Center for Retailing Studies at Mays Business School: Inspiring the Future of Retail

Inspiring the Future of Retail

From the Director Since 1983, the Center for Retailing Studies has served the retailing industry as a leading source of next-generation talent, a hub for networking and thought leadership, and a source for cutting-edge research on the retail consumer and future of the retail landscape.

As the first center of its kind housed within a business school, our curriculum provides our students with the foundational knowledge needed to be successful leaders in a retail enterprise or to utilize their skills to pursue a path of entrepreneurship. Outside the classroom, our program provides transformational learning experiences such as traveling to industry trade events, academic competitions and participating in several student organizations.

In addition, we are fortunate that our program benefits from the support of leading retailing organizations from across the country who believe in our mission of inspiring the future of retail, serve as corporate partners of our program, provide executive speakers, facility tours, and scholarships for our students.

Beyond providing a great career path, retailing also provides many opportunities to make a positive difference in the world. Leaders in retailing today come from varied backgrounds and reflect how the industry offers endless avenues to anyone willing to work hard and grow themselves and those around them. Retailers are also at the forefront of utilizing advancements in technology to improve their business and how they serve their customers.

Scott Benedict Executive Professor & Director

Without a doubt, there has never been a more exciting time to pursue a career in retail at the Center for Retail Studies!

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State of Retailing Today

The impact of the COVID-19 Global Pandemic was felt throughout the retail community. However, retailers led the way in providing essential goods and services to the nation such as food, prescription drugs, and cleaning supplies, and many rapidly deployed new delivery and pick-up options that enabled consumers to obtain critical purchases while minimizing the risk of exposure. Technology retailers provided needed products and connectivity so that families could work and learn from home during times when quarantines and stay-at-home orders were common across the country. Front line retail workers kept store shelves stocked, maintained a clean and safe shopping environment, fulfilled curbside and eCommerce delivery orders, while supply chain heroes in distribution centers, ports, and trucking firms kept goods flowing in the most challenging of times.

As our nation emerges from the pandemic, the retail community is taking a leading role in the economic recovery. Retail sales continue to rebound strongly, with the National Retail Federation raising its industry growth projections for the year to more than 10.5% growth and for industry revenue to exceed $4.44 trillion in 2021. In addition to the overall sales volume of the US retailing industry, the industry’s impact on economic growth and employment is also significant. According to the NRF, the 4.2 million retail establishments across our country directly employ 32 million people and supports over 52 million American jobs, contributing more than $3.9 trillion to the U.S. GDP annually. The US retail industry remains the nation’s largest private employer.

In addition to the business impact of retail, the industry has also played a leadership role in areas that are critical to society in general. From environmental sustainability, diversity & inclusion, economic empowerment, social justice, entrepreneurship, and philanthropy, retailing continues to be a force for positive societal change.

In short, the future of retail is bright, and our mission remains rooted in inspiring the future of retail – a large, dynamic, and exciting industry. There has never been a better time to pursue a career in retailing than right now!

Join Our Mission Educating Retail Industry Leaders Our academic mission is rooted in a strong curriculum of classroom study in the core elements of retail enterprise leadership, including fundamental skills such as merchandising, strategy, product marketing, buy planning, forecasting, assortment planning and more. Beyond the classroom, our students are offered transformational learning experiences through involvement in retailing student organizations, executive guest lectures, visits to retail headquarters and major markets, involvement in student programs with the National Retail Federation as well as other respected industry trade groups. Because retailing is a dynamic, fast paced and rapidly changing business, our curriculum is undergoing continuous improvement to assure that we provide our students with the skills employers will need in the future.

Developing Stronger Industry Networks The Center for Retailing Studies serves as a “hub” that connects leaders in both industry and academia, working to create and share industry knowledge, expertise, best-practices and innovation that advances the industry and disseminates valuable insights to the broader retail community. Our flagship event is our annual Retailing Summit, held in October of each year in Dallas, and which brings together leaders from across retail enterprises, trade groups, service organizations and the academic community for a day and a half of informative discussions on the latest trends impacting the industry.

