The new horizon

THE job market is a dynamic and continuously evolving entity. With newer challenges and opportunities constantly cropping-up, there is always a need for new skill sets and more manpower. Presently, the retail industry is one such entity that is high on the popularity charts. Especially in the Asian subcontinent, which is still an untapped market that promises unlimited potential for growth and profits.

The retail industry in India, though in the nascent stage, is growing at a phenomenal rate. The sector is projected to generate a turnover of Rs 45,000 crores in the coming years. And is all set to scale greater heights in the near future. Major players already in the fray have begun to realise the importance of making it a more organised sector.

Not only has the retail sector, which effectively started evolving since the late 80's, begun to define a new consumer culture in the country, but has also begun to spawn a generation of dynamic professionals. It has created an environment that provides an alternative mode of employment that is challenging as well as paying. Familiar names such as Shoppers' Stop, Lifestyle and now the RPG's new outfit, the Hypermarket hire a sizeable number of Indians, which amounts to approximately 15 percent of the employable population.

The operations specialists

The retail industry world over is one of the chief contributors to an economy. They contribute up to 10 percent of the GDP. It is also the largest employment provider in the organised industry sector. The three major areas of control and responsibility in retailing pertain to:

Management

As a key functional area, store management deals with virtually everything from the look of the outlet to inventory management, security, and customer satisfaction. The store manager is responsible for the smooth running of the outfit and has to address customer complaints and employee issues. In order to attract and retain customers, the store manager has to constantly innovate the 'look' of the retail store. This throws up exciting new options for retail fashion specialists, display designers, interior designers and decorators and so on.

Administration

The administrative department is responsible for maintaining and running inventory checks, hiring the right people, managing the finances and people, and even marketing. Under their purview comes efficient management of human resources, from providing incentives and benefits to training. With the emphasis on better shop floor management and well-trained and courteous shop floor assistants, management trainers and consultants find it suitable ground to employ their expertise.

Merchandising

The manager in charge of purchase and stocking has to identify the right items and suppliers, and negotiate profitable deals with them, and also price products appropriately. He is instrumental in stocking up new and innovative items to attract and retain customers, and has to maintain a well-oiled supply chain management system. Small-scale manufacturers, designers, artists, and craftspeople with saleable wares can build a good vendor relationship with the merchandise manager to exhibit their products.

With grandiose expansion plans in the offing, big players like the RPG's, the Landmark group and ABC foresee operating more retail chains across the country.

Despite a relative slow down in the sector, there seems to be no sign of abating in the expansion plans of retailers. Other foreign players like Marks and Spencers, Sears, Kingfisher, Metro Carrefour and Tesco are keenly eyeing the Indian market.

As more and more cosmetic retailers like Lakme, manufacturing retailers like India Cements, the Piramals (Crossword, Vivek's and Nilgiris), the Tatas (Westside), the Raheja's (Shoppers' Stop, Pantaloon), RPG (Foodworld, Music World, Health & Glow) and others set up more outlets, the need for a trained and skilled staff is becoming a pressing need. Presently, most recruitment is based either on an applicant's experience and area of expertise or graduates and postgraduates with specialisations in business administration/ management are also considered.

However, key players in the retail industry hint at an increasing need to employ those with a recognised degree in the subject. The institutes to make headway in this direction are the RPG Institute of Retail Management in Chennai and The Retail Academy in Ahmedabad. The Shree Chanakya Education Society has also set- up an institute (The Indira Institute of Retail Management, Pune) that offers degree and diploma courses related to retail management.

Retail pundits believe that the best education, however can be had on-the job, beginning as a shop floor assistant to gain an inside view at the workings of the system.

With retail outlets occupying huge spaces (approximately 6,000 sq ft) and each person manning around 300 sq ft, this shouldn't be difficult. The retail sector offers tremendous opportunities to youngsters, right from part-time employment to a fulfilling career.

Retail management is a comprehensive business activity that encompasses almost all business, administrative and HR functions under its wing. The Indian retail scene is an undulating horizon promising much in terms of growth and a fulfilling career.

SAMYUKTA KODA

samyukta.hyd@careercommunity.co.in