There are many different ways to build a successful career in retail. There are those who start working in entry-level retail jobs such as salespersons, cashiers, and baggers and work their way up to higher positions, while there are those who get a degree in retail management and merchandising and directly apply for a managerial position. Getting a degree in retail management and merchandising can teach you the various skills required for the retail business and help develop your salesmanship. If you do not have a college degree, you can still get into retail because entry-level jobs do not require a college degree. There are various career paths in retail including retail sales, purchasing, merchandising and management, and thus there is plenty of room for growth in this industry.
Degree programs in retail management and merchandising
If you are serious about getting a career in retail, it could be extremely helpful to get a degree in retail management and merchandising; especially with the volatile economic climate we are experiencing in the past few years, having a holistic view of the various aspects that affect the retail industry is invaluable. This is to prepare you for leadership roles in the retail industry and possibly give you a head-start for retail management jobs. There are colleges that offer two-year courses for associate degrees, as well as colleges that offer four-year programs for a more extensive background and training. Retail management and merchandising programs may include indispensable subjects such as Computer Applications in Business, Principles of Retailing, Introduction to Accounting, Principles of Economics, Advanced Marketing, Small Business Management, Speech Communications, and Specialty Merchandising. These subjects provide wide-range knowledge-base for tackling various retail problems and issues, especially in the global economy and give you an edge over aspiring applicants.
Possible careers in retail
Broken into two simple principles, a career in retail involves a lot of buying and a lot of selling. The best way to start a career in retail is to get experience as a salesperson. This way, you can observe, study and learn customers’ wants and needs and hone your selling skills. Once you learn how to sell a product and understand the behavior of consumers, you can then advance to being a retail manager or a purchasing manager.
Overview of retail sales work
Retail salespersons are required to know the product that they are selling, inside and out. There is nothing more annoying than a salesperson selling a product that he or she is clueless about—and cannot answer the simplest questions about the merchandise. Retail sales jobs require assisting customers in making better decisions about the purchase, answering the customers’ questions about the product such as its features and warranty, and directing the customers to products that will satisfy the customers’ needs. Most retail businesses offer commissions and incentives to their sales team. According to the U.S. Bureau of Labor Statistics, the average earnings of retail salespersons are around nine dollars per hour. You can choose to seek employment selling more expensive items or luxury goods because these usually offer higher commissions on top of the hourly wage.
Overview of retail manager’s work
The retail manager is responsible for the over-all retail operations and supervises the sales staff. The retail manager’s responsibilities are directly proportionate to the size of the staff and the store, the bigger the staff and store, the more the responsibilities of the manager. These responsibilities often include coordinating the schedules of the staff, directing the activities of the store employees, and ensuring the customers’ needs are met. According to the U.S. Bureau of Labor Statistics, the average salary for retail managers in 2004 was $33,000 per year. In the next few years, it is estimated that retail management job employment will slow down because of cost-cutting attempts and the hiring of more low-level workers. This means that managerial workers will have greater responsibility over the next few years.
Overview of purchasing managers’ work
Retail merchandising jobs such as a purchasing manager include procuring goods and services from suppliers and wholesalers and resell the merchandise in the retail market. Purchasing managers need to understand and have good insights about the consumer spending habits, the latest trends, and future trends. He or she should also be aware of economic indicators, so as to make good decisions about what would sell and what products to put on the shelves. Purchasing managers are also responsible for monitoring inventories and knowing what the retail competitors’ are selling. Because of the recent consolidations in the retail market, available jobs for retail purchasing managers have slowed. Even online, there is less demand for this type of work. However, according to the BLS, purchasing managers earn on average, $72,000 per year, making it still a desirable positions.
Continued training and development in retail
One of the most important things you should think about when considering a career in retail is the company that you work for. Some companies take care of their employees more than others. It is best to go with a company that helps you grow and progress so that you can advance in your retail career. Good retail companies provide extensive training that will hone your skills and abilities. There is also work-based training or on-the-job training which allows you to learn the theories and practice them on the field or on the floor at the same time. Choose a job in a dynamic company that values their employees and understands that they need to develop skills to further their career. If you have a degree in retail, go with management training programs or graduate training programs so that you can progress in the company rapidly. If you want to specialize in fashion retail jobs or merchandising, you can take short courses to help you develop your skills and give you an edge over other applicants. What is important is your desire and will to build a retail career.
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