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Retail Professionals: Do Not Delay Preparing for Digital Retail

Date: 28/09/2020   l   Category: Retail

The value of the Digital First Retail Management Program of the IIM Bangalore

The retail industry is underpinned by eCommerce, omnichannel, digital marketing, and data. There is only one Retail industry and that is the digital retail industry. 

 All retail professionals must have a digital-first mindset as they take everyday business decisions.  

I wanted to transform myself and looked around the market for a good long-duration program that would help me transform myself. I could not discover one program!

Disparate programs existed that taught functional skills like digital marketing or data science. eCommerce and omnichannel could only be learned by doing. No program knit all knowledge streams for the retail industry.

There is an acute gap in executive education programs that help retail professionals acquire digital knowledge and thinking.  

We designed Digital First Program with a simple question in mind; if I was a retail professional, what new skills would I need. 

And we have launched the program after I have transformed myself by acquiring and implementing new capabilities. I have started three digital startups.

The DigitalFirst Retail Program (DFR) is for you, if: 

 ?     You are a retail professional 

?     Have been in the industry for more than 10 years

?     And feel the need to invest in your skills to be capable and competent

And wish to learn how to:

?     Create and Manage an eCommerce business

?     Establish and manage an omnichannel retail business 

?     Strategize and execute a digital marketing strategy for a retail industry

?     Learn how to build a data analytics capability

As we created the program, I discovered that no program from any Institute or College or Business School in the world comes close in terms of content. 

I am a practitioner, I know what is needed, I have experienced the need.

Why?

?     Most business schools were teaching from a brick and mortar perspective

?     I designed the program from a customer-centric perspective

?     Most colleges looked at digital as an adjunct strategy

?     I created the program from a customer engagement perspective, and hence it became a digital-first program 

What is unique about DFR? 

?     The curriculum is forward-looking, created with emphasis on the digital-first approach. 

?     This means that every decision and choice made by managers is based on a digital customer and their journey

?     You will learn eCommerce, Omnichannel, Digital Marketing, Merchandising, Pricing, etc. from a digital mindset.

?     You will learn how to be entrepreneurial using an agile mindset to test and discover new retail strategies. 

?     Combination of academics and practitioners (entrepreneurs) who have done it and speak from experience.  

The rest of my thoughts are presented based on the topics: Model, Curriculum, Network, Faculty, and ROI. 

Model: The program is modeled on getting professionals to return to college to go through an intensive program, without having to leave their jobs. 

Program Curriculum: The curriculum is designed by a retail professional. It is curated, and learning happens in five days. 

Section

Modules 

1

Digitalization of retail 

2

Digital consumer behavior 

3

Multi-channel and omni-channel retail

4

How digital impacts merchandising 

5

Building blocks of digital retail

6

Customer acquisition and demand creation 

7

New business models

8

Impact on cost structures, and performance metrics

9

New retail value drivers 

10

Develop organization capability acquisition plans 

11

Meaning of agile for transforming an organization

12

Managing a digital retail organization 

Each phase is uniquely designed to give a full spectrum of theoretical and case-based learning experiences. The IIMB certification on completion adds value to the program. 

Faculty: The Faculty is highly experienced. The professors use a unique approach to address the management issues for the retail industry with the help of case studies, giving a holistic overview of the practical managerial situations.

Network: You meet people from diverse career backgrounds who are at different senior levels in their careers. This boosts the classroom discussions as well as you gain a lot of professional insights. You get to become a part of the most dynamic group of friends that you can leverage on at any given point in your career. 

ROI: The course offers ample benefits. Several intangible assets like strong alumni connection, a network you can leverage upon any time in life. The award of certification that recognizes your learning throughout the tenure, adding the highest value to the ROI. The program will make a difference in every candidate’s career life in different ways (in their current company or outside). A personality change in the participant is experienced by their family and peers after the course. This is based on a shift in perspective that occurs. You become more nuanced, more sensitive, and more in-depth. 

Having mentioned the key features and benefits of the program, I invite retail professionals not to miss upon this opportunity to learn to manage retail in the digital age and enhance their career growth digitally.

Register today to know more about the program- ……………………….