Retail Business
Estimates predict that the overall size of the retail sector in India is expected to touch US$427 billion by 2010 and US$637 billion by 2015 with the modern segment expected to account for 22 per cent by 2010, up from the present four per cent.
Managers of some large retail stores are responsible for millions of dollars in yearly revenue and for hundreds of employees. They use sophisticated software to manage budgets, schedule work, track and order products, set prices, control inventory, manage shelf space, and assess product profitability. First-line managers of retail sales workers supervise the employees in specialty departments. These managers train employees and schedule their hours; oversee ordering, inspection, pricing, and inventory of goods; monitor sales activity; and make reports to store managers.
The retail industry is changing rapidly, diversifying their inventories and providing a greater variety of services to cater to the one-stop shopper. Larger stores are offering amenities such as dining areas, coffee shops and groceries. Changes will continue as competition increases, presenting new opportunities for those with the proper education and skills.
In Arizona, first-line managers of retail sales workers are expected to increase rapidly due to population growth and competitive changes in the industry. Store managers will also increase, but more slowly.
First-line Supervisors/Managers of Retail Sales earn an average of $16.05 an hour, or $33,384 per year. Store managers receive an annual salary range of $47,180 to $62,317 and often can earn a bonus based on store performance. Managers in highly profitable stores generally earn more than those in less profitable stores
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