Classification merchandising

Splitting already specified category departments into smaller comprising sub-categories in order to keep a narrower track on various data like preference trends and sales performances, inventory planning, etc. – for example Top Sweaters further classified into Blouses, Jackets, Sweatshirts. Its application is appropriate for small retailers as well as large department stores and chains.

Retail Fashion merchandisers

Agents and employees occupied in Fashion industry who are responsible for final distribution of the fashion products. Retail merchandiser’s task is to reach out target markets, i.e. kid’s stores (for children’s clothing), department stores, discounters, etc. The job requires keeping touch with the buying teams from stores in order to track and forecast consumer trends, inventory levels and sales performance. Retail merchandisers are presenting fashion items within the stores.

See also: Fashion merchandisers, Sourcing Fashion merchandisers, Production Fashion merchandisers

Production Fashion merchandisers

Executive managers in Fashion industry who are running workflows and timings of production processes in manufacturing the fashion products. Usually Fashion merchandisers who are responsible for the Production take also Quality control which is key operation in overall Fashion merchandising. Strong organizational skills, supervising capabilities and high attention for details are essential at this level of processing here.

See also: Fashion merchandisers, Sourcing Fashion merchandisers, Retail Fashion merchandisers

Merchandise management

Referred to department stores, it is the analysis and planning of successful handling, acquisition and control of retail investments. It is crucial to evaluate consumer behavior and purchasing habits in this field for better inventory, stock and sales planning.

See also: Inventory planning, Financial merchandise management, Retail shrinkage, Pay from scan

Fashion merchandisers

Professionals in the Fashion industry who specialize varied set of activities and operations which are being activated after fashion designers accomplish outlining their projects in order for the layouts to become retail items. The final goal of successful Fashion merchandising process is to ensure that the right fashion item (product) is released in the right store, at the right time and in the right quantities, available for purchase from consumers. The best way scenario is when Fashion merchandisers work closely with the Fashion designers – since the first ones would provide their expertise in things like fabrics price and target market, while the latter would incorporate forecasting and analyses into the creative projects.

See also: Fashion merchandise, Sourcing Fashion merchandisers, Production Fashion merchandisers, Retail Fashion merchandisers

Inventory planning

In the context of merchandise management – once a retailer has set the amount of budget to be spent on buying from vendors, he has to decide what kind of items he will be offering to the customers during the planned period, for example – trendy items, new colors to an existing mix, basic stock, high- or low-priced items, etc.

Fad

Trendy item categories like some electronic games that are being followed with enthusiasm collectively for very short periods of time (less than one season). Usually a fad would fleet as soon as it ceases to imply novelty.
see also: Staple Merchandise, Fashion Merchandise

Fashion merchandise

Seasonal item categories, i.e. high-end apparel, high-tech products, etc., that are in demand for shorter periods of time. Since new version products displace the old and obsolete ones continuously, demand forecasts and replenishment plans require more complex approach.
see also: Staple Merchandise, Fad

Staple Merchandise (Basic Merchandise)

Consumer item categories, i.e. stationery, chemical products, etc., that are in regular demand over longer periods and are being purchased continuously during most seasons. Demand forecasts and replenishment plans are easier generated for this type of merchandise.

see also: Fashion Merchandise, Fad

Unit stock planning

Marketing task aiming to determine proper decision on separate items to be put on production and offered on the shelves of retailers to the customers. These items are the components of merchandise mix (product assorment).

Markup

The addition on the cost of the merchandise and the selling price on the market. It should be considered at the moment of setting a price for a product to the market and it is an important task in order to generate good profits, cover expenses and not to lose customers. Usually it is set by certain percenage cost-plus. Using percentage cost-plus makes adjustments easier when merchandise selling price change at times.

Unit control

Looks at the quantities of merchandise a retailer handles during a stated period. It allows tracking of available stock at a time. Its regular control is vital for any retail activity.

Merchant wholesaler

Independently owned business that takes title to the merchandise it handles.

Charge backs

Practice of retailers, at their discretion, making deductions in the manufacturers’ bills for infractions ranging from late shipments to damaged and expired merchandise.

Balance-of-payments deficit

An imbalance of some specific component within the balance of payments, such as merchandise trade or current account, that implies that a country is importing more than it exports.

Two-way exclusive dealing

Supplier offers the retailer the Exclusive distribution of a merchandise line or product if, in return, the retailer will agree to do something for the supplier. This is usually not handling competing brands and is potentially illegal.

Upseling

A telemarketing technique designed to sell additional merchandise to callers.

Reverse logistics

Refers to all logistics that encompasses all merchandise flows from the retailer back through the supply channel.

Assortment merchandise

Apparel, furniture, autos, and other products for which the retailer must carry a variety of products in order to give customers a proper selection.

Specialogs or Specialogues

A type of merchandise catalogue that enables a retailer to cater to the specific needs of customer segments, emphasizes a limited number, and reduces catalog production and postage costs.