A major reason for the flourishing economy of India remains the retail industry with the retail management workers acting as the backbone. With retail management as one of the most popular career options for college students, it is important to recognize the importance of these individuals and focus on their capacity building.
Why Retail Management?
The short answer is, potential. This career has proved to have great potential in terms of growth. There are multiple chances for an individual to develop their skills and grow alongside their job.
Another possible reason is that the nature of the job deals with multiple areas of expertise – from customer service to inventory management. There is always something you can learn from.
This industry has become more complex with the increase in e-commerce. It has come a long way and is still undergoing several changes. The industry hence requires more skilled and proficient workers.
Focusing on Capacity Building
There are many areas a person can struggle with while initially setting up their store. Financial planning, cost control, inconsistent feedback, the changing market dynamics, and customer needs are some common things that people struggled with at first when setting up a store in Delhi or any other metropolitan. A few changed businesses as well in order to better fit the needs of consumers.
The use of technology in order to better understand consumer behavior and improve customer experience is increasingly common now. The retail industry is heavily investing in the same. The use of AI also enhances the scope of the industry in e-commerce, digital marketing, etc., and requires skilled persons for the same.
There should be adequate training in data analytics and the identification of customer trends using technology. It is vital for retail management workers to have that in the age of the digital revolution.
Retail Management and Brand Image
Capacity-building programs in order to cater to these problems should be implemented. Retail management is a big field that requires extensive knowledge in order to excel. It is vital for individuals who are interested in the same to receive appropriate skills. This is for the benefit of the workers, consumers, and the country as a whole.
Retail management workers play a major role in setting a brand image. It is again important for them to be well-versed in what they are doing. Empowering retail management workers is an asset all around.
Proper training for building leadership skills, coaching for the staff, data analysis, learning how to adapt to new inventions and changing needs, and enhancing industry knowledge is extremely important for the retail industry to function smoothly. These are the qualities that a worker should be trained upon in order to strengthen the industry.
In addition to the personal development of workers, managers should be aware and well-versed in ethical and legal compliance. Proper safety guidelines, labor laws, etc. related to retail operations are vital to protect the workers.
Should Retailing Apps Be Made for Training?
Capacity building of upcoming working professionals in the retail industry requires the implementation of proper training facilities for them. But what about the workers already in the field? They too deserve the same.
The world turned to technology during the covid-19 pandemic and still majorly functions that way. Will a retailing application too help the flow of communication and training of workers?
Companies with retail management workers already working full-time may find the idea of in-person training expensive and time-consuming. There is an easy enough solution to this – technology. Incorporating technology in the capacity building of retail workers can prove to be beneficial.
Applications can be formed in order to provide on-demand training for the employee on their respective devices since the skills of the employee have a major impact on the company directly.
Retail Management in India
The retail industry in India ranges from pop-up stores to large supermarket chains and e-commerce platforms (more so after the pandemic). The industry has to overcome a lot of challenges including competition from competitors, changes in consumer behavior, supply management due to a fragmented market, etc.
The country has seen significant initiatives taken by the government that has aided the sector but again, India has a long way to go. India has one of the most promising retail infrastructures. Recent years have experienced growth in the industry not only in the urban and metro cities but also in the smaller cities.
The country has also seen a lot of investments in the industry in the past few years. A few examples are IKEA, H&M Home, the investment of the Lulu group to make a mall in Gujarat, and several partnerships with Reliance Limited.
Retailing while having a number of outstanding features, is still done in a traditional way in some aspects. There still exist retailers who are not well-equipped to incorporate world-class practices of supply chain management. Bases of modern retailing management are not seen. It is important to curb these gaps in this sector in order to grow further.
This is a sector that is constantly growing and is immediately affected by the changing demands of the world. It requires skills that are important not in one, but multiple areas, and having workers that are well-endowed with these skills will be a huge help.
Smile Foundation and Retail Management
Understanding the market trends and gaps, Smile Foundation reimagined its livelihood programme, STeP (Smile twin e-Learning Programme) recently made the retail and supply management course one of its six-course modules. The course has led to thousands of youth from underserved communities getting trained in retail management courses, many of which have been placed in reputable brands across India.
