10 Things To Know About A Retail Management Career
If you are already on the path to becoming a retail manager or simply considering it, here are some important and interesting things to consider before embarking upon a retail management career.
1. You Must Have The Right PersonalityCompare your traits to those commonly found in successful retail managers.
- Ability to motivate, train and develop others
- Strong customer service skills
- Natural leader
- Good communicator
- Good listener
- Strong negotiator
2. Retail Management Is More Than Just SalesRetail managers oversee everything that makes a store work, from behind the scenes functions (such as buying, inventory, and merchandising) to the sales floor (such as sales and customer service). Some common tasks you can expect to perform during your retail management career include:
- Hiring, managing and motivating a team to increase sales
- Overseeing vendors and the buying process
- Managing inventory
- Creating and maintaining store displays
- Developing and executing sales and promotions
- Analyzing market trends and researching competitors
- Monitoring sales figures and forecasting future sales volumes, and meeting sales quotas
- Dealing with questions, complaints, and comments from customers
- Monitoring budgets, controlling expenses, and maximizing profits
3. Experience Drives GrowthOne of the most important factors in getting a job in retail is experience. So prepare to start in an entry-level job and take the time to learn every aspect of retail while you work your way up to your desired position.
4. You Don’t Have To Have A College DegreeMany retail managers worked their way up to the position from the sales floor, but it’s easier to land the job if you do have a degree. Most have a bachelor’s in business administration and some even have an MBA. For those without a degree, internal training and development programs will help to propel you forward.
5. There Are Many Specialties In Retail ManagementAs you move up in your career, you may have the opportunity to specialize in an area that interests you, including:
- Customer service