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Buying for Different Types of Stores

Richard Clodfelter

Source: Retail Buying. From Basics to Fashion, 6th Edition, 2018, Fairchild Books Library

Book chapter + STUDIO

buying,different types of products,buying,at different retail formats,Almost all the duties that are described in the last chapter are performed by a buyer at any type of retail store—no matter what products are sold. As you start to plan your career in retail buying, one of your first decisions should be to determine the types of merchandise that would interest you the most. Are you more interested insoft lines,soft lines orhard lines,hard lines? Soft lines are typically the apparel and accessor

Point-of-Purchase Display

Martin M. Pegler and Anne Kong

Source: Visual Merchandising and Display, 7th Edition, 2018, Fairchild Books Library

Book chapter + STUDIO

plywoodimpulse shopping andbalancedefinedplywoodas displayersplywoodas displaysplywoodas fixturesPoint of purchase (POP) has been around since long before the cigar store Indian sculpted out of wood, clutching a handful of tobacco leaves, and garishly painted in green, red, and gold. It stood outside cigar stores and tobacco shops announcing to one and all on the street that tobacco products were sold just inside. Point-of-purchase signage probably goes back even further than the Middle Ages, whe

The United States

Brenda Sternquist and Elizabeth B. Goldsmith

Source: International Retailing, 3rd Edition, 2018, Fairchild Books Library

Book chapter + STUDIO

After studying this chapter, you should be able to:

Canada, Mexico, Central America, and the Caribbean

Brenda Sternquist and Elizabeth B. Goldsmith

Source: International Retailing, 3rd Edition, 2018, Fairchild Books Library

Book chapter + STUDIO

After studying this chapter, you should be able to:

South America

Brenda Sternquist and Elizabeth B. Goldsmith

Source: International Retailing, 3rd Edition, 2018, Fairchild Books Library

Book chapter + STUDIO

After studying this chapter, you should be able to:

Europe and Russia

Brenda Sternquist and Elizabeth B. Goldsmith

Source: International Retailing, 3rd Edition, 2018, Fairchild Books Library

Book chapter + STUDIO

After studying this chapter, you should be able to:

Capital of Luxury and Fashion

Valerie Steele

Source: Paris Fashion. A Cultural History, 3rd Edition, 2017, Berg Fashion Library

Book chapter

Je suis un grand artist, j’ai la couleur de Delacroix, et je compose. Une toilette vaut un tableau.

Visual Merchandising: From Store to Screen

Jon Cope and Dennis Maloney

Source: Fashion Promotion in Practice, 2016, Fairchild Books Library

Book chapter

This chapter examines how visual merchandising has evolved from a way of making clothes look good off the body, to a curatorial practice where garments are characters in multisensory tales of sex, wealth, and power. It outlines seminal moments, explores the use of window display and virtual space, and questions practitioners on the best ways to show and tell the stories of fashion not only visually but also viscerally.

Michael Kors

Paula Alaszkiewicz

Source: Fashion Photography Archive, 2015, Fashion Photography Archive

Designer Biography

Paris

Alexis Romano

Source: Fashion Photography Archive, 2015, Fashion Photography Archive

Article

Paris was a fashion city from the mid-nineteenth century, when the French fashion system began to function outside of medieval guilds, corporations, and the royal courts. The article first discusses the establishment of haute couture, and explores trade syndicates, the Sentier garment district, department stores, and expositions. A second section focuses on the twentieth century and the couturiers and designers who worked in Paris, and also questions the construction of Paris in the fashion media

Step 1: Redefine Your Customer

Karen M. Videtic and Cynthia W. Steele

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

Book chapter + STUDIO

Many market research organizations offer various types of psychographic information. Most of these organizations segment on the basis of consumer behaviors, attitudes, interests, or opinions. None of these measures explains why individual consumers exhibit different behaviors or why individual consumers exhibit the same behaviors for different reasons. VALS/ (Values, Attitudes, and Lifestyle Survey) provides explanations. Developed by SRI International (Menlo Park, California) and now owned and o

Step 2: Research Current Market and Fashion Trends

Karen M. Videtic and Cynthia W. Steele

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

Book chapter + STUDIO

A good buyer is always searching for new trends that will produce a strong sell-through with excellent margins for his or her department. Preplanning often begins at the fashion office within the department store. This division of the department store acts as the visionary for the entire store, providing a centralized visual and merchandise direction for all departments within the organization. The fashion director is the individual who leads the fashion office and is responsible for narrowing do

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 5: How to Shop the Market

Karen M. Videtic and Cynthia W. Steele

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

Book chapter + STUDIO

Using the We Connect Fashion website, find a series of pages that lead you to theMen’s Apparel Guild in California (MAGIC)Trade Show in Las Vegas or the ENK website that organizes numerous trade shows throughout the world. These websites (www.magiconline.com or www.enkshows.com) will take you to numerous tradeshow websites.

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

Space Planning Principles

Sarah Bailey and Jonathan Baker

Source: Visual Merchandising for Fashion, 2014, Fairchild Books Library

Book chapter

The most important factor for any retailer is to define its product and inform its customers of the product ranges and available choices. While visual merchandising is used to attract customers, it is also necessary to define a brand’s image and encourage brand loyalty by creating a pleasurable and memorable shopping experience. Key indicators include:

Case Study Dolan’s Department Store

John Donnellan

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

Book chapter

The first Dolan’s Department Store opened in Providence, Rhode Island, in 1885 as Dolan’s Dry Goods. By the early years of the Great Depression, the founder, John M. Dolan, had opened downtown stores in Hartford, Connecticut; Poughkeepsie, New York; and Portland, Maine. Upon Mr. Dolan’s death in 1940, the stores were sold to four members of Dolan’s management. To provide capital for an expansion program into strip shopping centers in the 1950s, Dolan’s issued several thousand shares of stock to t

Shopping for Fashion in the Pre-War Years

Geraldine Howell

Source: Wartime Fashion. From Haute Couture to Homemade, 1939–1945, 2012, Berg Fashion Library

Book chapter

Bonwit Teller

Ira Neimark

Source: The Rise of Fashion and Lessons Learned at Bergdorf Goodman, 2011, Fairchild Books Library

Book chapter

One month before I interviewed for my first job at Bonwit Teller, I camped out at the Hamilton employment agency waiting for an employment opportunity. It was October 1938. The world was still in the grip of the Great Depression, and I had just left high school.

Changing of the Guard at Bergdorf Goodman

Ira Neimark

Source: The Rise of Fashion and Lessons Learned at Bergdorf Goodman, 2011, Fairchild Books Library

Book chapter

A photograph was taken of the top executives at Bergdorf Goodman. We sat together in Andrew Goodman’s office. It was January 29, 1975, and the occasion was the announcement of my appointment as president and chief executive officer.

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