Page 137 - DMGT554_RETAIL_BUYING

Retail Buying Anand Thakur, Lovely Professional University

Notes Unit 10: Purchasing in the Domestic and Foreign
Marketplace

CONTENTS

Objectives
Introduction
10.1 Purchasing in the Domestic Market

10.1.1 Five Essentials Should be Considered before Purchasing a Retail System
10.1.2 How to Prepare Your Purchasing Negotiation in 3 Basic Steps?
10.1.3 Early Decision Making
10.2 Purchasing in the Foreign Marketplace
10.2.1 US Fashion Markets

10.2.2 Major Foreign Markets
10.2.3 Trends in Purchasing
10.3 Merchandise Budget Plan

10.3.1 Monthly Sales Percent Distribution to Season (Line 1)
10.3.2 Monthly Sales (Line 2)
10.3.3 Monthly Reductions Percent Distribution to Season (Line 3)
10.3.4 Monthly Reductions (Line 4)
10.3.5 Analyzing Merchandise Performance

10.4 Summary
10.5 Keywords
10.6 Review Questions

10.7 Further Readings
Objectives

After studying this unit, you will be able to:
 Explain the Basics of Retail Purchasing
 Discuss the Purchasing in the Domestic Marketplace

 Describe the Purchasing in the Foreign Marketplace
 Explain the Merchandising the Budget Plan

Introduction

Purchasing refers to a business or organization attempting to acquiring goods or
services to accomplish the goals of its enterprise. Anyone in the retail industry will tell you that

132 LOVELY PROFESSIONAL UNIVERSITY