Merchandisers are responsible for the quantitative management of buying based on the projected and current sales of the stores. They are also responsible to ensure that products are available in the store at the right time and in the right quantity. This function is coupled by deep analysis and understanding of the sale trends and making the right adjustments based on the available data.
This involves working closely with the buying team to accurately forecast trends, plan stock levels and monitor performance. While the buyer selects the products, the merchandiser decides how much money should be spent, how many lines should be bought and in what quantities. This shall be based purely on data and past trends and future sales projections.
Merchandisers play a key role within organizations, as profitability can be affected by how successfully they undertake their work. Merchandisers coordinate in setting up buying quantities to maximize profits and manage the performance of ranges, planning promotions and markdowns as necessary. They also oversee delivery and distribution of stock.
Key Responsibility Areas
Planning product range budgets and preparing sales and stock plans with buyers.
Liaising with buyers, analysts, stores, suppliers and distributors.
Maintaining a comprehensive library of appropriate data.
Working closely with staff for visual display and department heads to decide how goods should be displayed to maximize customer interest and sales.
Forecasting Sales Trends.
Margin Forecast and Management.
Optimizing the sales volume and profitability of designated product areas based on the Volume and Sales.
Planning budgets and presenting sale forecasts and figures for new ranges.
Controlling stock levels based on forecasts for the season.
Managing OVER-BUYING and OVER-STOCKING of merchandise based on sales forecast.
Continuous Margin Control Checks and identifying low margin low sales products.
Identifying and Planning list of products which don’t justify sales and margins.
Using specialist computer software, for example to handle sales statistics, produce sales projections and present spreadsheets and graphs.
Analyzing every aspect of bestsellers (for example, the bestselling price points, colours or styles) and ensuring that bestsellers reach their full potential.
Monitoring slow sellers and taking action to reduce prices or set promotions as necessary.
Gathering information on customer’s reactions about products.
Analyzing previous season's sales and reporting on the current season's lines.
Making financial presentations to senior managers.
Accompanying buyers on visits to manufacturers to appreciate production processes.
Meeting with suppliers and managing the distribution of stock, by negotiating cost prices ordering stock, agreeing timescales and delivery dates, and completing the necessary paperwork.
Identifying production and supply difficulties and dealing with any problems or delays as they arise. Managing, training and supervising junior staff.
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