What makes a good retail buyer?
Honesty, trust and mutual respect are key in a strong working relationship, and even if it means missing out on a short-term cost cut, long-term reliability is a much more valuable asset for a business, let alone a buyer.
Holding good relationships with salespeople can give buyers access and insight exclusive to them..
What makes a good merchandiser?
Merchandisers need to understand the products and styles in their market and be able to detect commercial movement to up or downgrade stock at just the right time. Data is their BFF. It informs demand forecasts ensuring they’re not left with duds. And it also reveals areas for promotional opportunities.
What does a merchandise planner do?
Merchandise Planner plans and forecasts for future merchandise buys based on historical buys, reoccurring buys and current inventory levels. Responsible for reviewing stock to sales ratios, responding to changing sales trends, and ensuring plan sales, plan markups, and plan markdowns are achieved by departments.
What is the difference between buyer and merchandiser?
A retail buyer focuses on product. They research fashion trends and are responsible for selecting the products that appear in store or online. Retail merchandisers ensure commercial and financial viability of the product.
What is a buyer of merchandise?
Merchandise Buyer selects merchandise for order, places order, and stays involved in inventory distribution. … Being a Merchandise Buyer researches new trends or advances in product lines to make appropriate buying decisions. May require a bachelor’s degree in area of specialty.
What is the first step of the merchandise planning process?
Budgeting is the first stage of the merchandise planning because, first, you need to know how much of your money will be invested or how you can minimize it.