MBA in Retail vs. Hospitality Management: Opportunities and Industry Demands
MBA in Retail Management:
Retail management refers to the day-to-day store operations, merchandise display, and customer service, as well as strategy formulation, sales optimization, and brand promotion. A retail management degree prepares you for careers in the retail industry, specifically in managerial and leadership roles. This degree program provides students with the knowledge and skills to effectively manage retail operations, including stores, e-commerce platforms, and related businesses.
Retail Management Specialization:
As the retail sector expands, so do its areas of specialization. Some of the most common specializations in Retail Management are:
- E-commerce and Digital Retailing
- Fashion Retailing
- Grocery and Supermarket Management
- Supply Chain and Logistics in Retail
- Customer Relationship Management
Career Opportunities:
Retailing is a dynamic industry, comprising a vast variety of sectors, and is home to some of the world’s biggest companies. Candidates with retail management can start a career in supervisory, client communication, merchandise shipment, sales, management, and administrative services. The job roles in which the candidate can work are:
- Retail manager
- Store manager
- Merchandiser
- Analyst
- Supply chain distributor
- Brand manager
- Customer care executives
- Marketing Executive
- Image Promoter
The job descriptions of the graduates who work in different sectors of the retail industry are as follows:
| Job Roles |
Job Description |
Average Salary (INR) |
| Retail Manager |
The primary responsibility is to manage staff, which involves hiring, training, motivating, and at times disciplining employees. |
1.9 L- 15 L |
| Marketing Executive |
The role also involves monitoring, and analyzing the success of marketing campaigns and making recommendations for future campaigns based on these results. |
4 L |
| Image promoter |
The primary tasks include designing and implementing promotional campaigns, creating innovative marketing strategies, and carrying out market research to understand the competition and potential target audience |
2,11,150 |
| Brand Manager |
The primary responsibility is to develop a brand strategy, promote brand growth and expansion, implement brand plans, and use a variety of data to drive volume and profitability |
8,73,288 |
| Store Manager |
Is responsible for overseeing a store’s operations and employees to ensure staff provides quality customer service to shoppers. |
2.1–9 L |
Industry Demands:
Over the last couple of decades, the retail industry has faced multiple challenges. Labor shortages, supply chain disruptions, and digital transformation have been driving retail managers out of their comfort zones to seek new and unconventional ways of doing business.
Retail managers have multiple roles in the industry. These range from managing budgets and financial records, managing stocks, and analyzing sales data to dealing with customer grievances, recruiting and managing staff, and liaising with head offices.
With e-commerce platforms, such as Amazon and Alibaba, retailers have to deal with technology, the brand, and last-mile delivery.
MBA in Hospitality Management:
An MBA in hospitality Management is a Master of Business Administration program that offers a specialized track or cluster of courses in skills and knowledge specific to the hospitality industry and hospitality business management. Students in these programs complete a core MBA curriculum of courses in accounting, business law and ethics, financial management, marketing, personnel and operations management, and organizational communication and leadership. In addition, students take several courses that focus on the challenges associated with managing hotels, restaurants, resorts, convention centers, golf courses, entertainment centers, and other businesses that function within the hospitality industry.
An MBA in Hospitality trains graduates to uncover consumer trends, develop innovative brand strategies, and increase the end of hospitality, analytic thinking, a strategic mindset, Qualitative skills, and sound decision-making are key.
Career Opportunities in Hospitality Management:
Hospitality management involves all the tasks and aspects of managing a hospitality business. These businesses focus on welcoming customers and providing them with pleasant experiences through dining, lodging, events, entertainment, or travel. The job roles for which graduates are hired by top industries are as follows:
- Hotel manager
- Restaurant Manager
- Front office manager
- Housekeeping Manager
- Travel Agent
- Travel guide
- Event Planner
- Marketing Manager
The job description of the graduates who work in different sectors of the Hospitality management are
| Job Roles |
Job Description |
Average Salary (INR) |
| Hotel Manager |
The primary role is to use business, management, and interpersonal skills to oversee the day-to-day operations of a hotel, motel, lodge, inn, or resort. |
4.4 L |
| Front Office Manager |
The primary responsibility is to oversee the actions of front office staff, accounting, record keeping, answering phone calls, and interacting with customers. |
2.8 L |
| Travel Agent |
conducting research and consulting with customers, booking flights, cruises, car rentals, hotels, tours, restaurant reservations, and event tickets. |
2,77,740
|
|
Event Planner
|
The primary responsibility is to ensure the event runs smoothly by booking event sites, hiring caterers, photographers, and other vendors, consulting with customers, overseeing staff, negotiating vendor contracts, and supervising event setup and breakdown. |
6,36,000 |
Industry Demands:
The coronavirus pandemic greatly affected the leisure and hospitality industry, but this sector is bouncing back in India. By 2027, experts predict income from India's travel and tourism market will grow to (US) $125 billion as compared to roughly (US) $75 billion in 2020. Therefore, the job outlook appears bright.
