Retail Product Merchandising: Defining Retail Product Merchandising

Welcome to the Retail Product Merchandising (Section 1, Part 1): Defining Retail Product Merchandising course. “Defining Retail Product Merchandising” provides background information to assist users with understanding about not only the development of the merchandise mix but also the job responsibilities of the retail and product merchandiser. Part 1 (1-1 and 1-2) of Section 1, “Defining Retail Product Merchandising” furnishes information on the retail merchandising components and how to utilize the Buying-Selling Cycle in order to build the retailer’s merchandise mix.

Defining Retail Product Merchandising

Retail product merchandising is intriguing, exciting, fun, and creative. Yet, it can be very stressful, time-consuming and laborious work. Merchandising is both an art and science. Successful merchandisers develop their expertise and make their decisions based on part instinct, part experience, part educational background, and part inspiration. Merchandisers must develop a combination of both creative and number-crunching skills. In other words, they must use both sides of the brain to be successful in their work!

 

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Buying-Selling Cycle

The Buying-Selling Cycle is a never ending circle of retail processes and activities that take place in the retail store continually throughout the year. However, these job responsibilities of the retail buyer/merchandiser are never completed one-at-a-time or on a one-time basis per week, month, or year. The buyer is constantly multi-tasking and attempting to keep abreast of all factors that impact the day-to-day as well as future operations of the business.

 

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