What is Retail Management

Retail Management involves the process of overseeing the operations of a retail business, ensuring smooth functioning from inventory management to customer service. It encompasses strategic planning, sales optimization, and customer satisfaction, aiming to create a seamless shopping experience for consumers. The success of the store as a whole, employees, and merchandise are all under the control of retail managers. Running, maintaining, and expanding a retail firm are all parts of retail management. It includes overseeing a retail company's daily operations, such as sales, inventory, customer service, marketing, and employee relations.

 Retail management also includes: 

• Logistical planning
• Recruitment, staffing, and training decisions
• Warehouse and supplier management
• Customer information, payment, and accounting

The goal of retail management is to increase positive results and create great customer satisfaction. Retail management involves many responsibilities, and there are often multiple managers sharing these duties. A retail management degree prepares you for careers in the retail industry, specifically in managerial and leadership roles. 

Popular Retail Management Courses

Masters in Retail Management

·         Master of Business Administration (MBA) in Retail Management

• Course Description: MBA programs in Retail Management offer advanced knowledge in retail strategy, supply chain management, and consumer behaviour analysis.
• Duration: 2 years

·         Master of Science (MS) in Retail Management

• Course Description: MS programs focus on retail analytics, marketing, and digital retail strategies to prepare graduates for leadership roles in the retail industry.
• Duration: 1 to 1.5 years

Bachelors in Retail Management

·         Bachelor of Business Administration (BBA) in Retail Management

• Course Description: BBA programs provide foundational knowledge in retail operations, marketing, and customer relationship management.
• Duration: 4 years

·         Bachelor of Science (BS) in Retail Management

• Course Description: BS programs cover retail merchandising, e-commerce, and retail technology, preparing students for entry-level retail positions.
• Duration: 3 to 4 years

Best Universities for Retail Management

University	Popular Retail Management Courses Offered	World Ranking (QS)	Subject Ranking
University of Pennsylvania	- MBA in Retail Management - MS in Marketing: Retail and Merchandising	#12	1st
Harvard University	- MBA in General Management with a Retail Focus	#4	2nd
University of California, Berkeley	- BBA in Retail Management	#10	1st
London Business School	- MBA in Retail Management	#3	1st
INSEAD	- Master in Business Administration with Retail Specialization	251-300	2nd
University of Michigan	- MS in Marketing: Retailing and Consumer Goods Management	#33	1st
Wharton School, University of Pennsylvania	- Executive Education Program in Retail Management	101-110	2nd
Stanford University	- MBA in Retail Management- MS in Management Science and Engineering	#5	3rd
Columbia Business School	- MBA in Retail and Luxury Goods Management	#82	4th
University of Cambridge	- MPhil in Retail Management	#2	3rd

 

Here are some top universities for retail management in India: 

• Amity University
• Birla Institute of Management Technology
• Graphic Era University
• SIMATS
• WeSchool Mumbai
• Panjab University
• Asian Business School Noida
• Jaipuria Institute of Management-Lucknow
• Jagan Institute of Management Studies
• Institute of Business Management & Research

Admissions to top retail management colleges in India are based on merit or through entrance exams such as CAT/ MAT/ CMAT. 

Other top universities for retail management include: 

• KJ Somaiya Institute of Management Studies and Research
• Prin L N Welingkar Institute of Management Development and Research
• ACAS Kumbakonam
• AIIMAS Chennai
• University of Wisconsin
• University of Minnesota - Twin Cities
• Purdue University
• Central Washington University
• Columbia College, Chicago
• Lindenwood University
• University of Arkansas
• Bournemouth University