Page 11 - DMGT554_RETAIL_BUYING

Retail Buying

Notes

Notes In most of the larger organizations, the staff in the merchandising division is
supervised by the general merchandise manager, but these individuals provide service
for everyone in the division.

Location of Retail Outlets

In single-unit organizations, the buyer is often a jack-of-all-trades, playing a number of roles. In
department-store organizations where there are numerous branches and in chains where the
units may number more than one thousand, the buyer’s role is generally restricted to purchasing.
The stores are geographically distant from each other, making regular visits difficult. Therefore,
in-store management is left to others. Decision making is based on computerized reports, and
telephone, faxing, and e-mail communications.
In some organizations, the buyer might oversee advertising for his or her department and make
general recommendations concerning promotions, but the main responsibility is for purchasing.
It should be understood that in the earlier years of retailing, when buyers were responsible for
fewer stores, their roles were broader.

1.1.2 Duties and Responsibilities of Buyers

Whether the buyer is someone who works for a small independent operation, a department
store with branches, a chain organization with numerous units, a catalog operation, an Internet-
based company, or a home shopping outlet, several duties and responsibilities need to be
performed. Of course, the nature and size of each organization dictates exactly what will be
required as part of the buyer’s routine. Collectively, the following provides an overview of the
major activities that the buyer performs.



Caselet Rice Gathers Steam on Retailers’ Buying

rices of aromatic varieties increased further by ` 300-400 a quintal on good demand,
while a few non-basmati varieties too went up on domestic buying on
PMonday. Frantic buying by retailers mainly pushed prices up. In the physical
market, Pusa-1121 (steam) increased by ` 350 and quoted at ` 6,900-7,000 a quintal, while
Pusa-1121 (sela) sold at ` 6,000 (up ` 400). Pure Basmati (raw) went up by ` 300 and quoted
at ` 6,980, while pure basmati (sela) ruled around at ` 5,850 (up ` 400). Tibar sold at ` 3,650,
Dubar was at ` 2,800-3,050 and Mongra at ` 2,100-2,350 a quintal. Sharbati (steam) improved
by ` 100 and quoted at ` 3,900-4,000 a quintal while Sharbati (sela) sold at ` 3,800-3,850 a
quintal, up ` 225. PR-11 (sela) went up by ` 50 at ` 2,900 a quintal, while PR-11 (Raw) was
at ` 2,700. Permal (raw) increased by ` 50 and sold at ` 2,000-2,300 while Permal (sela) went
for ` 1,900-2,270, up ` 70.
Source: http://www.thehindubusinessline.com/markets/commodities/article3704303.ece

Merchandise Selection

Of primary importance to any retail operation, no matter how large or small, is the selection of
the merchandise to be resold to consumers. The merchandise must be suited to the needs of

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