However, retail management is not the only way to get into the retail sector. There are a number of different job profiles and roles that exist in the retail industry and your eligibility to these different roles depend on your specializations. Here are some roles that are available in retail and the MBA specializations that will help you get through.
Store Manager : As a store manager, you are responsible for all operational tasks in ensuring the smooth functioning of the store. This includes a lot of coordination between various teams. For instance, you will be required to coordinate with the category managers to ensure the supply of various products, talk to the Human resources to handle the employee availability during various shifts, execute the requirements as detailed by the various departments within the company including marketing and legal. If you are looking for a store manager position, then retail management is the specialization you need.
Category Manager : A lot of new recruits confuse the roles of a store manager and a category manager or at least consider them to similar. In reality, the roles are vastly different. The job of a category manager is to ensure that the inventory level of the products in the category are kept at optimal levels. This is a tricky role because too much inventory is a loss to the company because it requires larger warehouse space and also commodities could go waste in case of perishable goods. Fewer inventory would mean the store would be unable to fulfill demand and hence is a case of an opportunity lost. The category manager position is largely a supply chain position where you are required to handle demand effectively.
Store Technology Manager : Typically, the technology requirements of a store (or group of stores) were handled by the in-house technology team or an outsourced third-party. Consequently, MBA graduates were not part of this function. However, the requirements of stores today are vastly different. The job of a technology manager includes leveraging the power of big data analytics, cloud, mobile commerce and social business tools to effectively analyze customer behavior patterns and thereby deepen the store's relationship with customers. To be a part of the technology management team, an MBA graduate might require to specialize in IT Systems.
Store Marketing Manager : The job of the marketing manager in a retail store is to coordinate and execute the various branding and marketing functions within the store. For instance, if your company has signed a deal with Nestle to promote their chocolates, then the marketing manager coordinates with the sales team of Nestle to procure the banner and is responsible for deploying these promotional campaigns within the store. Besides this, the marketing manager also tracks the return on investment through the various campaigns so that the learnings from the campaigns could be taken forward to future promotions.
The retail industry is an exciting place to be in. Depending on the flair and skills that you possess, you could pick a role that would best satisfy your ambitions and work your way through the corporate ladder in retail.
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