Retail Management

What is retail management?

Retail management is the business of overseeing the buying and selling of products in any retail setting, which often involves selecting, purchasing, and managing inventory, supervising retail sales personnel, setting sales goals, and marketing retail products.

What should I look for in an online retail management school?

The best online retail management schools should possess either regional or national accreditation from an accrediting body that is recognized by the U.S. Department of Education.

In addition, you can often recognize top online retail management schools based on:

• The school’s name and status
• The school’s history
• Teacher credentials
• Alumni network

In choosing the best online retail management school for you, you should consider the following factors:

• Admission requirements
• Residency requirements
• Class and teaching style
• Testing methods used
• Course content and presentation
• Program length
• Class size
• Student-teacher interaction
• Technology use
• Tuition and financial aid
• Transferability of credits
• Availability of a dedicated administration team and resources

What levels of online retail management programs are available?

The following levels of retail management degree online programs are available:

• Online Retail Management Certificate Programs
• Online Associates in Retail Management
• Online Bachelor in Retail Management
• Online Masters in Retail Management
• Online PhD in Retail Management

Online master’s and PhD programs that apply to retail management are usually in business administration with a concentration in management, sales, or marketing.

How long does it take to get an online retail management degree?

The amount of time it takes a student to earn an accredited online retail management degree depends on the level of retail management degree being pursued and the pace of the student.

Typically, the breakdown is as follows:

• Online Retail Management Certification Programs – 6 months to 1 year
• Online Retail Management Associates Degree – 2 years
• Online Retail Management Bachelor Degree – 4 years
• Online Retail Management Masters – 2 years
• Online Retail Management PhD – 2 to 5 years

What are some examples of online retail management courses?

The best online retail management programs give students practical knowledge about general business strategies as well as a concentration on retail business studies. Popular retail management online schools offer courses such as:

• Principles of Retailing
  This overview course investigates the business of retailing and what makes it distinctive from other business areas including basic principles for merchandising, store organization, personnel management, and sales.
• Introduction to Accounting
  A class highlighting one of the core skills needed in retail management: the ability to clearly and carefully record, balance, and analyze accounting statements to keep track of business finances.
• Small Business Management
  Many retail stores are small business enterprises, which may be owned and operated by one retail manager. This course focuses on the different structures, policies, and challenges of managing a small business.
• Specialty Merchandising
  This course looks at strategies for retail marketing for specific niche categories of merchandise such as clothing, digital entertainment, or specialty gifts.
• Professional Communication
  Communication is essential for managers, both with customers as well as with employees, vendors, and purchasers. This class presents a practical overview of professional communication styles and strategies.

What areas of retail management specialization are available?

The most popular online retail management schools offer the retail management diploma as a specialization of a business or marketing degree. Some of the top retail management online programs may offer concentrations in:

• Fashion Merchandising
• Purchasing
• Internet Sales
• Management
• Small Retail Business

What can I do with a retail management degree?

With a degree from an accredited online retail management school, graduates often move into entry-level retail sales positions and work their way into retail management jobs such as:

• Retail Store Manager
• Purchaser
• Fashion Merchandiser
• Retail Store Owner
• E-Commerce Small Business Owner
• Regional or District Manager

What is a retail manager?

Retail managers are primarily responsible for purchasing, merchandising, and selling the products of a small or large retail store as well as overseeing other sales employees.

What does a retail manager do?

A retail manager first must follow fashion or industry trends for their products in order to select and purchase inventory that will sell effectively in their customer market. Top retail managers design sales strategies and set monthly sales goals for employees at their store, keep up-to-date accounting records of sales and operations costs, and look for ways to market their products in industry-enhancing ways. Retail managers also work directly supervising and training employees, coordinating schedules, and promoting sales goals among store employees.

How much does a retail manager earn?

The average annual salary for retail managers is $39,130. Moving into purchasing, wholesale management, or sales for more specialized merchandise including telecommunications and electronics can lead to salaries of $59,250 or more per year. Job growth is expected at a rate of 5% in the next eight years. Competition for retail management jobs is high in most industries, especially as many retailers downsize their operations due to economic difficulty.

How do I become a retail manager?

Students interested in how to become a retail manager should try to gain practical sales experience by working as a salesperson in a retail setting. This is the best first step toward a professional career in retail management. With some firsthand experience, students will benefit immensely from completing an online retail management degree program, which will enable them to pursue higher-level retail positions.