DescriptionBuying for retail is a demanding and challenging job that requires a creative flair, a strong awareness of fashion trends, life trends as well as good interpersonal and team working skills. Buyers and merchandisers have to ensure that the right merchandise is being sent to the right stores, at the right time, in the right quantities. This takes a blend of forward planning and rapid response to consumer demands. In combination with the other areas of the business, success comes from maximizing profit, which is achieved through anticipating customer needs and responding rapidly to immediate issues. It involves complex data analysis, liaison with the stores operation teams and balancing store stock levels.
To succeed as a professional buyer, you will need strong analytical and numerical skills, an interest and understanding of consumer demands and strong commercial awareness. You also need to have an ability to understand and prioritize issues quickly and efficiently. Progression into the Merchandising function also involves the ability to manage change. The better equipped you are in your buying function the better you will be able to adapt to these changes. The best change of all is to graduate from a good buyer to an outstanding one!
To handle the complexity of data and to enable you to contribute effectively in the critical role of a buyer, you need the right skill-sets and a right mind-set. Both of which can be learned in The Art of Retail Buying.
This easy to read guide is written in a concise & pictorial style with colorful images that enables you to follow step-by-step each function of a buyer. The Art of Retail Buying will inspire you, motivate you and encourage you towards merchandising excellence!
Chapter 1: Retail Formats 1
Chapter 2: Qualifications- Qualities- Abilities 11
Chapter 3: The Buyer's Roles 29
Chapter 4: Management Expectations 39
Chapter 5: Retail Math 53
Chapter 6: Budgeting 75
Chapter 7: Assortment Planning 95
Chapter 8: Anticipating Consumer Trends 127
Chapter 9: Forecasting Customer Demands 139
Chapter 10: Central Buying 157
Chapter 11: The True Essence of Buying 171
Chapter 12: Buying Merchandise 195
Chapter 13: Brand Strategy 243
Chapter 14: Managing Suppliers 265
Chapter 15: Negotiation 273
Chapter 16: Retail Shrink: The Bare Truth 287
Chapter 17: Lending By Example 307
Chapter 18: Business Communication 317
Appendix 1: International Trade Fairs 341
Appendix 2: Common Terms from The World of Fashion 347
Appendix 3: Catalog of Colors 365
Appendix 4: Common Shipping Terms 375