Fostering Industry Research Our award-winning research faculty continues to lead industry knowledge in areas of innovation in customer experience development, marketing in the digital age, and the evolution of retail organizational structures to adapt to a rapidly changing business environment. We partner with organizations from across the retail spectrum to research, develop and share knowledge that advances our industry and prepares us to serve consumers effectively in the years ahead.

Retailing Curriculum

Students who complete Strategic Retailing Track coursework are well equipped for leadership roles in a retailing enterprise, with a particular focus on retail merchandising, marketing, inventory management, demand planning, strategic planning, or omnichannel strategy. Recent updates to our curriculum emphasize skills required in both digital and physical retail and more application-oriented activities that provide hands-on experience for our students.

Potential Jobs/Career Paths • Assistant/Associate Buyer or Merchandising Analyst • Category Manager, Inventory Manager, Replenishment Manager or Product Manager • Product Marketing, Strategy or Project Manager • Site Merchandising Manager, Vendor Manager, or Online Merchant

MKTG 325 Foundations in Retailing and Services

MKTG 425 Retail Merchandising

MKTG 426 Digital Merchandising

MKTG 427 Retail Capstone

Exploration of retail strategies around the marketing mix such as channels of distribution, private labels, customer service levels, visual presentation, and pricing that influence a retail business model; investigation of how service organizations require a distinctive approach to marketing strategy in development and execution.

Theories, concepts and practices relating to the merchandising of products for enhancing sales and profit growth of retail businesses.

Investigation of the theories, concepts and practices relating to the successful merchandising of products & services for a digital retail enterprise on a website, mobile app and mobileoptimized website.

Initial discovery of the role of Web Analytics tools & processes to drive conversion rate optimization.

Application of the problems and opportunities faced by retail buying organizations; development of an effective strategy through applicationoriented activities, research into industry trends, development of buy plans, product assortment planning, competitor analysis, and the buyer’s role in product development.

Emphasis on retail math, purchasing decisions, vendor negotiations, communications skills, assortment planning and competitive analysis.

Transformational Learning Experiences M.B. Zale Leadership Scholars An elite, two-semester long program focused on professional development and leadership skills for top retail students within Mays Business School.

Zale Leadership Scholars participate in a variety of learning experiences such as roundtables with retail executives, travel to retail HQ offices and flagship stores, networking, mentoring opportunities, professional development modules, and reflective writing. Students selected to be a Zale Leadership Scholar also help lead the Teens in Retailing Program, centered around mentoring and educating teens in the local area about career opportunities within the retail industry.

Student Retailing Association Open to all majors at Texas A&M University, SRA serves students who are interested in learning more about the retailing industry, while sharpening their professional development and networking skills.

Each year, SRA hosts more than a dozen retail executives who discuss topics such as company culture, leadership, and what a day in the life might look like in different retail roles.

Students learn about industry trends, challenges, and career opportunities while growing their professional network.

LeAnn Percivill ‘20 2020 NRF Foundation Next Generation Scholarship winner

Opportunities • New York Fashion Week • Private Label Manufacturing Expo, Chicago

• National Retail Federation

Student Program, New York City

• Retail store & HQ tours to NYC, Austin, Dallas, Houston

• Retailing Summit in Dallas • YMA Fashion Scholarship Fund

Sharing Industry Knowledge

Retailing Summit Thought Leadership

Who Attends

We are proud to host the premier industry-focused retailing conference by a Tier 1 academic institution in the country.

The Retailing Summit attracts a diverse audience of retailers and decision makers with executives from established brands; including brick-and-mortar and online companies, specialty retailers, major grocery chains, and more.

The annual Retailing Summit serves the retailing industry by providing cutting-edge knowledge, high-value networking opportunities, and practical business solutions.

Interested in presenting a keynote or sponsoring the Retailing Summit? Contact us: tx.ag/ContactCRS

retailingsummit.org

Industry Research Collaboration

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We conduct leading-edge research on critical business challenges using stateof-the-art research methods, such as machine learning, artificial intelligence, and A/B testing to enable retailers to make smarter, data-driven decisions.

We like to collaborate with retailers, technology firms, and consulting companies on wide-ranging issues, including technological impact, CRM, and retail analytics, to create new knowledge to improve business.

