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A Concise Guide to Retail Planning and Forecasting
Published: OCT 30, 2009
The area of retail buying relies heavily on mathematical formulas and forecasting. The formulas themselves remain unchanged. However, the context in which they are analyzed is constantly evolving. The most successful retail buyers are able to withstand the highs and lows of business trends by utilizing analytical skills, trend forecasting, and customer knowledge. As a retail buyer for almost 20 years with various retailers, Connell draws on her experience providing practical fundamental mathematical formulas while also giving context in the current retail environment. This text gives students a step-by-step approach to understanding the mechanics of a six-month merchandising plan. Upon completion of the plan students will gain insight into how the plan is forecast into the future as well as how it is implemented at the actual purchasing level.