Job opportunities in the retail sector

Current job opportunities available in the retail sector and their descriptions are as follows:

(1) Store manager: The various job responsibilities of a Store manager are as follows:
(a) A store manager is responsible for handling customer complaints and issues, achievement of stores sales target as given by the respective manager, responsible for the security and safety of stocks, cash, and infrastructure.
(b) The individual is also responsible for the attendance and punctuality of the store’s staff.
(c) The individual is also responsible for forwarding daily reports as instructed by the Manager to the respective ROM.
(d) To make sure that the store is opened and closed at the specific time.

Mostly the salary given to the right candidate is upto 2.00lacs per annum. And the qualification required for this post is a graduation from any university.

(2)Retail Operations Manager: Retail operations manager is responsible for the following tasks :
(a) Achieving sales target of the store by making relevant policies.
(b) Will be expected to handle a large team.
(c) Will be responsible in training the team to provide exceptional customer service.
(d) Will maintain large inventory control and supervision and also try to avoid loses by active supervision and using technology.

For this profile the person should be extremely good in achieving sales target .He/she should have analytical skills with creative bent of mind, good communication skills. He/she must be a self motivated person with abilities to motivate others. The minimum qualification for this profile is graduation. The salary given to the right candidate depends upon his/her past work experience.

(3)Regional sales manager: It requires a lot of past work experience in the field of retailing. The candidate must be technically qualified e.g.B.SC/diploma engg or an MBA. The individual is responsible for the overall growth of sales, operations, projects and customer service. Salary is no bar for the right candidate.

(4)Retail sales manager: The candidate must have the ability to handle customers and possess good communication and interpersonal skills. The individual who has the experience in retail sales can apply for this post. Salary is negotiable for this post.

(5)Shop manager: The individual is responsible for the day to day running of the shop. Always aiming to achieve optimum profits by maximizing sales and controlling direct shop expenses. The individual must have organizational skills. He/she must have the ability to work independently and as a part of the team and must be aware of the latest fashion trends.

Retail In India

The Indian retail market, which is the fifth largest retail destination globally, has been ranked the second most attractive emerging market for investment after Vietnam in the retail sector by AT Kearney's seventh annual Global Retail Development Index (GRDI), in 2008. The share of retail trade in the country's gross domestic product (GDP) was between 8–10 per cent in 2007. It is currently around 12 per cent, and is likely to reach 22 per cent by 2010.



The Evolution Of the Retail Industry in India :

· Traditionally retailing in India can be traced to

· The emergence of the neighborhood Kirana stores catering to the convenience of the consumers

· Era of government support for rural retail: Indigenous franchise model of store chains run by Khadi & Village Industries Commission

· 1980s experienced slow change as India began to open up economy.

· Textiles sector with companies like Bombay Dyeing, Raymond's, S Kumar's and Grasim first saw the emergence of retail chains

· Later Titan successfully created an organized retailing concept and established a series of showrooms for its premium watches

· The latter half of the 1990s saw a fresh wave of entrants with a shift from Manufactures to Pure Retailers.

· For e.g. Food World, Subhiksha and Nilgiris in food and FMCG; Planet M and Music World in music; Crossword and Fountainhead in books.

· Post 1995 onwards saw an emergence of shopping centers

· Mainly in urban areas, with facilities like car parking

· Targeted to provide a complete destination experience for all segments of society

· Emergence of hyper and super markets trying to provide customer with 3 Vs - Value, Variety and Volume

· Expanding target consumer segment: The Sachet revolution - example of reaching to the bottom of the pyramid.

· At year end of 2000 the size of the Indian organized retail industry was estimated at Rs. 13,000 crore



The Present And the Future:

A McKinsey report 'The rise of Indian Consumer Market', estimates that the Indian consumer market is likely to grow four times by 2025. Commercial real estate services company, CB Richard Ellis' findings state that India's retail market is currently valued at US$ 511 billion.

Banks, capital goods, engineering, fast moving consumer goods (FMCG), software services, oil marketing, power, two-wheelers and telecom companies are leading the sales and profit growth of India Inc in the fourth quarter of 2008-09. India continues to be among the most attractive countries for global retailers. At US$ 511 billion in 2008, its retail market is larger than ever and drawing both global and local retailers. Foreign direct investment (FDI) inflows as on January 2009, in single-brand retail trading, stood at approx. US$ 25.18 million, according to the Department of Industrial Policy and Promotion (DIPP).

