A Store Manager, also known as a Retail Manager, is a professional charged with overseeing the day-to-day operations of the outlet or store where they work. They must be knowledgeable about employees, sales, statistics, budgeting, resource management, and so on.
Students who pursue a career in retail management gain a broad understanding of concepts such as retail management, pricing and merchandising, relationship marketing, and retail IT, among others.
People with a passion for sales marketplaces, business diversification, campaigning, advertising, market research, and segmentation will find plenty of job opportunities in the country's retail sector, which is currently booming.
With the retail industry's continued growth, there is an increased demand for retail courses that will prepare students to deal with the tactics, procedures, and procedures that will help them generate more sales and customer satisfaction. There are more than 2 million retail management jobs available around the world.
Department stores, export houses, retail outlets, manufacturers, and other similar businesses may be able to provide these individuals with attractive employment opportunities. Such jobs typically pay between INR 2-5 lacs as a starting salary (approx.).
Table Of Contents
- What does a Store Manager do?
- Skills required to become Store Manager
- Salary of a Store Manager in India
3.2 City Wise Salary
3.5 Top Recruiters
What Does a Store Manager Do?
- Store Managers are given the responsibility to keep a check on the regular operations of a particular store so as to ensure the smooth working of the same.
- Their responsibilities and duties include development of promotional materials, training of new staff for efficient working, constantly motivating the sales team, creating the business strategies for effective results in the future.
- Store Managers or Retail Managers are required to keep a constant check on whether the customer complaints are being met and solved, service provided is effective and efficient, etc.
- Their work involves the development of the concerned store strategies so as to increase the customers’ pool, profitability, store traffic, etc.
- Apart from this, supervising assistant store managers is one of the responsibilities of a store manager.
Skills Required to Become a Store Manager
Store managers should excel at customer service above all else when it comes to soft skills. Store managers must maintain order in their stores, which necessitates excellent communication and leadership abilities. Some of the most essential skills have been given below for your reference:
| Store Management Skills | Knowledge of Company Policies | Customer Service Skills |
| Human Resources | Knowledge of the Products | Knowledge of Action Plans |
| Should Be Hardworking | Maintaining good customer relations | Performance Evaluations |
| Financial Objectives | - | - |
Salary of a Store Manager in India
Salary is important in the most basic sense because the vast majority of people would not do their jobs if they were not compensated for them. It is also critical to pay a reasonable wage for the necessary labour.
Candidates who land a lucrative job as a Store Manager can expect to earn between INR 2 and 5 lacs per year at first. However, with increased knowledge, skills, and hard work in the relevant field, pay tends to rise.
Company Wise Salary
In India, various reputed companies recruit deserving Store Managers for the smooth and efficient functioning of the concerned store. These companies include Reliance Smart, Airtel, Starbucks, Lenskart, D Mart, Vodafone and so on. The salaries offered to Store Managers at each of the above mentioned companies has been listed below for your reference:
| Name of the Company | Average Salary |
|---|---|
| Reliance Smart | INR 4,00,000 - 8,00,000 |
| Airtel | INR 3,00,000 - 4,00,000 |
| Starbucks | INR 4,17,000 |
| Lenskart | INR 50,000 - 1,50,000 |
| D Mart | INR 4,00,000 - 12,00,000 |
| Vodafone | INR 4,50,000 - 15,00,000 |
City Wise Salary
Just like different companies pay different amounts to Store Managers, similarly, different cities offer different salaries to the professionals. The salaries offered to Store Managers in different cities of India have been listed below:
| Name of the City | Average Salary |
|---|---|
| New Delhi | INR 7,20,000 |
| Bangalore | INR 6,40,000 |
| Hyderabad | INR 6,40,000 |
| Kolkata | INR 6,00,000 |
| Mumbai | INR 7,70,000 - 10,00,000 |
| Chennai | INR 4,70,000 - 7,50,000 |
Level Wise Salary
The level of an individual is also an important factor in determining the salary of an individual and deciding upon what should be the appropriate pay for them.
In order to hold a high position as a Store Manager, one must possess all the necessary skills that have already been listed in the skills section along with the fulfilment of important education in this field. The salaries baked upon the levels have been given below for your reference:
| Level | Salary |
|---|---|
| Senior Store Manager | INR 6,30,000 - 7,00,000 |
| Junior Store Manager | INR 3,50,000 - 4,00,000 |
Experience Wise Salary
Experience does matter when it comes to raising a person's salary in their chosen field. This is due to the fact that reputable organisations that hire these professionals require applicants to have a basic understanding of the field and to work in a way that allows them to gain a deeper understanding of their field. As a result, if you have a lot of experience, you can earn a lot of money.
| Experience | Salary |
|---|---|
| Less than 3 years | INR 2,00,000 - 2,30,000 |
| 4-9 years | INR 4,90,000 - 5,00,000 |
| 10 - 20 years | INR 8,13,000 |
| More than 20 years | INR 9,60,000 |
Top Recruiters
With the retail industry's continued growth, there is an increased demand for retail courses that will prepare students to deal with the tactics, procedures, and procedures that will help them generate more sales and customer satisfaction.
There are more than 2 million retail management jobs available around the world. Some of the top recruiters of Store Managers in India have been listed below for your reference:
| Reliance Smart | Airtel | Vodafone |
| Starbucks | Lenskart | D Mart |
| Lifestyle | Forever 21 | Bata India |
Scope of Store Managers in India
- The organised retailing sector in India currently accounts for only 3% of the country's GDP, but it is expected to grow from 25% to 30%.
- This shows that the Indian retail market has a lot of room to grow.
- Because a Store Manager's job entails a variety of responsibilities, there is a good chance that his or her responsibilities will expand.
- Store Managers are needed in a variety of industries, including department stores, export houses, retail outlets, manufacturers, and others.
Store Manager Jobs in India: FAQs
Ques. Who is a Store Manager?
Ans. A Store Manager is a trained professional who checks on the everyday working of the store to make sure that the store is working in an effective and efficient manner.
Ques. Are our Retail Managers and Store Managers the same?
Ans. Yes, they both are the same even though the words seem to be different.
Ques. How can I become a Store Manager in India?
Ans. To become a Store Manager in India, you must hold a Bachelor's Degree in the Retail Management field along with some professional certifications in the field.
Ques. Can being a Store Manager be considered a good career?
Ans. With the tremendous growth in the economy, retail management has become one of the fastest-growing careers in the industry. India's retail market is the most appealing and developing in the world. In recent years, there has been a greater demand for trained professionals in this field.
Ques. What is the average initial salary of Store Managers in India?
Ans. Such jobs typically pay between INR 2-5 lacs as a starting salary (approx.).
Ques. Where can I find appropriate jobs in this field?
Ans. You can find appropriate employment opportunities in areas such as Department stores, export houses, retail outlets, manufacturers, and other similar businesses.
Ques. Do Store Managers have importance in recent times?
Ans. People with a passion for sales marketplaces, business diversification, campaigning, advertising, market research, and segmentation will find plenty of job opportunities in the country's retail sector, which is currently booming. Store Managers are also the ones who can attend to all of the needs of customers in any store or shop.
Ques. What should an individual consist of in order to be an excellent Store Manager?
Ans. You'll need a strong team, excellent leadership skills, and a data-driven mindset to be a successful retail store manager.
Comments