How Retail Experience Can be Used as a Step up to an MBA in Luxury Brand Management
Managerial experience within retail can be a great jumping-off point for looking for work in other related industries or as a stepping stone to qualifications like an MBA.
If you’re looking to find a career in luxury brand management, your experience within retail management, along with the right qualifications, could be the key to stepping into this exciting and lucrative field. Find what steps you need to take to make your dream a reality.
What jobs can you do with retail experience?
If you’ve spent a lot of time working in retail, you’ll likely have many transferable skills that could be applied in a variety of roles and settings. According to ONS data from last year, over three million people in Britain were employed in retail, demonstrating that there are many opportunities to be had in this sector of the workforce.
Working in a retail environment gives you a deep knowledge and understanding of how a huge industry operates on a base level. Understanding how your shop organises luxury products and what materials and ingredients are used in the products is helpful knowledge that could come in handy later on in your career.
Fashion buyers, logistics, and supply chain managers all use skills that can be picked up through retail jobs. If your aim is to work for high-end luxury brands within the retail industry, there are straightforward steps you can take to achieve this goal.
How to enter the luxury industry using retail experience
The luxury brand industry is a lucrative business and is predicted to be worth nearly $300 million by 2026, according to Global Industry Analysts Inc. Although it can be a tricky industry to break into, its high-end clientele ensures that it’s likely to be a strong and stable part of the retail economy for years to come.
For those who have plenty of work experience within retail, what career opportunities could you take advantage of?
Learn about high-end products
When working in a retail role, providing excellent customer service and using communication skills is a key part of your day-to-day activities. Having a solid understanding of the products you have on offer and the reasons why customers should buy them gives you the chance to deliver outstanding sales pitches that drive up revenue for your store.
If the shop that you work for offers high-end products or products that are from well-known luxury brands, this can be a good opportunity for you to gain valuable knowledge that could help you later on in your career.
For example, if your shop sells a high-end perfume, understanding the marketing, brand strategy, and merchandising of that perfume would be demonstrable knowledge you can use for your CV, interview, and cover letter when applying to that perfume brand for a role or a similar perfume brand.
If you want to specialise in a particular area of the luxury market, utilise the the learning opportunities around as much as possible and understand how you can build on that knowledge in your own time to allow you to stand out when searching for development opportunities.
Gain managerial experience
One of the best ways to maximise your retail experience in order to impress big luxury businesses is by seeking out managerial experience. Getting to the highest level within your team can pave the way for new employment or educational opportunities.
If you’ve been in a role for quite a while, you may already be running a small team or have had a promotion that elevates you above an entry-level retail role. If you feel that you could still be taking on even more responsibility, don’t be afraid to ask if there are opportunities in other stores. Large retail companies often move employees around to ensure every shop is well staffed.
This can be one of the key ways to leverage your retail experience, as employers value managerial experience in any field, as you’ll already have many transferable skills that graduates or less experienced candidates may be missing.
Use your managerial experience to take on an MBA
If you don’t have an undergraduate or postgraduate degree, you may think that you’re not eligible for an MBA (Master of Business Administration). However, if you have five or more years of experience in a managerial role, you can take on certain MBAs.
If you want to move into the world of luxury goods, taking on an MBA in Luxury Brand Management from Ducere would be an excellent choice for those with plenty of managerial experience. Entry requirements are either a Bachelor’s Degree and three years of managerial experience or for those with no higher education qualifications it’s five years of managerial experience.
Courses like these are ideal for anyone who’s looking to break into the luxury industry and turn their dream career into a reality. It’s a chance to learn how to market luxury brands, enact strong engagement practices, understand customer demographic trends and be a leader within a workplace.
If you’ve worked for a high-end brand as a store manager, getting an MBA in luxury brand management could be the ideal next step. If you feel you already have a deep knowledge of a particular luxury brand and have years of managerial experience, this could be the opportunity of a lifetime.
With an MBA, you can break into the luxury fashion industry, working for brands like Louis Vuitton and Burberry in offices all over the world, from New York to London. You could find opportunities as a full-time marketing manager, as an e-commerce assistant, or as an advisor to fashion retailers.
By utilising your transferable skills and a passion for high-end brands, you could be the perfect candidate to take on an MBA in luxury brand management, allowing you to turn your retail experience into a lucrative, long-term career.
If you feel like you have the right knowledge or experience but are concerned about committing to a three-year degree, taking on a one-year MBA that can be balanced alongside your work schedule could be the key the best option for you.
Are you keen to find out more and explore courses that could help you achieve your dream job in the luxury sector? Excited to advance your career in luxury management? Take a look at courses today and begin your education journey.