The retail industry offers a promising career path for MBA graduates. With the rise of e-commerce platforms and changing consumer behaviors, professionals with an MBA degree have vast career opportunities. The retail sector has become increasingly competitive, which results in high demand for professionals with a comprehensive understanding of market trends, consumer psychology, supply chain management, and financial analysis.
This article explores the various rewarding career opportunities available in the retail industry for MBA graduates.
Size of Retail Industry
In the upcoming years, the retail sector is expected to continue growing due to several factors, including rising e-commerce, rising consumer demand, and technological improvements. According to a report by ResearchAndMarkets.com, the retail market size will reach $31310.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%.
The retail industry in India is projected to scale to $2 Trillion in the next one 10 years.
Job Profiles in the Retail Industry After MBA
An MBA degree opens up various job opportunities in the Retail Industry:
The retail industry is constantly evolving and facing new challenges in an increasingly competitive marketplace. To stay ahead, companies in this industry need innovative and strategic thinkers who can navigate through complex business environments. This is where MBA students can play a crucial role. With their advanced knowledge in areas such as finance, marketing, operations, and supply chain management, MBA students bring a unique skill set that can help retail companies optimize their operations, drive growth, and make informed business decisions.
Their ability to analyze data, identify trends, and develop strategies can greatly benefit the retail industry in adapting to changing consumer demands and preferences. Therefore, it is evident that the retail industry needs MBA students to bring fresh perspectives and valuable expertise to drive success in this dynamic sector.
Here are the top Career Opportunities after an MBA in the Retail Industry:
Source of Salaries: Glassdoor
#1 Retail Manager
A retail manager oversees all aspects of the store’s operations, including inventory management, sales strategies, and customer service. They are responsible for setting sales targets, analyzing performance metrics, and implementing strategies to meet business goals. With an MBA degree, you can position yourself as a retail manager.
Salary: The base pay range of a retail manager is 5 lakh to 10.5 Lakhs. The average additional cash compensation for a Retail Manager in India is 11,25,941, with a range from 7,56,000 – 24,60,005.
#2 Marketing Manager
A marketing manager has the responsibility to create and implement effective marketing strategies to promote products and services, driving business growth and success within the retail sector. With an MBA degree, you can secure leadership positions in the marketing departments of retail businesses.
Salary: The Salary of a Marketing Manager in India is between 2.3 lakhs to 24 lakhs with an average annual salary of 12.2 lakhs.
#3 Supply Chain Manager
A Supply Chain Manager plays a vital role in ensuring the smooth flow of goods and services from suppliers to customers. Tasked with managing the entire supply chain process, they are responsible for optimizing efficiency, reducing costs, and enhancing overall performance. An MBA degree qualifies you to fill these top positions in supply chain management within the retail sector.
Salary: The salary of a Supply Chain Manager in India ranges between 3 lakh to 29 lakh with an average annual salary of 14.2 lakh.
#4 Merchandiser
A merchandiser is responsible for contributing significantly to a company’s success by strategically managing the product assortment and presentation. They decide what products to sell, where to put them, and how much they should cost. By keeping an eye on what people like to buy and what’s popular, they make sure the shelves are filled with things customers want. With an MBA degree, you can build your career by positioning yourself in leadership positions in merchandising departments of retail organizations.
Salary: Merchandiser salary in India ranges between 1.5 to 7.1 lakhs with an average annual salary of 4.1 lakh.
#5 E-Commerce Manager
An E-Commerce Manager is tasked with navigating the online marketplace. They oversee the design and functionality of the online store, ensuring a seamless and user-friendly experience. They strategize digital marketing campaigns, optimize product listings, and analyze data to enhance online visibility and drive sales. Pursuing an MBA program makes you eligible for leadership roles within the e-commerce divisions of retail organizations.
Salary: E-Commerce Manager salary in India ranges between 2.3 lakh to 19.8 lakh with an average annual salary of 10.8 lakhs.
#6 Business Development Manager
A business development manager holds a vital position within an organization. This role involves conducting market research, analyzing consumer trends, and developing innovative strategies to expand the company’s market presence. An MBA degree helps you to gain a leadership position within the business development departments of retail organizations.
Salary: Business Development Manager salary in India ranges between 2.5 lakh to 16 lakh with an average annual salary of 7.3 lakh.
#7 Operations Manager
An operations manager oversees the daily functioning of a retail store, which includes tasks such as managing the supply chain, warehouse, inventory, and logistics. With an MBA in retail management, you can qualify for leadership positions in the operations departments of retail organizations.
Salary: Operations Manager salary in India ranges between 3 lakh to 20.4 lakh with an average annual salary of 10.6 lakh.
#8 Retail Consultant
A Retail Consultant is a professional who offers expert advice and guidance to retail businesses on how to improve their operations and increase sales. With a good knowledge of industry trends and consumer behavior, they provide customized solutions to solve specific challenges. Obtaining an MBA degree can prepare you for roles as a consultant in retail management firms.
Salary: Retail Consultant salary in India ranges between 1.9 to 25 lakhs with an average annual salary of 15 lakhs
#9 Retail Entrepreneur
With an MBA degree, you gain the knowledge, skills, and strategic understanding to start your own retail business. The comprehensive knowledge of business principles, financial management, and market analysis helps you to build a retail business and address the complexities of the retail industry.
Wrapping Up
An MBA degree provides you with the skills, knowledge, and opportunities to excel in various roles within the retail industry. Whether you aim to climb the corporate ladder, start your own ventures, or contribute to industry-wide transformations, this degree can be a valuable asset for career growth in retail. By staying updated with industry trends, sharpening your expertise, and seizing opportunities for advancement, you can carve out fulfilling and rewarding careers in this ever-evolving sector.
SKIPS Business School offers various PGDM/MBA programs that provide you with a comprehensive understanding of the retail industry and its management practices. You can learn the latest theories and approaches of management and also get the opportunities to interact with leading business tycoons in the retail industry so that they can share the insight that experts have. Such a combination of academics and a pragmatic approach makes you highly employable and an asset in the retail industry.
