How to become a store manager

 

When customers step into a retail store, they expect the experience to be smooth and pleasant. They anticipate that they will be able to find the product they’re after, that the store will be properly staffed and that the premises will be clean and uncluttered. These are critical aspects of any positive retail experience, and they don’t happen by accident. It’s the role of a retail store manager to make sure everything is running properly to satisfy customers.

A retail store manager’s job description may vary slightly from one store to the next, hinging on such factors as the size of the store and whether it’s independent or part of a franchise chain. However, there are a few aspects of the retail manager job description that carry over from one outlet to the next, such as the need to hire the right employees and schedule the right amount of labor during any given shift.

Retail store managers play an important role in helping customers have a satisfying consumer experience. They also ensure that retail employees have a supportive work environment. Success in this important role can be facilitated by the right set of skills, which are often honed in a formal academic setting. Those hoping to develop some of the skills needed to become retail store managers would do well to earn a well-rounded education through a Bachelor of Arts in Liberal Studies. The training provided in this program gives graduates a broad understanding of how to address the unique challenges of the workplace. 

What Does a Retail Store Manager Do?

The retail store manager job description ultimately encompasses anything that must be done to keep the store operating smoothly and efficiently. These responsibilities fall into a few broad categories, including staffing and scheduling, sales and inventory, and customer service.

Staffing and Scheduling

One critical function of the retail store manager is to make certain the right team is in place to meet customer demands. The manager is in charge of hiring, training, assessing and firing employees as needed. They can promote employees and make decisions regarding schedules and the number of hours each employee works. In creating a schedule for the store, managers must ensure there is sufficient labor while also complying with budgetary limitations, keeping the store’s operations as efficient as possible.

Sales and Inventory

Retail store managers also have direct responsibility over inventory movement and revenue creation. They are responsible for meeting sales goals and reporting to their own managers, often at a district or regional level. Additionally, retail store managers are in charge of stocking and restocking products in their stores. Again, efficiency is key. A good store manager will maintain sufficient product levels to meet customer demand, without having too much extra inventory wasting space and draining resources.

Customer Service

While most retail stores have cashiers or customer service associates to deal with customer inquiries, managers must be prepared to step in and handle challenging issues. Most managers interact with customers on a daily basis, dealing with confrontations and solving problems that arise. In this capacity, they play an important supportive role for their employees 

Skills of a Store Manager in Retail

The retail store manager job description is multifaceted, which means the job requires several distinct skills. These include:

Leadership: Retail sales managers exhibit leadership by hiring employees, promoting products and boosting employee morale. Inspirational leadership is essential for creating an environment in which employees feel empowered to provide an exemplary customer experience.

Customer service: One of the most important aspects of managing in retail is working with employees to better serve customers. Managers are responsible for problem solving and making sure customers will continue coming back. Dealing with customer problems or complaints often requires patience, diplomacy and critical thinking ability.

Being organized and detail oriented: From creating employee schedules to staying on top of inventory shipments, the work of store managers requires that they be organized. Ultimately, every detail of a store’s operation falls under the manager’s purview.

Sales skills: Retail sales managers should have a background in sales and be able to achieve the store’s sales goals through their knowledge of its products and their ability to close sales. Creating promotions and displays, “upselling” related products and tracking sales numbers are all crucial functions of the job.

Financial and technical skills: Retail sales managers should have an understanding of the financial aspects of sales, from managing transactions to marking down prices. Managers also need technical acumen for using point of sale (POS) systems and analyzing data. A key component of the retail store manager job description is keeping profit margins as high as possible, something that requires mathematical insight. 

 A Career in Retail Management

While there’s more than one way to become a retail store manager, one path that’s worth considering is pursuing a bachelor’s degree. By gaining an educational background in liberal studies, individuals may gain proficiency in all of the skills necessary to become a retail store manager.

For example, through an education in liberal studies, students may:

Enhance their leadership and communication skills through classes in speech communication or term paper writing in upper-level literature courses

Hone their financial acumen through courses covering economics

Become more empathetic leaders and customer service providers through courses in social psychology or sociology

Become more adept at team building through classes in organizational psychology

These are just some of the ways in which a bachelor’s degree in liberal studies can be a steppingstone toward a rewarding career as a retail store manager. 

 Eligibility to become Retail Manager

Candidates should have passed their graduation degree in any discipline with an aggregate of 45% marks from a recognised university/institute.

Candidates are also required to qualify entrance exams like CAT, MAT, CMAT, XAT, GMAT etc.

Candidates holding certificate/ diploma/ PG management course from a recognised university/ institute are also eligible.

There is no restriction in terms of educational qualification. Candidates of any background/stream can pursue a career in Retail Management. 

 

.Types of Job Roles Retail Manager

Once you have completed the required qualification to become a retail manager, there are various job opportunities that you can target based on your interest and skills. Choose a job profile that brings out the best in you and boosts your CV to become a Retail Manager.

Following are some job options that you may explore in the retail sector:

Retail Buyer: A retail buyer is responsible for developing, sourcing, and presenting product chains according to its stores and customer base.

Retail Merchandiser: The role of a retail merchandiser is to ensure that the right amount of goods are available in the store and sold at the right price.

Supply Chain Distributor: The role of a distribution manager is to plan and manage the movement of goods in a supply chain.

Marketing Executive: A marketing executive is a person whose goal is to maximise profits by matching the needs of customers and promoting products, services or ideas through the development of sales strategies.

Customer Service Executives: The role of customer service executives is to answer the calls from customers for various reasons/purposes such as taking orders, answering inquiries, providing information and resolving complaints.

Warehouse Manager: Warehouse managers are responsible for maintaining safe and efficient receipt, supervising employees and transmitting warehouses.

Department Manager: A department manager is the one who is responsible for all the tasks of the sales department, supervises the staff and builds strategies to increase productivity 

 Employment Sector/Industry for Retail Manager

There are various employment opportunities available in the market for Retail Management. The list of employment opportunities in different areas are given below:

Departmental stores

Education sector

Retail outlets

IT and BPO

Healthcare product manufacturers

Export houses

Manufacturers

Sports equipment and sports gear manufacturers

Financial institutions for marketing

Top Recruiting Companies for Retail Manager

Let's take a look at some of the major companies that have good job opportunities for retail managers:

Pantaloon Retail

Reliance Group

Piramal Group

ITC Retail

Bharti Walmart

Lifestyle International

Aditya Birla Group

K Raheja Group

Tata Groups

Landmark Group

Spencers

Shoppers Stop

 

Books & Study Material to Become Retail Manager

To be prepared for a career as a Retail Manager, you will need a professional management degree from a reputed B-School for which you might need to appear for entrance exams such as CAT, XAT, MAT, etc. You may refer to the study material required for preparing for these entrance exams. To prepare for a career in Retail Management, one has to follow the curriculum provided by management institutes.

Pros of becoming a Retail Manager

There are many foreign retail chains from countries such as Germany, the UK, and the USA that are opening stores in India every year. This has generated many opportunities for jobs in the field of retail management.

Generally, the retail systems are very colorful and exciting. People in this industry get the opportunity to have extensive exposure and interaction with different types of people.

Cons of becoming a Retail Manager

Some retail companies hire individuals who are just graduates and do not ask for a postgraduate degree or any specific qualification in retail management. This may lead to inconsistencies in a student’s career.

Some retail chains that don’t perform well in the market usually cut down on their manpower. This a risk factor, which is often associated with the retail business.