Vaibhav Singhal, MD and CEO, Savemax shares a six-step guide to build a successful career in the retail sector
The boom in retail industry is mostly led by MNCs adding retail outlets in India seeing the changing demand and preferences of the Indian consumers. Owing to soaring consumer demand, retail companies will continue their hiring spree in 2014, especially at entry level and front-line roles.
Education: One does not need any specialised education to get into this industry. The nuances of retail and categories can be picked up on the job as well.
Skills: The new entrants in this sector should focus on analytical skills, creativity, and decisiveness and risk tolerance. At the store level, one needs to understand the store planning, people management, inventory control, understanding of operations and customer management skills well, apart from being good with data.
Jobs: The industry will require qualified graduates/MBAs to execute jobs like store operations, supply chain management, merchandising, human resource, finance and marketing.
Experience v/s Expertise: Expertise can’t be compromised in any field. One can’t get a good experience if there is lack of expertise to begin with. However, expertise gets enhanced with experience as well. So it is a cycle. One needs to start well and then progress better.
Job profile v/s brand name: For a candidate, it’s important to have a clear picture about the company’s vision, future plans, financial strength, and culture before he comes on board. The candidate should also have adequate knowledge about people who are leading the company.
Focus on customer delight: New entrants should possess the right attitude, enthusiasm and maturity to serve their prospective and existing customers effectively. A ground level understanding of consumption patterns in the retail industry and strategies to attract new customers is a must. This has to be backed by sound retail fundamentals, basic common sense and the right service attitude.