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Building a Visual Merchandising Department

Judy Bell and Kate Ternus

Source: Silent Selling. Best Practices and Effective Strategies in Visual Merchandising, 5th Edition, 2017, Fairchild Books Library

Book chapter + STUDIO

Attention to detail makes the difference between a good visual merchandiser and a great one. The way you handle detail on your job determines your working brand identity. Whether you’re presenting mannequins in windows or presenting yourself in the way you dress and act, you are expressing your personal identity. When a visual merchandising executive can look at a display you’ve done and instantly know that you did the work, you’ll know that you’ve established a trademark—a reputation—for a certa

Pricing and Costing

Sandra Keiser, Deborah Vandermar and Myrna B. Garner

Source: Beyond Design. The Synergy of Apparel Product Development, 4th Edition, 2017, Fairchild Books Library

Book chapter + STUDIO

“Expect more, pay less”

Promotion Organization

Kristen K. Swanson and Judith C. Everett

Source: Promotion In The Merchandising Environment, 3rd Edition, 2016, Fairchild Books Library

Book chapter

— Gap’s chief Marketing officer, Seth Farbman (Zmuda, 2014, ¶3)

Promotion Planning And Budgeting

Kristen K. Swanson and Judith C. Everett

Source: Promotion In The Merchandising Environment, 3rd Edition, 2016, Fairchild Books Library

Book chapter

“In the 50 years that we’ve been in business, we’ve had a lot of different kinds of partnerships. What we have learned is that we have to find people who see the world the same way that we do.”

Personal Selling

Kristen K. Swanson and Judith C. Everett

Source: Promotion In The Merchandising Environment, 3rd Edition, 2016, Fairchild Books Library

Book chapter

“When I walked into [the] Han Kjobenhavn [store] last week, from the back of the narrow store, Kasper—thin, good tattoos, perfectly shaped beard, phenomenal accent—shouted, ‘What’s up, man?’ in a disarmingly sincere manner…. He welcomed people like family, let them inhale the store a bit, then slid over when they lingered on an item, offering back story or a barely there nudge to try it on.”

Servicing the Fashion Shopper

Jay Diamond, Ellen Diamond and Sheri Litt

Source: Fashion Retailing. A multi-channel approach, 3rd Edition, 2015, Fairchild Books Library

Book chapter

In this age of multi-channel retailing, personal selling goes far beyond the confines of the brick-and-mortar operations. Many websites have links that directly connect the shopper with a responsive salesperson. Catalog users calling in their selections are greeted by company representatives who are not only there to take orders but also to answer questions and perhaps use “suggestion selling” for additional merchandise to expand the purchase.

Merchandise Distribution and Loss Prevention

Jay Diamond, Ellen Diamond and Sheri Litt

Source: Fashion Retailing. A multi-channel approach, 3rd Edition, 2015, Fairchild Books Library

Book chapter

Brick-and-mortar operations, regardless of size; catalogers; e-tailers, and home shopping outlets must all establish a merchandise distribution system that assures they will receive merchandise as stated on the invoice and that it will be delivered to their warehouses and selling floors in a timely manner.

Planning and Executing the Purchase

Jay Diamond, Ellen Diamond and Sheri Litt

Source: Fashion Retailing. A multi-channel approach, 3rd Edition, 2015, Fairchild Books Library

Book chapter

The realm of tasks required of fashion buyers primarily depends first upon the size of the company and then upon the retail classification in which it falls. In small stores, for example, the buyers do everything from purchasing the merchandise, to selling to customers. Often the owner fulfills the buying responsibility as well as a host of other management duties. In the larger companies, buyers are mainly responsible for purchasing; they also interact with other management personnel such as adv

Purchasing in the Global Marketplace

Jay Diamond, Ellen Diamond and Sheri Litt

Source: Fashion Retailing. A multi-channel approach, 3rd Edition, 2015, Fairchild Books Library

Book chapter

Some American buyers purchase the majority of their model stocks in one of the major U.S. wholesale markets. They flock to these sales facilities during the Market Weeks as well as other times depending upon the size of their companies and their proximity to the markets. Buyers from other countries also purchase their inventories domestically, as well as using offshore manufacturers.

