Product management in retail is a key function that oversees the planning, development, and execution of all aspects of a retailer’s product offering. This includes working with suppliers to source and develop products, managing the product portfolio, and developing pricing and promotion strategies.
Product managers play a critical role in developing and executing a retailer’s overall business strategy and need to have a strong understanding of both the retail industry and the specific product category they are responsible for. They need to be able to identify consumer trends and develop products and pricing strategies that align with the retailer’s target market.
Strong communication and collaboration skills are also essential, as product managers need to be able to work closely with other functions within the organization, such as marketing, store operations, and merchandising.