Discussion: An Introduction to Merchandise Buying.
1. Reading: Textbook: Retail Buying: From Basics to Fashion, Chapters 1 and 2
These chapters provide an overview of the retail environment as well as the responsibilities of a buyer and other careers in retailing.
2. I upload a transcriipt: Video: Fashion Trends & Careers: What is a Fashion Buyer? which provides an overview of the buying process and tips from a New York City fashion stylist.
3.Website: Occupational Outlook Handbook Explore the Occupational Outlook Handbook Index in the Bureau of Labor Statistics website. It provides information about several careers in the fashion industry. https://www.bls.gov/ooh/a-z-index.htm
4. I uploaded a transcriipt for: Podcast: Fashion Design: What Really Goes into Creating a Collection. Listen to this Podcast “Asking for a Friend” by Lauren Conrad: Fashion Design, what really goes into creating a collection. This recording provides information on how buyers develop private label collections for their stores.
5. Review: 1-1 Discussion: An Introduction to Merchandise Buying attachment: You will use this attachment for INITIAL post.
6. Info about myself: My name is LaNette McIntyre, but I prefer to be called Nette. I have always wanted to work in the fashion industry. I enjoy shopping for my friends and putting together outfits. After graduation, I plan to work as a fashion buyer, but eventually I want to be a boutique fashion owner. I really love putting unique outfits together enjoy shopping online im really attach to buying shoes and purses.
7. Review: Initial post Direction attachment
Login information for the additional resources will be available for the assigned writer.
Solved by verified expertThe merchandise buying process begins with market research. Retail buyers need to understand their target audience and their preferences to determine what products will sell well. This research can involve analyzing sales data, conducting surveys, and monitoring trends in the industry.
Once a buyer has identified the types of products they want to sell, they must then source them from suppliers. This involves neg
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The next step is to determine the pricing strategy for the products. Retail buyers must balance the cost of the product with the profit margin they want to achieve. They must also consider the competition and the prices at which similar products are being sold.
After the products have been sourced and priced, the next step is to plan their merchandising. This involves deciding how and where the products will be displayed in the store. Retail buyers must also determine the quantities of each product to be purchased and the timing of their arrival.
Finally, retail buyers must monitor the performance of their products and make adjustments as necessary. This involves analyzing sales data, customer feedback, and market trends to identify areas where changes can be made to improve sales.
In conclusion, merchandise buying is a crucial aspect of the retail industry that requires careful planning, analysis, and decision-making. Retail buyers must understand their target audience, negotiate with suppliers, determine pricing strategies, plan their merchandising, and monitor their products’ performance. By doing so, they can maximize sales and profitability for their retail store.
