Page 109 - DMGT554_RETAIL_BUYING

Retail Buying Anand Thakur, Lovely Professional University

Notes Unit 8: Merchandise in Retailing

CONTENTS
Objectives
Introduction

8.1 Merchandise Planning – Central to Profitable Retailing
8.1.1 Range Planning
8.1.2 Effective Range Performance Measurement – Plan vs. Actual

8.2 Types of Merchandise Offering
8.3 Merchandising Procurement
8.4 Merchandise Sourcing
8.5 Timing for Purchase
8.6 Promotional Merchandising

8.7 Summary
8.8 Keywords
8.9 Review Questions

8.10 Further Readings
Objectives

After studying this unit, you will be able to:
 Describe the Merchandise Planning
 Discuss the different types of Merchandise offering

 Define Merchandise Procurement
 Analyse the Merchandise Sourcing
 Discuss about the Timing for Purchase of Merchandise

 Explain the Promotional Merchandise
Introduction

Most world-class retail businesses have some form of range planning/merchandise planning
process at the centre of all their commercial planning activities. Merchandise or range plans
articulate the financial targets in terms of how the range should be built up, what proportion of
the total business mix a range should take associated store and DC space allocations, etc.
In the broadest sense, merchandising is any practice which contributes to the sale of products to
a retail consumer. At a retail in-store level, merchandising refers to the variety of products
available for sale and the display of those products in such a way that it stimulates interest and
entices customers to make a purchase.
In this unit, we will focus on merchandising sourcing and timing for purchase.

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