Inventory Pricing

Jay Diamond, Ellen Diamond and Sheri Litt

Source: Fashion Retailing. A multi-channel approach, 3rd Edition, 2015, Fairchild Books Library

Book chapter

Before they decide on the appropriate price of each piece of merchandise, fashion merchants focus their attention on such areas as the amount of competition they face, the life expectancy of the item, riskiness in terms of customer acceptance of a trendy style, overheads, the type of promotional endeavors they need to conduct to bring attention to the product, the image of the company they wish to project, the type of customer patronage they seek, special requirements needed in the sale of the me

Commercial Sociocultural Systems And Dress

Joanne B. Eicher and Sandra Lee Evenson

Source: The Visible Self. Global Perspectives on Dress, Culture, and Society, 4th Edition, 2015, Fairchild Books Library

Book chapter

At the conclusion of this chapter, you will be able to:

Resource Management: Sales, Finance and Accounting, and Human Resources

Michele M. Granger

Source: The Fashion Industry and Its Careers: An Introduction, 3rd Edition, 2015, Fairchild Books Library

Book chapter

You likely know people who are natural-born salespersons. You may even be one of these people with the enthusiasm, drive, and persuasive skills to consistently sell products, services, or ideas. These people enjoy the thrill of the chase and the excitement of the closing. The best salespersons are skilled at, almost instantly, building a rapport with customers. Through observation and active listening, sales gurus can determine the customers’ needs and desires and then, by emphasizing the benefit

Step 3: Develop Buying Plan

Karen M. Videtic and Cynthia W. Steele

Source: Perry’s Department Store. A Buying Simulation, 4th Edition, 2015, Fairchild Books Library

Book chapter + STUDIO

Last Year Sales × (1 + Planned %) = Planned Sales

Step 4: Develop Assortment Plan

Karen M. Videtic and Cynthia W. Steele

Source: Perry’s Department Store. A Buying Simulation, 4th Edition, 2015, Fairchild Books Library

Book chapter + STUDIO

Department store buyers have the monumental task of budgeting large sums of money and determining how that money is to be spent. As do most wise financiers, these buyers begin with a plan. This plan converts large sums of money into classifications of merchandise to be carried in their departments. This breakdown of merchandise by classification (e.g., pants, shirts, sweaters, for apparel) is called an assortment plan.

Step 6: Plan Market Purchases

Karen M. Videtic and Cynthia W. Steele

Source: Perry’s Department Store. A Buying Simulation, 4th Edition, 2015, Fairchild Books Library

Book chapter + STUDIO

Before scheduling a market trip for the opening of a season, detailed plans must be finalized and approved by the divisional merchandise manager (DMM) and general merchandise manager (GMM). A six-month dollar plan should be completed and a stock assortment strategy developed. The stock assortment plan determines relevant classifications, subclassifications, price points, units, colors, sizes, and fabrication. Trade magazines for your industry, such as Earnshaw’s, Women’s Wear Daily (WWD), and Hom

Step 7: Negotiate Profitability

Karen M. Videtic and Cynthia W. Steele

Source: Perry’s Department Store. A Buying Simulation, 4th Edition, 2015, Fairchild Books Library

Book chapter + STUDIO

The most important part of the negotiation process is preparation. The first step in negotiating is to gather all relevant information and analyze the situation. For a retail buyer, this means you must learn as much as possible about the vendor’s perspective (imagine yourself as the vendor’s sales representative in order to gain that person’s insight) and identify the related business issues, as well as your own departmental issues. Some of the information you might collect would include an asses

Step 8: Examine the Income Statement

Karen M. Videtic and Cynthia W. Steele

Source: Perry’s Department Store. A Buying Simulation, 4th Edition, 2015, Fairchild Books Library

Book chapter + STUDIO

As you progress into management, your focus will broaden to incorporate your store’s income statement. This document provides you with a view of the company’s financial health. It has become a pivotal decision-making tool and the mirror of the ultimate success or failure of you and your store. Buyers use the data to compare their departments’ performance with other similar operations.

