State University | BA in Business - Retail Management | INR 10,34,143 |
Simmons University | BSBA in Retail Management | INR 32,53,600 |
Syracuse University | Retail Management - BS | INR 43,22,470 |
Central New Mexico Community College | Business Administration in Retail Management Concentration | INR 6,18,861 |
Mira Costa College | Associate in Arts Degree in Retail Management | -- |
University of Cincinnati | Post-Baccalaureate Certificate in Retail Management | INR 23,07,547 |
Canada
- Now when it comes to studying abroad, Canada is amongst the most chosen countries for the same.
- Also, the education provided over here is famous among students due to several reasons. With nearly 2 million employees, retail is the largest employment sector in Canada.
- Retail is becoming a world of extremes. Market share expansion focuses on either high-end luxury markets or value-based discount markets.
- By 2026, 102,000 new retail management jobs are expected to be created. Hence, studying Retail Management Courses in Canada surely has benefits in the near future
Admission Process
The admission requirements listed for Retail Management courses in Canada have been listed below for your reference:
Educational Requirements
-
Ontario Secondary School Diploma (OSSD) or equivalent-with 6 U or M credits in Grade 12 AND one of the following:
Other Requirements
- Proof of Maturity
- Undergraduate Degree or even a Diploma Degree
- 1 year work experience in the retail industry
Top Colleges
Name of Institute | Courses | Fees |
---|---|---|
Centennial College | Diploma in Fashion Business and Management | INR 10,18,274 |
George Brown College | Fashion Management Program | INR 8,99,274 |
Fashion Business Industry Program | ||
International Fashion Management Program (PG Degree) | ||
University of Alberta | BSc in Fashion Business Management | INR 18,17,027 |
Conestoga College | Ontario College Diploma in Business - Purchasing | INR 7,69,927 |
University of Fraser Valley | BBA Trades Management | INR 9,31,303 |
Ryerson University | B.Com (Hons.) in Retail Management | INR 20,50,838 |
York University | MBA in Global Retail Management | INR 48,08,038 |
Fanshawe College | Diploma in Fashion Marketing and Management | -- |
UK
- The UK is indeed a good choice if you wish to study Retail Management Courses and work as a Store Manager.
- Following completion of a retail management degree, a variety of job opportunities in a variety of sectors are available in the UK.
- The retail industry is vast and vital to the UK economy, employing over three million people.
- With an average starting salary of £30,000, the retail sector in the United Kingdom pays some of the highest graduate starting salaries. Some retail employers, on the other hand, pay significantly more. Hence, choosing this country to pursue your career in the Retail Management field will surely give you several benefits.
Admission Requirements
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An academic degree in any relevant stream. Candidates have to either show their 10+2 exam marksheet, or bachelor’s marksheet, counting upon the course they want to pursue.
Top Colleges
Name of Institute | Courses | Fees |
---|---|---|
Sheffield Hallam University | BA (Hons.) Fashion Management and Communication | INR 11,35,550 |
Glasgow University | BA (Hons.) International Fashion Business | INR 9,93,961 |
University of Plymouth | MSc International Procurement and Supply Chain Management | INR 12,33,323 |
University of Stirling | BA Hons. Retail Marketing | INR 12,25,209 |
MSc Multichannel Retail Marketing | INR 15,12,850 | |
University of Arts London | MA Global Fashion Retailing | INR 18,59,722 |
Leeds Beckett University | BA Hons Fashion Marketing | INR 8,51,967 |
Benefits of Career as a Store Manager
The job of a Store Manager undoubtedly has certain advantages that entice applicants to apply for the position. These advantages are listed below for your convenience:
Salary
- In the most basic sense, salary is critical because the vast majority of people would not do their jobs if they were not paid for them. It is also critical to pay a fair wage for the labour that must be done.
- Candidates who find lucrative employment as a Store Manager are initially paid about INR 2-5 lacs per year. However, the pay tends to increase with a piece of increased knowledge, skills and hard work in the concerned field.
Job Security
- Job security provides employees with a sense of security and confidence, which leads to increased output. Job stability encourages loyalty and a desire to succeed, and the organisation benefits by gaining a dedicated and committed employee.
- The job of a Store Manager is in the Department stores, export houses, retail outlets, manufacturers, and other similar businesses.
- They may find employment in reputed private firms or even government agencies. Working anywhere in the world, they would surely have job security as Store Managers are necessary for every firm or organisation.
Scope
- Currently, approximately 325 department stores, 300 new malls, and 1500 supermarkets are under construction. This demonstrates that the Indian retail market has enormous potential for growth.
- Since the job of a Store Manager involves different areas of focus, there is surely a chance of an increased scope. They may explore various industries in which Store Managers are required such as Department stores, export houses, retail outlets, manufacturers, etc.