The guest-centric hospitality industry is always changing as customer expectations and demands tend to shift. Some of the latest trends in the hospitality industry in 2024 include the integration of new technology innovations, such as:
- artificial intelligence-enabled customer service
- contactless check-ins and personalization of experiences enabled by Internet of Things (IoT) devices
- the rise of bleisure (combined business and leisure) tourism
- new eco-conscious travel options and partnerships
- customized guest experiences enabled by data analysis
- new subscription-based business models.
MBA in Retail Management vs MBA in Hospitality Management
| Particulars |
Retail Management |
Hospitality Management |
| Course Duration |
2 years |
2 years |
| Eligibility |
- Candidates must possess a bachelor’s degree with a minimum of 50% aggregate marks.
- Must have appeared in any of the entrance exams like CAT, MAT, CMAT, GMAT, XAT, ATMA
|
- Candidates must possess a bachelor’s degree in a discipline such as B.Com/ B.Sc./ BBA / BHM with minimum 50% aggregate marks.
- Must have appeared in any of the entrance exams like CAT, MAT, CMAT, GMAT, XAT, ATMA
|
| Specialization |
- E-commerce and Digital Retailing
- Fashion Retailing
- Grocery and Supermarket Management
- Supply Chain and Logistics in Retail
- Customer Relationship Management
|
- Tourism Management
- Event Management
- Luxury brand management
- Hospitality Business Administration
|
| Total fees (INR) |
9,000-4,00,000 |
54,000-4.55 Lakhs |
| ob Profiles |
Retail Executive, Advertising Manager, Administrative officer, Regional Manager, Sales manager, etc. |
Hotel Manager, Event Manager, Food & Beverage Manager, Restaurant Manager, etc. |
Top Colleges:
The institutes offering MBA in Retail management & Hospitality management:
| Retail Management |
Course Fee (INR) |
Hospitality Management |
Course Fees (INR) |
| Asian School of Business Studies |
6,46,000 |
Alliance University |
6.25L |
| I BMR Business School |
1,75,000- 5L |
Lovely Professional University |
2.66L |
| SJMSOM, IIT Bombay |
14.07 L |
Amity University |
3.75 L |
| NM IMS |
42,00/ Semester |
NM IMS University |
1.77 L |
| BIMTECH |
13L |
Chandigarh University |
5,91,143 |
| ASM, Delhi |
8,70,000 |
DR D Y Patil University |
1.69 L |
| Amity University |
3,57,000 |
Deccan School of Management |
35,000 |
| International Institute of Management Studies |
9.27–11 L |
Bangalore University |
30.070 |
Top recruiters:
The MBA Graduates in Retail and Hospitality management are provided with enormous job opportunities from various reputed companies. The pay scale for various sectors of in hospitality and retail field is generous. A few of those recruiters who hire graduates are:
For Retail Management:
- Pinnacle Solutions
- Talpro
- DMART
- Adidas Group
- Reliance Retail Limited
For Hospitality Management:
- TAJ Group
- OYO
- Yatra
- MakeMyTrip
- Thomas Cook
For more information on MBA Specializations and their career scope visit, planedu.in
FAQs:
- Is the Hospitality Industry growing or declining?
After the Pandemic period, the industry faced severe losses and shutdowns, but the industry has now re-entered a period of success in the past couple of years with high demand from the public. Smart hospitality leaders keep tabs on the changing business environment to be in the race.
2.Is an MBA in Management the right option, or should I opt for Hospitality Management?
Both fields provide advantages of their own and the pay scale offered is good in both sectors. If you want a regular stable working environment you can opt for retail management whereas hospitality management is best for those who want to explore new environments, try adventure, and travel frequently.
3.Which are the job roles I can choose after my MBA in Retail Management?
MBA in Retail Management offers enormous job opportunities in roles such as Retail manager, Sales Manager, Brand Manager, Store Manager, Marketing Executive, etc.
4.Which are the job roles I can choose after my MBA in Hospital Management?
MBA in Hospitality Management offers enormous job opportunities in roles such as Event Manager, Hotel Manager, Travel Guide, Travel Agent, Tourism Consultant, Cruise Line Manager, etc.
