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Merchandise Assortment

Merchandise Assortment. Decisions, Decisions. Good planning is critical Target market analysis Merchandise decisions Pricing decisions. Merchandise Plan. Basic budgeting tool that assists the retailer or buyer in meeting department or classification goals

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Merchandise Assortment

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  1. Merchandise Assortment

  2. Decisions, Decisions • Good planning is critical • Target market analysis • Merchandise decisions • Pricing decisions

  3. Merchandise Plan • Basic budgeting tool that assists the retailer or buyer in meeting department or classification goals • Uses figures from past year to predict plan for current year • Planned sales • Planned stock • Planned reductions • Planned purchases

  4. Merchandise Planning • Method used by retailers to make intelligent decisions prior to purchasing merchandise for store • Prevents over-and under-buying • Can be for entire store or specific departments • Merchandise classification: group of similar items

  5. Components of Merchandise Plan • Planned sales: expressed in $$$ figures and reflect sales goals for the month • Planned stock: $$$ amount of merchandise a store needs in order to meet the sales • Planned reductions: $$$ amount of any markdowns, adjustments, and loss • Planned purchases: $$$ amounts of needed merchandise to meet sales goals

  6. Merchandise Life Cycle • Introduction • Growth • Acceptance • Decline

  7. Assortment Planning Tools • Categorizing merchandise: • Staple merchandise: sells well over a long period of time • Seasonal merchandise: sells well at certain times or seasons during the year • Convenience merchandise: merchandise customers buys with little planning

  8. Assortment Planning Tools • Stock Lists: • Basic stock list: used for items that a store should always keep in stock, same items with a minimum amount to always be kept in stock • Model stock list: used for fashion merchandise, since a shorter life span, list is shorter and without specific stock numbers • Never-out stock list: most popular merchandise in the store with items being added or dropped based upon popularity

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