Venky Shankar Coleman Chair Professor of Marketing Director of Research

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Getting the most out of research Faculty expertise at Mays Business School includes consumer buying behavior, marketing strategy, retail pricing, supply chain management, e-commerce, innovation, product innovation, among others.

tx.ag/CRSresearch

Access to Talent We Develop Leaders The core values of Texas A&M University are rooted deeply into our retail program. Excellence, Integrity, Leadership, Loyalty, Respect, and Selfless Service are instilled into our students and are carried forward as they move into their professional careers. With a foundation in business, students in our program are more prepared to step into leadership roles, work hard, and make a positive impact.

Recruitment Opportunities Held in the fall and spring semesters, one of our key recruitment events is our Retailing Career Fair, which serves to connect industry leaders with their next intern or full-time hire.

Additionally, our team will work directly with our corporate partners to design customized oncampus engagement opportunities such as company informationals, networking events and showcase days providing more visibility with our students.

tx.ag/RetailingCareerFair

Student Profile

Shannon Perkins ‘20 MS Marketing ‘21

Neiman Marcus Group Executive Development Program

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During my time with the Center for Retailing Studies I’ve developed so many connections and opportunities outside of school with various retail companies, which led to my internship with H-E-B. Being involved with the Student Retailing Association expanded my knowledge of the retail industry. I was able to network with recruiters and executives, travel around Texas and to New York City for headquarter visits, and ultimately land my dream job with Neiman Marcus.

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Getting Involved The Center for Retailing Studies welcomes involvement in our program from organizations that share our commitment to inspiring the future of retail. We offer a number of ways that your organization can get involved, including:

Corporate Partnerships

Bi-Annual Career Fairs

Retailing Summit

Research Projects

Executive Lecture Series

Facility Tours

Internships

Learning Experiences

Educational. Experiential. Transformational. Global.

Partnering With Us The Center for Retailing Studies provides multiple ways for involvement including:

• 4 Tier Partnership Opportunities • Event Sponsorship • Endowing Scholarships • One-Time Gifts Benefits of involvement vary, but each of these opportunities include company and donor recognition and provide hands-on learning experiences, world-class education, and professional development that not only inspires the future of retail but ensures that our students have the skill set and preparation to become the industry leaders of tomorrow.

Contact Us 979.845.0325

Scott Benedict, Executive Professor & Director sbenedict@mays.tamu.edu Lauren Osborne, Assistant Director losborne@mays.tamu.edu

Give today. Impact tomorrow.

Corporate Partners Premier Level

Partner Level

tx.ag/CRSpartners

Corporate Partner Spotlight

Rob Hall ‘89

Group Vice President H-E-B

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H-E-B has been involved with the Center for Retailing Studies for decades.

The partnership has proven to be very successful, educational and instrumental in finding top quality students that have made huge impacts across our company.

The Center for Retailing Studies does a tremendous job preparing students for the workforce. The experiences, thought leadership, expanded research, and overall education are exceptional. Texas A&M students are well equipped and prepared to make a difference immediately in any organization.

We have been impressed with the Retailing Summit that has provided gifted speakers, insightful thought leadership, and the access to meet and get to know top CRS students. Retailing Career Days and H-E-B Day have given our team exposure to top talent across Texas A&M. We have been impressed with our collection of management interns and full-time hires and plan to continue our strong relationship with CRS and Texas A&M.

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Mays Business School

The Center for Retailing Studies is strategically located within the Mays Business School at Texas A&M, providing our students with a full business education, rooted in Aggie Core Values. Mays ranks among the top public business schools in the country for our programs and faculty research. Mays is accredited by AACSB International, the premier accrediting agency and service organization for business schools. With a worldwide network of more than 64,000 former students, we have a close-knit and supportive alumni community of Aggies who are willing to help open doors for other members.

Vision & Mission Mays Business School’s vision is to advance the world’s prosperity. To advance the world’s prosperity means providing a better future for generations who follow, including quality of life, environment, and economic systems. To fulfill this vision, our mission is to be a vibrant learning organization that creates impactful knowledge and develops transformational leaders.

mays.tamu.edu tx.ag/corevalues

crs.mays.tamu.edu

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979.845.0325

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tx.ag/ContactCRS

Follow Us | @TAMURetail

Inspiring the Future of Retail