The Buyer’s Role in Product Development

Karen M. Videtic and Cynthia W. Steele

Source: Perry’s Department Store. A Buying Simulation, 4th Edition, 2015, Fairchild Books Library

Book chapter + STUDIO

With the vertical integration and horizontal growth of retailers, globalization, economies of scale in both retailing and apparel manufacturing, and market specialization, the role of the retail buyer has changed dramatically in the last 25 years. These market changes have precipitated major changes in the responsibilities of today’s buyer.

Career Opportunities in Retail Buying

Karen M. Videtic and Cynthia W. Steele

Source: Perry’s Department Store. A Buying Simulation, 4th Edition, 2015, Fairchild Books Library

Book chapter + STUDIO

Although the role of the retail buyer generally remains consistent from small to large stores, the number of positions that assist buying activities varies. The larger the store operation, the more levels of opportunity are available. In larger corporations, buyers may be accountable for as much as $50 million or more in sales volume. Retail buying jobs have broadened to include more positions in merchandise analysis and planning to assist the buyer in controlling high volume. In many stores, the

Merchandising Accounting

John Donnellan

Source: Merchandise Buying and Management, 4th Edition, 2014, Fairchild Books Library

Book chapter

Cash flow is the balance of cash coming into and going out of an organization. A positive cash flow means that more cash is coming into the organization than going out. A negative cash flow means that more cash is going out of the organization than coming in. A positive cash flow is preferable to a negative cash flow; however, even the most successful retailers experience negative cash flow periodically.

Inventory Valuation

John Donnellan

Source: Merchandise Buying and Management, 4th Edition, 2014, Fairchild Books Library

Book chapter

Retailers periodically determine the value of their inventories to prepare financial statements. Preparing an income statement requires computing the cost of goods sold. Cost of goods sold is equal to the value of the inventory on hand at the beginning of the fiscal period, plus the value of the inventory purchased during the period, minus the value of the inventory on hand at the end of the period:

Planning Sales And Inventory

John Donnellan

Source: Merchandise Buying and Management, 4th Edition, 2014, Fairchild Books Library

Book chapter

Plans are categorized by the time period that they cover. A long-range plan covers a three-to five-year period or longer. Developed by top management, long-range plans have significant impact on an organization and include strategies for expansion, market position, and major capital expenditures. A short-term plan covers periods shorter than a year. Developed by lower-level managers, short-term plans are narrower in scope than long-range plans. Schedules and budgets are two common forms of short-

Merchandising Controls And Report Analysis

John Donnellan

Source: Merchandise Buying and Management, 4th Edition, 2014, Fairchild Books Library

Book chapter

Control involves measuring actual performance against a goal or standard, and reacting to the causes of any deviations from the goal or standard. Control is a three-step process:

Surviving the Depression: 1930s

Joy Spanabel Emery

Source: A History of the Paper Pattern Industry. The Home Dressmaking Fashion Revolution, 2014, Berg Fashion Library

Book chapter

Pattern producers repudiate rumors that they enjoyed a boom during the Depression. Like most other businesses, theirs suffers when people are hard up; it recovers when people start spending again. Patterns hit bottom in 1932. Improvement began in the Fall of 1933, but not soon enough to make an increase for the year. Estimates place 1934 ahead of 1933 by about 10%.

Import and Customs Issues in Fashion

Frances P. Hadfield and Amanda M. Simpson

Source: Fashion Law. A Guide for Designers, Fashion Executives, and Attorneys, 2nd Edition, 2014, Fairchild Books Library

Book chapter

The majority of apparel goods sold in the United States today are manufactured abroad. By law, even before the apparel arrives at the U.S. border, the importer must provide formalized information to the U.S. government about the fashion articles it intends to import. The process of providing this information to the U.S. government is called entry.19 U.S.C. § 1484 (2013).

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