With the entry of large retail companies, the India retail markets have seen a pardigm shift in the way they operate. The old style baniya shops got converted to high profile departmental stores. The next generation shopkeepers start opening chain of stores aspiring big valuation game. Brands like Big bazaar, More, Pantaloon, Lifestyle, Reliance changed the entire meaning of retail business. This shift also require a huge inflow of manpower at all levels and that too at a much faster pace. Not only this, the lack of trained resources in the field also resulted in a jump of remuneration.
A normal large size retail outlet requires a staff, in terms of count, of 50 to 200 people. Not only this, these outlets are backed by a strong chain of warehouses, logistics and purchase teams. While few companies outsource these services, quite a few maintain their own fleet and warehouses. The purchase of material are done in bulk, keeping in mind the requirements of pan India stores, and involves selection, quality testing and negotiations.
Such large retail outfits, requires a huge flow of money rotation and is supported by a large team of finance and accounts professionals. The basic job of this team is to take care of cashflows, Invoicing, MIS, Direct and Indirect taxation matters and ascertaing the profit or loss from the business.
Unlike other issues, large size population of India plays in favour of this Industry, by increasing the demand and thus revenues. Worldwide, China and India are considered to an attractive markets for global players to enter. With deliberations are on for entry of FDIs in Indian multi brand retail sector, the Indian retail Industry is all set for growth explosion. Definitely, this will also means more employment opportunity, especially for skilled people.
You may become a strong contender for getting into this Retail revolution, if you are a graduate or post graduate, knowledgeable about retail business, possess a pleasing personality and good communication skills. A certification in the subject or even a small experience can actually add a lot of value to your resume.
