Retail managers are traditional store managers who are responsible for running the store. They are mainly responsible for the achieving the sales target and implementing the company’s policies efficiently. According to the type and size of the job responsibilities of the retail manager varies. In small stores retail manager carries on the stores activities with the help of one or two employees and has the full responsibility of counter sales. He is responsible for sales target, inventory management, customer satisfaction while maintaining the minimum cost.
In big stores with a team of employees, Retail Manager runs the store and he is responsible for man management, inventory management, brand promotion, implementing company’s policies and strategies and finance and accounting of the store. Retail manager is the person to take important decision about stock management and clearing the dead stock. Retail manager is also responsible for forecasting the demand of goods and should have a clear picture of market trends. Depending upon the industry the job responsibilities of the Retail manager varies. But the basic criteria for becoming a Retail Manager is good experience in retail sector of that product and deep understanding of the product and understanding the psychology of the customers to introduce the apt promotional offers to increase the sales volume. Retail manager must be very good in human resource management, operations, sound knowledge of financial transaction of the store, vendor management. Good retail managers are those who can for forecast the market trends and makes their marketing strategy. They should also know all the rules and regulation which is necessary to be abide by for the running the store. Retail managers are the person who comes in direct contact with the end users of the product. Hence Retail managers are the first line of people who gets the firsthand knowledge of customer satisfaction and dissatisfaction. This information is very useful in framing the policies for product improvement and brand promotion. Retail manager job does not require any specific formal education. Most of the employers prefer people with good experience in retail industry. Many institutes are offering specialization in retail management. Yet it has not become an essential criterion for an employment as retail management.
The scope of Retail manager has much increased in last two decades. Last two decades has witnessed the opening of retail chain which offers services along with products. Hence the job opportunities for retail manager‘s tremendously increased.