A career in retail management, whether you own your own store or work for
a retail jewelry store or chain, can offer enormous rewards. Most store
owners and managers are true generalists, familiar with and involved in
all areas of building a successful retail operation. Store managers are also
very aware of their personal strengths and weaknesses and surround
themselves with employees who complement their unique abilities.
Retail management is a demanding job on many levels: long hours, hectic
pace and the pressures of running a business in an extremely competitive
marketplace. But the rewards can more than compensate for the hard
work. Retail management can lead to tremendous personal and financial satisfaction and the respect of employees, colleagues and the
Is this a career for me?
Store managers bring extensive knowledge and ability to a job that also
requires a fair amount of specialized training. Managers are people-oriented
and derive satisfaction from building a successful team. They are self-motivated
and comfortable setting and achieving their own goals. And equally important is the ability to provide the leadership that enables the team to meet its goals.
Strong business and analytical skills, learned in school or on the job, are important for managers. They are comfortable with numbers and financial management. They are good at sales and at training and motivating their
salespeople. But a retail manager’s job does not stop at the front door. Many managers are deeply involved in community and charitable activities that can bring in business while benefiting the local area.
Managers bring drive and persistence to their jobs and are able to juggle a
variety of tasks while staying focused on their goals. If your interests include
volunteer work or other kinds of networking, especially if you are good at
planning and organizing others and encouraging them to get things done,
you may find that this is a good career goal for you.
Pre-requisite knowledge that can lead you to succeed in this career :
- Jewelry industry experience and sales ability
- A gemology diploma or formal training in gemology
- Bench experience or knowledge of jewelry manufacturing and repair
- For advancement within larger companies, college-level courses or a degree in business, finance, marketing or management
- Computer literacy
What do you do as a Retail Management Professional ?
A store owner or manager must be able to sell both the jewelry in the store
and the store itself. The ability to build and maintain relationships is critical
for developing a long-term clientele for the store. Communication skills are
necessary for managing staff and for interacting with customers, industry
colleagues, corporate headquarters, sales representatives and outside
contractors. A manager must have an aptitude for both teaching and learning
– developing and conducting training programs and keeping up with changes in local and national markets and in the economy as a whole.
Increasingly, managers need to be computer-literate to oversee the financial
aspects of the business, keeping personnel records, and for tracking sales
and inventory. Many stores maintain websites or make an email address
available to their customers. It is essential that a store manager ensure that
these marketing channels work as well as the store’s advertising and other
marketing outlets. Problem solving, critical thinking and the ability to make
decisions are necessary skills, as is the ability to negotiate with vendors.
Store managers work hard and inspire others to do so, but long retail hours
can be difficult for some. Most managers find satisfaction in overcoming
challenges that require creative thinking, like providing leadership and
setting and achieving their performance goals. In addition, great personal
satisfaction may be gained through developing long-term relationships with
employees and customers.
How can you grow in this Industry?
Many larger retail companies have formal management training programs
and often seek to promote from within, encouraging store managers to
move into divisional or corporate management. Managers of single stores
or stores that are part of small chains may stay at their jobs or open stores
of their own. Some may move into other parts of the industry, such as
manufacturing or importing, marketing or education.
* Salaries can vary greatly based on the individual, job description, employer and geographic area.
- Entry Level
Rs. 36,000 to Rs. 60,000
Rs. 60,000 to Rs.1,20,000
- Career Potential
Rs. 1,80,000 and up**