Innovations in Retail Education

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Founded in 1991, ITM Business School was amongst the first private, non-aided business schools in India.  Ranked among the top 50 business schools in India, ITM offers a specialized Retail program. STOrai highlights retail innovations in learning.

The PGDM iConnect in Retail Management & Marketing is the result of a constant dialogue with industry. Designed in collaboration with industry professionals the iConnect Program in Retail Management & Marketing has evolved with changing times. It is aimed at developing, multi-skilled managerial talent by focusing on retail, services management & marketing.

Retail_Learning_2Course curriculum focuses on providing students with an understanding of the day to day operating realities through business simulation, bazaars, on-campus stores and industry interaction events.

1. Retail Lab: Store simulations: Teams of students were allotted a specific format – Convenience, Apparel, Cafe, Shoe and Books. Students simulated the format allotted to them in the retail lab and were evaluated across various parameters by a panel of alumni and judges.  Each store simulation was judged on layout, visual merchandising, vendor relations, human resources management, category management and marketing communications.  Students were required to undertake field visits, interview store staff and then highlight insights from these field visits during their simulation.

Master Class- 2013-15
Experts from the retail industry visit the campus and deliver half day workshops on the area of retail Excellence to the students. The Master Class Series was inaugurated by Mr.B.S. Nagesh, Vice Chairman, Shoppers Stop – he shared his journey in Shoppers Stop from the store’s inception to date. He also shared his mantras for success- “Never say no to work” and “If you want to grow, make yourself redundant by growing your people”

Retail_Learning_3The second session of Master Class was conducted by Mr. Jamshed S. Daboo CEO Trent Hypermarket Ltd . He talked about increasing excellence through enhanced productivity and store profitability

Diwali Bazaar
Every year before the Diwali vacation, students market special products from their home state, obtain orders from staff, students and the neighbourhood community. During their vacation, they purchase and deliver to customers on their return – This bazaar provides students with an understanding of trading, managing finances and customer / buyer psychology.

Bar Code.
Bar code is a 2 day inter-collegiate cultural fete organized by ITM. The event features panel discussions by retailers and offers students the opportunity to interact with industry and assess other business schools.

Retail_Learning_4Retail Meridian
Retail Meridian is an annual, day long event organized by ITM’s Retail forum. The event aims “To create a hub where everyone can learn, apply and enhance their knowledge in all aspects of Retail Management”. The Main Aim of the Forum is to connect, communicate and collaborate with the Industry experts. The event was themed on “Luxury and the Indian connect” and included presentations by Mr. Jaideep Sippy, Founder and CEO Style Kitchen, Ms. Lipi Lal, Celebrity ConsultaRetail_Learning_5nt and Trainer in Luxury skin care, Ms. Rasna Behl, Owner, The Coordinator (which is a image consulting company).

In addition to various events, students run stores on-campus and on-line.Retail_Learning_6Retail_Learning_7

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RAI
Retailers Association of India (RAI) is the unified voice of Indian retailers. RAI is a not for profit organization (registered under section 25 of Companies Act, 1956), works with all the stakeholders for creating the right environment for the growth of the modern retail industry in India. RAI is the body that encourages, develops, facilitates and supports retailers to become modern and adopt best practices that will delight customers. RAI has a three charter aim of Retail Development, Facilitation and Propagation.