Indian retail market is one of the attractive ones globally. Ejaz Hoda, CEO, Market Pulse, a syndicated market research company, tells FE?s Abhishek Chakraborty that a course in retail research can widen up the prospects of getting a job as the market is growing at the rate of 20% in India. Excerpts:

What are the career prospects in the retail research market?

Retail research is a niche service within the domain of marketing research. It involves tracking the performance of brands in different product categories in the retail market. Since this research is extensive, it is usually syndicated to reduce the cost for every company subscribing to the monthly performance reports. And this leads to good career prospects.

What are the emerging trends in the same?

Opportunities in marketing research are global in nature and call for a rich understanding of market culture and quantitative approaches. Retail research is the gathering of information concerning consumers? opinions, tastes, needs and desires. This data is compiled through a variety of methods and used by companies to decide what types of products and services fit the demands of the public. Market research analysts perform the day-to-day work of the marketing research industry. Since organised retail has become a major contributor in many product categories and geographies, marketing research firms are signing data-sharing agreements with the retail chains that provide data electronically.

What is the current industry status?

The domestic retail research market is estimated at more than R250 crore and is growing at 20%.

What is the eligibility criteria for pursuing jobs in this sector?

People who can combine the knowledge of marketing with analytics expertise will command a premium in this area. Working knowledge of statistics is a prerequisite. A bachelor?s degree is a minimum requirement.

Which institutes in India offer these courses?

Mudra Institute of Communications offers market research programmes. B-schools like IIMs, FMS, Jamnalal Bajaj, XLRI and MDI also provide similar courses.

What is the remuneration one can expect?

In general, salaries of market researchers are relatively high in India. Since this category of job often calls for a master?s or even a doctorate, starting pay can be quite good. A qualified fresher can expect starting salaries of R4-6 lakh per annum. With some training and experience, salaries can rise almost threefold in 3-5 years.