A CAREER IN RETAIL
Although some people think of the retail sector as a culture of long hours and of evening and weekend work and that it basically revolves around relatively low-paid shop floor work, there are many positive benefits to be gained by working for a retail company. Some of the benefits and incentives are also relatively unique to the sector and cannot be replicated to the same degree in other industries which also makes it appealing to many.
Scope and Variety
Working in retail has a vast array of meanings. You could be running a global empire as the chief executive, working on a market stall or managing the gift shop of a cruise liner – it’s all retail. Furthermore, you don’t necessarily need to be working on the shop floor or behind a till. There are a broad range of career opportunities which you can pursue within the retail sector – buying, visual merchandising, marketing, finance and human resources are just some of the different types of career you can pursue. It’s also a sector where in some areas you can actually start off at the bottom and work your way up without necessarily needing to gain higher education qualifications although they will still be important if you want to progress further in certain job roles.
Perks
Working in retail also means that you’re likely to be given employee discounts which can be very appealing, especially if you’re working in a store which is connected to your hobbies or interests, for example a book shop or record store. Alternatively, working in fashion retail can save you quite a substantial amount of money if you’re a fashion enthusiast with the staff discounts on offer.
The number of retailers keeps on growing, even with the likes of the Internet accounting for a continual number of retailers who are trading online. Therefore, if you’re just starting out in your career, you can be sure that the career opportunities and benefits which will be available to you will be set to grow even further over the next decade as the sector continues to expand.
Another positive benefit of working in retail is that, unlike some industries which are strategically located in particular locations around the UK, retail is everywhere. Therefore, if you’re ever looking to relocate or if you become unhappy with working for a particular company, it’s a lot easier to jump ship and find work elsewhere than it would be in other careers.
Retail offers unparalleled management opportunities within a short time of starting out. A recent Higher Education Statistics Agency report shows that one third of all recent graduate management positions were in retail. Store management is a great choice if you want to take on significant responsibility at a very early stage in your career. In essence, the job is to manage a business: this means handling a multimillion pound budget, looking for new business opportunities, and overseeing a large team of staff. You could be doing this within your first couple of years.
Flexible career paths
It’s not uncommon in many career sectors for graduates to specialise early on and stay there. The retail sector, in contrast, allows you to move around within a business, because the experience you gain in one area can add huge value to new role in another. Forward-looking employers actively promote people across functions, including between store operations and head office roles. This is good news, as you’ll be able to explore where your talents and interests really lie while building up transferable skills and experience. All you need to do is be open to the opportunities that arise and follow your ambition as far as it can take you.
If you want to travel in your graduate job, consider retail. Buying is the role that is generally associated with travelling to foreign climes, but it’s not the only option. Retail is an increasingly global business: new opportunities are constantly opening up, from Eastern Europe to China to the US. This means that there will be an increasing demand for international managers who can add value to the business wherever they go. Closer to home, if you work in store management you’ll never be stuck doing the same job all day long, let alone behind a computer. Visits to other stores and attending external meetings are an integral part of the role. For those working in head office functions, face-to-face communication with the personnel working in the stores is an important part of working life.
Retail is a very sophisticated and fast-moving business. Changing market conditions, environmental and ethical concerns, staying ahead of competitors, and responding to evolving consumer demands are the key drivers. To meet the challenges, retail employers will need smart, focused graduates who can offer leadership potential, a commercial mindset, an understanding of how the sector works, effective communication skills and the creativity to think laterally, solve problems and respond to change. A career in retail means a career in business – and if you fancy setting up on your own, it is the ideal training ground.
It’s a myth that you can’t earn good money in the retail sector. With increasing experience and management responsibility, earnings can be very lucrative. A recent survey cites top salaries of £75,000 for store managers working in the food industry, with bonuses taking earnings close to £100,000. Senior buyers can expect to pull in £50,000, not including bonuses. Head office roles (for example in finance, IT and human resources) are also rich with management opportunities and professional salaries to match. Many retailers offer great perks including staff discounts, good pensions and bonus packages.
Useful websites
www.acareerinretail.co.uk
www.targetjobs.co.uk/retail