India's overall retail sector is expected to rise to US$ 833 billion by 2013 and to US$ 1.3 trillion by 2018, at a compound annual growth rate (CAGR) of 10 per cent. As a democratic country with high growth rates, consumer spending has risen sharply as the youth population (more than 33 percent of the country is below the age of 15) has seen a significant increase in its disposable income. Consumer spending rose an impressive 75 per cent in the past four years alone. Also, organised retail, which accounts for almost 5 per cent of the market, is expected to grow at a CAGR of 40 per cent from US$ 20 billion in 2007 to US$ 107 billion by 2013.

India has emerged the third most attractive market destination for apparel retailers, according to a new study by global management consulting firm AT Kearney. It further says that in India, apparel is the second largest retail category, representing 10 per cent of the US$ 37 billion retail market. It is expected to grow 12-15 per cent per year. Apparel, along with food and grocery, will lead the organised retailing in India. India has one of the largest numbers of retail outlets in the world. A report by Images Retail estimates the number of operational malls to grow more than two-fold, to cross 412, with 205 million square feet by 2010, and a further 715 malls to be added by 2015, with major retail developments even in tier-II and tier-III cities in India.

The non-food sector, segments comprising apparel, accessories, fashion, lifestyle felt the significant change with the emergence of new stores formats like convenience stores, mini marts, mini supermarkets, large supermarkets, and hyper marts. Even food retailing has became an important retail business in the national arena, with large format retail stores, establishing stores all over India. With the entry of packaged foods like MTR, ITC Ashirbad, fast foods chains like McDonald's, KFC, beverage parlors like Nescafe, Tata Tea, Café Coffee and Barista, the Indian food habits has been altered.

Marks & Spencer Reliance India is planning to open 35 more stores over the next five years, according to Mark Ashman, CEO of the company. The 51:49 joint venture between UK’s Marks and Spencer and Reliance Retail Ltd already has 15 stores in India.

Future Group has been restructured to test the new rules on FDI under Press Notes 2, 3 and 4 issued in February 2009. The company plans to bring in up to US$ 148.7 million in foreign investment. Although FDI is permitted only in single-brand retail and not permitted in multi-brand retail businesses like Future Group's, the conglomerate has created two layers of operations to take advantage of the three Press Notes that allow FDI up to 49 per cent in operating-cum-investment companies as long as they are owned and controlled by Indians.

Carrefour SA, Europe’s largest retailer, may start wholesale operations in India by 2010 and plans to set up its first cash-and-carry outlet in the National Capital Region. Currently, Carrefour exports goods worth US$ 170 million from India to Europe, UAE, Indonesia, Europe, Thailand, Singapore and Malaysia.

Jewellery manufacturer and retailer, Gitanjali Group and MMTC are jointly setting up a chain of exclusive retail outlets called Shuddi–Sampurna Vishwas. The joint venture, which plans to open around 60 stores across India by end of this year, will retail hallmarked gold and diamond jewellery.

Mahindra Retail, a part of the US$ 6.7-billion Mahindra Group, plans to invest US$ 19.8 million by 2010 to step up its specialty retail concept 'Mom and Me'.


Indian Retail Report 2007 :

After leading the IT bandwagon, India is poised to grow as a Retail hub. It is imperative to sustain the modernization of the retail sector and dispel the myth that the game is big Vs small or traditional Vs modern or organized Vs unorganized or local Vs foreign. What is needed is to create an appropriate environment to propel retail where all benefit.

India has a huge population that has the potential to consume if given the power of spending and that is only possible through large scale development, generating employment which is already happening.

Escalating real estate cost, scarcity of skilled workforce and structured supply of merchandise are the key challenge areas for the retail growth.

The organised sector accounts for Rs.55,000 crore ($12.4 billion) business at current prices in the calendar year 2006 increasing its share to 4.6% of the total Indian Retail Value that stood at Rs.12,00,000 crore ($270 billion). Going by the current growth trend and considering the fact that existing prominent players in organised retail have stepped up their expansion drive with Reliance announcing big plans and other Indian corporate houses too evincing keenness on investing heavily in this sector as also the inking of the joint-venture between the world's largest retailer Wal-Mart and Bharti – the organised retail in India has indeed gained top speed and is now on the verge of take-off.

Of the Rs.12,00,000 crore retail market, Food & Grocery retail is by far the single largest block estimated to be worth a whopping Rs.7,43,900 crore, but the share of organised sector in this is miniscule. Clothing, textiles and fashion accessories constitute the second largest block, but the largest segment as far organised retailing is concerned is the timewear sector with nearly 46 per cent share of the segment being organised. Moving forward, organized retailing is projected to grow at the rate of about 37 per cent in 2007 and 42 per cent in 2008.


