Help Promote Better Sales And Customer Satisfaction: Retail Management Degree
Would you enjoy working in the retail sector and assist customers in fulfilling their buying needs? Does the prospect of helping a retail business to not only run smoothly, but also make a better profit sound like a challenge you would relish? With a degree in retail management you can prepare yourself for a career in this sector and face the challenges of the ever changing retail environment. Whether you already work in the retail sector and would like to improve your career prospects or require the skills to enter this industry, a degree in retail management can help to set you apart from the competition. So, if you would enjoy a career where you not only get to manage resources, but also organize, plan and lead people, then this is a great degree option.
Retail Management Degree Information
Associate of Retail Management Degree
The Associate of Retail Management is a four semester degree program that can be completed online. It is designed to teach students the fundamentals of the retail management industry, with a focus on marketing, merchandising planning and buying, management, and consumer behavior. Course topics may include Information Literacy, Principles of Management, Marketing, Financial Accounting, Business Statistics, Marketing Research, Supply Chain Management and more. Students may also be required to complete webinars as part of this course.
Bachelor of Retail Management Degree
A Bachelor of Retail Management degree can be earned online in the form of a Bachelor of Science in Business Administration with a concentration in Retail Management. In addition to major courses, such as Management Concepts, Business Ethics and Principles of Marketing, this degree also features a number of courses specific to the retail management concentration. These include Consumer Behavior, Retail Management, Marketing Communications, Strategic Market Pricing and Business Logistics Management.
Bachelor of Arts in Retail Management
This type of degree is also available as a Bachelor of Arts in Retail Management degree program that can take up to four years of full-time study to complete. It is aimed at students who are either interested in careers as professional retail store managers or who would like to move up to new retail management positions. Courses may include Retail Strategy, Retail Innovation, Retail Operations, Human Resource Management, Principles and Theory of Management, Strategic Management, Management Ethics and Consumer Behavior.
Retail Management Degree FAQ
Is It Possible To Study Retail Management Online?
Campus based degree programs are great if you are a student with a lot of free time and live in close proximity to a campus that offers the courses that you are interested in. However, not everyone is that fortunate, which is why online degrees are so popular. There are a number of online retail management degrees available that enable students to earn this degree, even if they are already working or have other obligations. To complete these types of online academic programs you need access to a computer as well as high-speed internet in order to view the course content and complete assignments. Studying retail management online not only offers you more flexibility, but in most cases it is also the more affordable option.
Who Is A Good Candidate To Study Retail Management Online?
Retail management is a degree and career path that is ideally suited to people with very specific traits. This includes being very results-oriented, as well as possessing the ability to motivate and train the people who you work with. To excel in this industry you need to be a strong negotiator and always act in a professional manner. Strong customer service skills are also vital as is patience and good communication skills. Retail management is definitely an industry that is a good fit for people who have natural leadership skills. Finally, you should not only be detail oriented, but also very organized and honest.
What Are My Career Options After Earning A Retail Management Degree?
In addition to becoming a retail manager, there are a number of career paths that may be open to you depending on the type of retail management degree as well as experience that you have. Some examples include becoming a bookkeeper, operations manager, sales manager, accounting clerk or business manager.
What Type of Responsibilities Might I Have When Employed As A Retail Manager?
It is a common misconception that retail managers are just involved with the sales of good as there is far more to this job. In reality, retail managers are responsible for overseeing just about everything that is required for a store to operate successfully. This includes managing inventory and dealing with customers as well as organizing store displays. A lot of the work that retail managers do are also performed behind the scenes, such as analyzing the current market trends as well as researching the competition. In addition, you may need to hire new employees as well as manage and motivate your team. Maximizing profits is a big responsibility of retail managers and doing so involves keeping a close eye on expenses, monitoring budgets, meeting sales quotas, forecasting future sales volumes and much more. Depending on the size of the store where you are employed you might be able to delegate some of the responsibilities or specialize in only the areas that interest you.
How Much Can I Potentially Earn When Employed In This Industry?
Your potential income in this industry will depend largely on the salary structure of the company you work for as well as the type of retail you choose and the geographical location of your place of employment. For example, the median annual wage for sales managers, according to the United States Bureau of Labor Statistics, was about $126,640 in 2019. However, annual wages for sales managers in the retail trade are slightly lower than those in other industries, such as finance and insurance or manufacturing.
What Are The Other Advantages of Earning A Retail Management Degree?
Retail management is a good choice if you are interested in a career that doesn’t require advanced accreditation past a bachelor’s degree. The knowledge and experience you can gain from studying retail management and working in the industry can also be useful for management and leadership positions in other industries.