More Information About Retail Management

What should I know when considering a degree in Retail Management ?

Earning a degree in retail management will increase career options and opportunities among those in the retail field. A Bachelor's in Business Administration can lead to many positions that offer advancement and excellent compensation and benefits.

Earning a retail management degree is easier now more than ever due to the availability of courses both online and on campus. The ability to structure learning around a busy schedule has led many to earning their degrees online. To earn a Bachelor's Degree in Business Administration or to major in the highly competitive field of consumer sciences and retailing it will take an educational commitment of three to four years. The general education requirements for this degree include 45 quarter credits. A degree in retail management can be used in many management-level careers.

Required Education

Courses taken to acquire a degree in retailing and business management cover a wide variety of subjects that will enhance the student's overall knowledge and skill in the retail market. Upper-level courses include consumer behavior theory and the discussion of different operation strategies implemented on a domestic and global level by various businesses. Obtaining a retail management degree also entails a thorough understanding of basic business practices. Business mathematics and statistics courses enable professionals to analyze and synthesize data from many places to inform their retail market and marketing strategies. Courses in accounting, technology, and economics will develop the analytical, practical, and technical skills of the retail professional.

A career in retail management also requires strong leadership abilities and business ethics. Courses taken by the retail management student will increase the student's capacity to lead, supervise, motivate, and guide a group of professionals toward business and financial goals. Ethics and business law improve the retail professional's communication and decision-making skills. Entrepreneurial candidates and in-store retail students will benefit from courses in e-commerce and online sales. These courses will provide the student with in-depth training regarding trends in the online market, coupling online and store-based sales, and starting a store that does business completely online.

Career Opportunities

With an undergraduate degree in retail management a professional has many career options. Store managers oversee the entire operation of one store. Scheduling of employees, finances and budget considerations, and promoting sales are the most critical job functions for a store manager. They also supervise and provide training to salespeople as a way to drive sales. Advertising, marketing, and promotions are also career options for those with retail management degrees. These professionals are responsible for branding and marketing products to the public. They possess advanced knowledge and skills in the area of consumer behaviors. Marketing professionals coordinate research, marketing strategies, sales, and public relations among other duties. Other careers include brand manager, fashion researcher, human resource manager, buyer, product developer, and merchandising analyst; among others.

Earning Potential

Median income varies in the field of retail management. Depending upon the company, market, and position held an individual can expect a median income from $32,660 to $73,060 annually. Those with graduate-level education can expect higher compensation. Master's degree programs involve student research projects, thesis, and more in-depth coverage of managerial topics. Those with doctoral coursework often aspire toward becoming faculty in institutes of higher learning or researchers for government and private organizations. A career in the retail management field is a challenging and rewarding path.

Article References

Bureau of Labor Statistics
Advertising, Marketing, and Promotions:
http://www.bls.gov/oco/ocos020.htm
Clothing, Accessory, and General Merchandise Stores
http://www.bls.gov/oco/cg/cgs022.htm

National Retail Foundation
http://www.nrf.com/content/default.asp?folder=foundation&file=main.htm

University of Arizona: Consumer Sciences and Retailing Major
http://cals.arizona.edu/fcs/tlc/rcscMajor.html

What are the leading schools offering programs in Retail Management ?

• University of Phoenix - Business Established in 1976, the University of Phoenix is the largest private university in the U.S. to offer degrees in business -- offering Bachelors, Masters, and Doctorate degrees in accounting, administration, finance, marketing, global management, technology management, e-business, and information systems. Most students are able to successfully take classes while they work in part-time or full-time jobs. In post graduate surveys, an astounding 95% of all University of Phoenix students express that their education has had a very positive impact on their career. ( More Info )
• Ashford University Founded in 1918, Ashford University specializes in Teacher Education and Organizational Leadership. Students choose from associate and bachelor degrees in business, psychology, criminal justice, and teaching. The accelerated classes will offer you a swift path to program completion. ( More Info )