India’s retail market is estimated to reach $1.1-1.3 trillion by 2025, from $0.7 trillion in 2019, growing at a compound annual growth rate (CAGR) of 9-11%, driven by socio-demographic and economic factors such as urbanisation, income
growth and rise in nuclear families.
The Retail Industry has emerged as one of the dynamic and fast-paced industry. It
accounts over 10% of country’s GDP and India is world’s 5th largest global
destination in retail space which gives a huge potential for growth. To harness the
emerging opportunities, a program is designed for retailers and young
entrepreneurs in retail to impart knowledge in the areas of retail which will
ultimately result in growing their business.
Need for Retail Management: The BCG report dwells on likely trends that could shape the retail industry in the next 5-10 years. The future of Indian retail will be determined by factors such as consumer shifts, supply side innovations, data and technology driven disruptions, new competitive forces and government regulations. Retail businesses are facing new challenges rapidly due to technological evolution. Following are the major challenges faced which gives rise to the need for retail management.
Retailers are asking for professionals who have experience in
retail industry or relevant qualification or certification in retail can easily get into
this field. (As per recent report in Times of India)
Through this course we shall build on Conceptual Understanding, Analytical skills,
understanding customers mindsets, Observation skills, Project management and
Operating skills which are highly in demand for people to work in this sector.
How will it benefit the Retailers?
- Setting up effective store outlets
- Managing Inventory
- Engaging with customers and recall in customers
- Growth in Profits
Tools for technology advancement
- People having their own small retail business.
- Anyone who wants to start their own retail business.
- Planning to make a career in retail industry