Skills Required for a Store Manager
The various skills required for becoming a Store Manager have been mentioned below:
Communication Skills | Interpersonal Skills | Leadership Skills |
Listening Skills | Customer Service Skills | Negotiation Skills |
Ability to motivate others | Self-Confidence Skills | Team Work |
Salary of Store Manager in India
The following salary ranges are provided for Store Managers and other related job roles:
Average Annual Salary
- Salary is important in the most basic sense since most people would not do their jobs if they were not compensated for them. Paying a fair remuneration for the work that must be done is likewise essential.
- Salary in the retail industry is determined by qualifications, employer, location of employment, and job profile.
- The average annual salary earned by Store Managers varies between a Government Organisation and a Private Organisation. The following table lists the salaries provided to Store Managers in both types of organisations.
Store Manager | Average Annual Salary |
---|---|
Government Organisation | INR 1-4 lacs (approx.) |
Private Organisation | INR 2-5 lacs (approx.) |
Specialisation Wise
- One of the most important factors determining the pay for different specialisations of a single sector of work is the degree received, whether in the same or a separate profession.
- Every position has specific specialisations that can be obtained either by seniority or by additional education.
- A master's degree in Retail Management, for example, is required for promotion to management jobs. With these factors, different specialisations come with different salaries. The salaries provided to different types of Store Managers have been given in the table below:
Job Profile | Average Initial Salary |
---|---|
Retail Buyer | INR 2-4 lacs (approx.) |
Warehouse Manager | INR 4-6 lacs (approx.) |
Department Manager | INR 3-4.5 lacs (approx.) |
Retail Merchandiser | INR 2-4 lacs (approx.) |
Experience Wise
- The amount of money you make as a Store Manager is strongly determined by your expertise in any industry.
- It's also common knowledge that any professional's salary will rise over time. The industry in which you work has an impact on your pay.
- This, however, is contingent on their improved abilities, knowledge, expertise, and experience. The following table shows the difference in salary between freshers and experienced store managers:
Job Profile | Salary of a Fresher | Salary of an Experienced Professional |
---|---|---|
Retail Buyer | INR 2-4 lacs (approx.) | INR 4 lacs and above |
Warehouse Manager | INR 4-6 lacs (approx.) | INR 6 lacs and above |
Department Manager | INR 3-4.5 lacs (approx.) | INR 4.5 lacs and above |
After Becoming a Store Manager
There are numerous things you can do, even if you have become a store manager. Check out below.
Higher Education
Even after landing a position as a Store Manager, some students are eager to further their education and get additional knowledge and experience in the field. Students can pursue a PhD in Retail Management or work for a recognised company in this situation.
Start Job
Most organisations prefer that students have completed an internship in the relevant industry with a reputable organisation before beginning a job as a Store Manager. However, once you have completed all of these internships, you may apply for Store Manager or relative positions at reputable colleges and organisations.
How to Become a Store Manager: FAQs
Ques. What are the works constituted for a Store Manager?
Ans. A Store Manager is given the responsibility to keep a check over the regular operations that take place in a store and also ensure that these operations are carried on in an effective and smooth manner.
Ques. What knowledge should a Store Manager surely have before they start to work?
Ans. In order to perform the assigned duties efficiently and effectively, the Store Managers must have special training and knowledge in several areas, including maintenance of statistics, management budgets, management of resources, etc.
Ques. What is the eligibility criteria for Store Manager jobs?
Ans. According to the prescribed eligibility criteria for Store Managers, candidates must have a bachelor's degree in the Retail Management field. In addition to this, they may be demanded professional certifications.
Ques. What is the average initial salary for a Store Manager?
Ans. The average initial salary for a Store Managers ranges between INR 2-5 lacs (approx.).
Ques. Who will benefit from taking this course?
Ans. This is an excellent choice of course for students who have an academic background in the Retail Management field and have a constant fascination with working as Store Managers.
Ques. What are the best places for these professionals to look for work?
Ans. They may find lucrative employment opportunities in areas such as Department stores, export houses, retail outlets, manufacturers, and other similar businesses.
Ques. What are the main skills required for Store Manager jobs?
Ans. The most specific skills required for Store Managers jobs in India include Communication Skills, Interpersonal Skills, Interpersonal Skills, Negotiation Skills, Customer Service Skills, the Ability to motivate others and so on.
Ques. Are there any Study Abroad options available in this field?
Ans. You can surely choose to Study Abroad if you wish to pursue a career in Retail Management in any foreign country. The necessary information about the same has already been provided in the article.
Ques. Can Retail Management be a good course to pursue a career in?
Ans. With the continuous expansion of the retail industry, there is a growing demand for retail courses that will prepare students to cope with the tactics, procedures, and procedures that will help them generate more sales and customer satisfaction. More than 2 million jobs are available in retail management around the world. Hence, it can be said that this is a good course to pursue your career in.
Ques. Why are Store Managers an important thing in recent times?
Ans. The retail sector in the country is currently booming, providing plenty of career prospects for people with a passion for sales marketplaces, business diversification, campaigning, advertising, market research, and segmentation. Also, Store Managers are the ones who can take care of all the customer needs in any store or shops.
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