There has never been a more interesting time to work in Retail!
With the steady decline of brick & mortar storefronts and the emergence of new and innovative online shopping services, the Retail landscape is rapidly changing. What might seem like a challenging environment, this constantly evolving industry actually offers many lucrative new opportunities for professional development.
Despite all of this change, there are still a few common misconceptions about starting a career in Retail.
1. There are only in-store jobs
Consumer goods undergo a long and extensive journey before they finally make it to the shelf – and retailers are a key part of this process. Retail companies are large, complex organizations with many departments that collaborate on the different aspects of creating a product. There are various functions such as Sales, Marketing, Finance, Supply Chain, and Human Resources – just to name a few. With so many sectors and different positions to choose from, it’s easy to find your career fit in Retail.
2. No growth opportunities
Companies within the Retail industry are constantly expanding. As they grow, they require more resources and new employees to help support the business and meet increased consumer demands. As such, this field is continually hiring, and offers tremendous growth opportunities for both future and current employees.
In addition, it takes several levels of management to operate a large Retail organization efficiently. Furthermore, each department within the organization contains its own supervisors and internal administration. With all of these potential leadership positions, there is plenty of room to grow within a company and very little risk of remaining stagnant in your career for too long.
3. It’s boring
The digital revolution has radically impacted the Retail industry in North America. The way consumers shop, look for product information, and interact with advertising has changed dramatically compared to the previous decade. In recognition of this development, consumer goods companies are undergoing major organizational restructurings in order to adapt to these changes. This constant evolution makes the Retail industry incredibly interesting. The way Retailers would run businesses in the past is very different from how they will be run in the future; amidst these innovations, they must diversify and develop their competencies in new areas. In short, a career in Retail will have you facing an unprecedented challenge every day.
4. It won’t help you stand out as a professional
Quite the opposite! Retail experience will actually give you a competitive advantage in the job market. A career in Retail can teach you the fundamentals of how a business operates, from the high level strategic thinking all the way down to the point of purchase. You can also learn important skills such as negotiation, project management, working cross-functionally, strategic thinking, and most importantly, leadership. Throughout all of your professional endeavors, you will find that these skills are highly transferable and will equip you with what you need to be a high-performing business leader.