Programme | Pedagogy | MICA Retail Yatra | Faculty

Getting Through | Inquires

Retail Scenario in India

The Indian retail industry is currently estimated to be US $ 350 billion. Organized retailing is a mere 5% of it and US $ 17 billion now. It has been growing at 20% every year since 2000-2001 as the Indian consumer now exercises choice preferences and demands value for money. Organized retailing is projected to reach US$ 23 billion by 2010 according to management consultants AT Kearney in their 'Global Retail Development Index (GRDI) 2006.' According to them India has remained the most attractive retail investment destination among 30 emerging markets.

These projections have foreign retailers like Wal-Mart, Carrefour SA, and Tesco Plc, the largest retailers from the US, Europe and UK respectively getting ready to commence operations here. Given the momentum in this sector, one is likely to see tremendous growth and fierce competition driven by innovative business models, formats, services and the overall product offerings.

Retailing as a Career

With big players in the sector, a career in retailing is certainly more appealing now than it was a few years ago. Retailers are now looking for bright, motivated and capable individuals who can provide the necessary impetus to the industry in response to growing competition and innovation. This has increased the demand for specially trained employees. Retailers are offering a slew of benefits, comfortable working conditions, and opportunities for career and educational advancement to attract talented employees.

Managing a retail organization is a challenging job. Customer focus, product differentiation, innovation and brand management are critical. A retailing professional has to multitask as an economist, a fashion expert, IT manager, financial analyst, distribution- logistics and supply chain manager, real estate manager apart from being a competent marketing and merchandising person with the ability of carrying a team forward. No other occupation, perhaps, offers such a wide array of opportunities and challenges as retailing. Even though it is at a nascent stage in India, it is expected to become the second largest employer, after agriculture overtaking the information technology (IT) and information technology enabled sector (ITES).

The store manager or management team is responsible for departmental or overall establishment. Store planning and management, merchandise planning and management, staffing, administration, and financial functions are important functional areas for retailers. Management positions can be earned through experience or a specialized college degree.

The faculty at MICA has been extensively involved with the retail industry for their knowledge needs. A number of research papers and articles have already been published by MICA faculty and students on the different aspects of retail management. This has put MICA in the unique position to offer a specialized postgraduate programme in Retail Communications Management (PGRCM), that offers a unique blend of academic rigour and practical prowess needed for the growing industry.