Growth Factors for Retail Industry in India:

Increase in per capita income which in turn increases the household consumption

Demographic changes and improvements in the standard of living

Change in patterns of consumption and availability of low-cost consumer credit

Improvements in infrastructure and enhanced availability of retail space

Entry to various sources of financing


Policy Initiatives:

100 per cent FDI is allowed in cash-and-carry wholesale formats. Franchisee arrangements are also permitted in retail trade.

51 per cent FDI is allowed in single-brand retailing.



Job Creation and Government statistics :

India Retail report 2007 says that organised retail in India has the potential to generate some 2.5 million direct jobs through retail operation and over at least 10 million additional jobs in retain support activities including contract production and processing, supply chain and logistics, retail real estate development and management etc.

Kamal Nath, Union Minister of Commerce & Industry said that the organised retail sector was expected to generate 10 to 15 million jobs over the next 5 years, and that the value of the organised retail sector in India by 2010 would be around Rs.2,00,000 crore or US $ 45 billion. (1)



RETAILING FORMAT IN INDIA

Malls:
The largest form of organized retailing today. Located mainly in metro cities, in proximity to urban outskirts. Ranges from 60,000 sq ft to 7,00,000 sq ft and above. They lend an ideal shopping experience with an amalgamation of product, service and entertainment, all under a common roof. Examples include Shoppers Stop, Piramyd, and Pantaloon.

Specialty Stores:
Chains such as the Bangalore based Kids Kemp, the Mumbai books retailer Crossword, RPG's Music World and the Times Group's music chain Planet M, are focusing on specific market segments and have established themselves strongly in their sectors.

Discount Stores:
As the name suggests, discount stores or factory outlets, offer discounts on the MRP through selling in bulk reaching economies of scale or excess stock left over at the season. The product category can range from a variety of perishable/ non-perishable goods.


Department Stores:
Large stores ranging from 20000-50000 sq. ft, catering to a variety of consumer needs. Further classified into localized departments such as clothing, toys, home, groceries, etc.
Departmental Stores are expected to take over the apparel business from exclusive brand showrooms. Among these, the biggest success is K Raheja's Shoppers Stop, which started in Mumbai and now has more than seven large stores (over 30,000 sq. ft) across India and even has its own in store brand for clothes called Stop.

Hyper marts/Supermarkets:
Large self-service outlets, catering to varied shopper needs are termed as Supermarkets. These are located in or near residential high streets. These stores today contribute to 30% of all food & grocery organized retail sales. Super Markets can further be classified in to mini supermarkets typically 1,000 sq ft to 2,000 sq ft and large supermarkets ranging from of 3,500 sq ft to 5,000 sq ft. having a strong focus on food & grocery and personal sales.

Convenience Stores:
These are relatively small stores 400-2,000 sq. feet located near residential areas. They stock a limited range of high-turnover convenience products and are usually open for extended periods during the day, seven days a week. Prices are slightly higher due to the convenience premium

MBOs:
Multi Brand outlets, also known as Category Killers, offer several brands across a single product category. These usually do well in busy market places and Metros.


Road Ahead:

According to industry experts, the next phase of growth is expected to come from rural markets, with rural India accounting for almost half of the domestic retail market, valued over US$ 300 billion. Rural India is set to witness an economic boom, with per capita income having grown by 50 per cent over the last 10 years, mainly on account of rising commodity prices and improved productivity.

According to retail and consumer products division, E&Y India, basic infrastructure, generation of employment guarantee schemes, better information services and access to funding are also bringing prosperity to rural households. The rural market, product design will need to go beyond ideas like smaller sizes (such as single use sachets) to create genuinely new products, according to Ramesh Srinivas, national industry director (consumer markets), KPMG India.

According to the Investment commission of India, the overall retail market is expected to grow from US$ 262 billion to about US$ 1065 billion by 2016, with organised retail at US$ 165 billion (approximately 15.5 per cent of total retail sales). India is expected to be among the top 5 retail markets in the world in 10 years.

According to new market research report by RNCOS titled, "Booming Retail Sector in India", organised retail market in India is expected to reach US$ 50 billion by 2011.

Number of shopping malls is expected to increase at a CAGR of more than 18.9 per cent from 2007 to 2015.

Rural market is projected to dominate the retail industry landscape in India by 2012 with total market share of above 50 per cent.

Organised retailing of mobile handset and accessories is expected to reach close to US$ 990 million by 2010.

Driven by the expanding retail market, third party logistic market is forecasted to reach US$ 20 billion by 2011.