Online Retail Management Degrees, Certificates, Diplomas from Top Colleges and Universities

Online Degrees in Retail Management

Listed below are colleges and universities that offer online degrees or certificates in Retail Management and a detailed list of the programs that are offered.

Work to the Top with a Career in Retail Management

When Joyce Shoemaker started her job as a department store 'gift wrapper' she probably didn’t know that it would be the first step to becoming a successful retail operations manager years later. She began by simply taking advantages of opportunities in the store dressing mannequins and displays and worked her way up.

'I loved combining product and environment to encourage a sale, develop the 'flow' of merchandise in the store, and highlight certain trends in strategic locations,' she said in an interview with VisionAware.org.

In retail management, many upper level managers started out their careers on the low-end of the totem pole. It started by getting their foot in the door and using their passions and talents to work their way up.

Becoming a Retail Manager

'[My job] requires that I stay informed about new product development and be up-to-date with all up-and-coming product research,' she said. Retail managers are responsible for how smoothly a store runs. They overlook payrolls, merchandise inventory, employees and customers. There are four specific areas managers need to excel and be educated in:

planning
organizing
communicating
monitoring

Managers need to be able to oversee every operation within the store, from keeping the store visually appealing to ensuring motivating employees, and look into the future to ensure smooth sailing.

Pros of the Position

Some pros of being a retail manager are that the pay is typically higher. You will be the decision maker for the stores decisions and strategies. Your job responsibilities will include many different aspects of the store, so your job is exciting and fresh every day. One day you may be brainstorming new products to bring into the store, and the next you may be planning a sale or a new store display.

Things to Consider

However, being at the top can have some stress. With more responsibility, you’re more legally more responsible for the well-being of the entire store. Also, since the position is so competitive, you’ll be constantly proving yourself to be fit for it. At the beginning of your career as a retail manager it may be difficult to catch on to the many different facets of the job. Since it is an all-encompassing position, you’ll have to quickly become an expert in every area, from managing store and employee finances to learning to communicate effectively with those below and above you. Since there are a lot of people in retail, keeping the job may be as competitive as it was to get it, but ultimately it’s worth the battle.

Climbing Your Way Up

To set yourself apart from your associates and coworkers, volunteer to learn more about the store and how it runs, and ask for more responsibilities. Get to know your customers and what they are looking for. Learn to market your store in a way that it attracts the business you want. Not only will your boss notice your interest in staying with the store in the long run, but you’ll have a head start on other manager candidates. Don’t be afraid to make your accomplishments and initiative known to your boss and coworkers; your training and hard work will be one of the biggest aids in moving up.

Career Outlook for Retail Management

Hiring from Within

Though retail associates are taking on more responsibilities, retail management positions are expected to grow 5% by 2018, according to the Labor of Bureau Statistics. However, that percentage is lower than most occupations in the U.S. because retail management tasks are being distributed out to existing employees. There are currently more than 2.2 million people employed in retail management, many of who are in grocery stores, department stores, and just general merchandise. The market is competitive, so it's a good idea to get an education and get your foot in the door at a company you would eventually want to manage for.

Worth the Wait?

One of the biggest reasons jobs won’t be increasing as rapidly as other occupations within the next 10 years is that retail manager positions tend to open up only when the predecessor moves up or retires. So if you’re passionate about reaching the top of the management chain, hang in there and work as an associate manager until a position opens up. That way you’ll have a plethora experience to make yourself the most competitive candidate in your store, or in any other stores that you might apply to. Experience is the key. Also, you may want to continually keep your eyes out for new store locations or other opportunities where you could take advantage of a companies need for a new manager position fulfillment.

Salary Forecast for Retail Management

According to the Bureau of Labor Statistics, the median hourly wage for all retail managers is about $16.73, and the average salary is $34,900. Now that salary may not sound very tempting for such a competitive position, but in the insurance, brokerage, automobile and furniture retail industries, salaries are well beyond $50,000, reaching all the way to $97,240.

Salary in retail management also depends on experience. For entry level positions, you can expect a salary ranging from $33,000 to $44,000, but for mid-level and up the salary starts at about $54,000 and goes up to $100,000.

Increase in Education, Increase in Position

Oftentimes, moving up in retail management requires continuing education. At the very minimum, retail managers hold bachelor’s degrees in business or management related fields. However, the most successful and valued retail mangers hold master’s degrees in similar fields. So by increasing your education, you not only improve your chances of moving up, but the degree will be reflected in your salary as well.

Education and Skill Requirements for Retail Management

Here are some ideas for the type of education you need to succeed in this field

Bachelors in Business

At the bare minimum, people trying to get into retail management need to hold a bachelor’s degree in related fields, like business or management. A four year degree will prepare you for the simple and complicated duties of running an entire retail store, whether it’s a clothing store or an automobile chain.

Masters Programs

A master’s degree is extremely valuable to those looking to make it in retail management. Many universities offer a variety of different master’s degrees, ranging from business administration, leadership and management, organization and management, and retail management, all which would be helpful to a retail management applicant.

Internal Promotions within a Company

However, many employees at retail companies can get the opportunity to strive toward management by internal promotions and education. For example, The Home Depot has a program called Professional Retail Management, which assists associates to get a bachelor’s degree. The courses taken through the PRM program go toward a completion certificate, in addition to them counting toward Bellevue University’s professional retail management degree.

Skills Needed

In addition to education, strong leadership and communication skills are a must-have to work in retail management. The job requires the ability to keep a clear-head and delegate responsibility and tasks to employees within the store, so learning to communicate with those employees is crucial.

Online Degrees in Retail Management