Retail Musings

Hi,

Starting from today, every week I will be writing a small article on retail, especially on store operations for you all to be aware of the challenging activities that occur within a store.
According to me store operations is the happening place in a retail industry and this is the only place which will make a person an all rounder in the industry. It is here where I learnt that to become a perfect store manager you need to have hand-on experience in all the departments, starting from the warehouse. Hence whenever any new recruit used to join us, be it a management trainee, or a sales advisor we used to start their training at the warehouse. But it is not the same here in India, which I feel is a disadvantage. Most of the new recruits, who pass out from the B- schools and join the organisation as management trainees in store operations feel working in a warehouse, is not their cup of tea. This it-self is the first sign of failure. Hence mainly because of this reason most of them are not a successful store manager. Most of the stores which are doing great numbers are not because of the existing managers’ contribution, but because of the high rise in consuming power of the existing population. If you have shopped in such stores you will notice that there is still chaos within such stores and still most customers are not satisfied with the working of the store. The store manager will mostly be seen in a reactive mode and doing mostly fire fighting activities, rather than being in a proactive mode. There are two major reasons for the same, one being lack of trained store managers and inhibition to learn from their mistakes and the second not understanding the importances of processes and application of the same within the stores. It is very crucial to set processes in place to operate a store very efficiently.. Lot of scope is available to improve the operations of the store. I strongly believe that all management trainees who have joined the operations team dreaming to become store managers need to compulsorily start to get trained from scratch in store operations and understand each and every process, only then will he be able to run a store successfully.
I still remember how people used to look at me in the early nineties when I used to tell them that I am working in a retail store. They used to compare me with one of those salesmen working at a small shop situated at every lane in the town. Most of them are not clear as to what exactly this industry is all about. There is a wrong notion, especially in the rural areas about retail shops. One here feels people working in this industry are no one but the common kiranawala working at the neighbourhood kirana store. But it is gradually getting its importance and people have started accepting it as another career prospect. Retail is the code word in every individual tongue. Every second individual is talking about the retail industry. It has started growing rapidly since past five years. It generates more than ten percent of India’s GDP, and around eight percent of the employment. Organised retailing is gradually developing and due to this there is a great demand of skilled people in this industry. But as this industry was not so much in demand five to seven years back there is a tremendous shortage of skilled people to run the business, especially store operations. Due to this many institutes have started launching courses in retail management so as to develop skilled manpower and provide to the industry people with skill to run the business. But even now most of the institutes are finding it difficult to provide the full knowledge required to run the business, especially in store operations, reason being lack of exposure to this industry. Need is now to provide specific detail knowledge on every aspect in retailing such as, store operations, visual merchandising, merchandise buying, function of human resource in retail, logistics, retail marketing, and retail finance.
Career opportunities:
Tremendous opportunity exists in this industry and one can achieve a good career launch through this sector. Retail as most assume is not just about shops and salesmen. Apart from sales one can consider various functions from the choices listed below.

Segments within the industry:
Apparels
General Merchandise
Fast Moving Consumer Goods
Consumer Durables


Various inter department roles and functions:
Organization structure and Human Resource Management
Information Systems and Supply Chain Management
Merchandise Management
Communication Mix
Store Operations
Store Layout, Design and Visual Merchandising
Financial Strategy
Customer Service
Loss Prevention Cell

Various other roles one can fit into are:
Marketing
Logistics
Facility Management
Real estate/Properties
Category Management
Design/Creativity
Project Management



Because this industry is witnessing a huge growth one can also look for tremendous growth options within the industry. One can easily climb the ladder from a supervisor level to a store manager level in a span of four to five years time. Apart from this one also has a tremendous opportunity to grow horizontally in this industry as scope for learning is wide
ext week I will talk about careers in retail operations, the various segments it holds and
career opportunities.
From next week we will understand store operations in depth.