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Article Check - Seasonal Fashion Merchandising
I just finished reading a powerful book The Profitable Power of Purpose in which the author Ian Percy (www.IanPercy.com) states “If your customers were not irritated, they would not even be your customers.” How true it is! In 1978, I ran an ad in a New York City newsp
Customer base
While undertaking seasonal merchandising, you should have a fair idea of what customers each type of seasonal product would attract. Sometimes, products that are in fashion may attract only a specific class of customers, while some other pr
It can be generally said that all people buy to satisfy some goal or need. Human needs are many and varied, ranging from the basic physical needs of shelter, food and safety essential for survival, through the need to satisfy personal vanity, to intellectual and spiritual satisfaction.It is said that money can't bu
Seasonal merchandising refers to the process of merchandising that is the management of products and stocks according to the seasonal trends or fashions prevailing in the market. Seasonal merchandising is fast becoming the mantra in the Indian retail scenario.
Seasonal merchandising has its own benefits as well as limitations. The following points analyze the concept as a whole:
Accurate forecasting
In order to generate more sales through seasonal forecasting, it is necessary to be able to forecast the market trends accurately. You should have a fair idea of what is in demand in the international market and in other markets in your country. A trend might be very popular in one country, but it might not have the potential to dominate the national market. You should have the ability to determine which trend is just a passing fad and which one is likely to become popular and manage your stocks accordingly. A wrong forecast can lead your firm to great troubles.
Timeliness
Timeliness is the key to successful seasonal merchandising. While deciding to stock a particular product, you should ensure that you are not bringing in a trend earlier than its time. At the same time, you also need to ensure that you are not stocking an outdated item. You have an added advantage over other retailers if you are able to spot a trend and be the first to stock it in your store.
Customer base
While undertaking seasonal merchandising, you should have a fair idea of what customers each type of seasonal product would attract. Sometimes, products that are in fashion may attract only a specific class of customers, while some other pro
Although it is said that 95% of companies suffer from employee theft, it is probably closer to 100%. Serious theft, however, is a different thing entirely. There is a world of difference between the theft of a few pens and the steady depletion of stock through organized crime within a large organization. This sort of e
Accurate forecasting
In order to generate more sales through seasonal forecasting, it is necessary to be able to forecast the market trends accurately. You should have a fair idea of what is in demand in the international market and in other markets in your country. A trend might be very popular in one country, but it might not have the potential to dominate the national market. You should have the ability to determine which trend is just a passing fad and which one is likely to become popular and manage your stocks accordingly. A wrong forecast can lead your firm to great troubles.
Timeliness
Timeliness is the key to successful seasonal merchandising. While deciding to stock a particular product, you should ensure that you are not bringing in a trend earlier than its time. At the same time, you also need to ensure that you are not stocking an outdated item. You have an added advantage over other retailers if you are able to spot a trend and be the first to stock it in your store.
Customer base
While undertaking seasonal merchandising, you should have a fair idea of what customers each type of seasonal product would attract. Sometimes, products that are in fashion may attract only a specific class of customers, while some other pr
There are many tools advertised to assist managers make better decisions. One of the most efficient ways to make a positive impact on tired decisions is to develop more options. More options will definitely help you make better decisions since you have more choices available. The 3 tools listed below are some of the most
Timeliness
Timeliness is the key to successful seasonal merchandising. While deciding to stock a particular product, you should ensure that you are not bringing in a trend earlier than its time. At the same time, you also need to ensure that you are not stocking an outdated item. You have an added advantage over other retailers if you are able to spot a trend and be the first to stock it in your store.
Customer base
While undertaking seasonal merchandising, you should have a fair idea of what customers each type of seasonal product would attract. Sometimes, products that are in fashion may attract only a specific class of customers, while some other pr
Executive management teams need to be sure that the regulatory requirements for disclosure to protect consumers and investors are not over burdensome to the business model. There is a point at which it is no longer feasible to comply with all the rules and regulations and still run a profitable business.At that poi
Timeliness is the key to successful seasonal merchandising. While deciding to stock a particular product, you should ensure that you are not bringing in a trend earlier than its time. At the same time, you also need to ensure that you are not stocking an outdated item. You have an added advantage over other retailers if you are able to spot a trend and be the first to stock it in your store.
Customer base
While undertaking seasonal merchandising, you should have a fair idea of what customers each type of seasonal product would attract. Sometimes, products that are in fashion may attract only a specific class of customers, while some other pr
Medical conferences brings physicians and researchers together to present and discuss their work. These conferences provide an important channel to exchange of information between health care professionals.Professsinal medical conferences can expose those in the field to new ideas and skills. They are considered es
Customer base
While undertaking seasonal merchandising, you should have a fair idea of what customers each type of seasonal product would attract. Sometimes, products that are in fashion may attract only a specific class of customers, while some other products might attract a large number of customers. This gives an idea of how much of the product should be stocked and situations like overstocking and understocking can be avoided.
Managing risks
You should have well-planned strategies for risk management in order to make seasonal merchandising successful. In case overstocking happens, you should take into account ways for stock clearance, discounts and exploring other potential markets. Some retailers have well-defined sections such as core products and seasonal products. Core products are the basic or classic products offered by the retailer, while seasonal products are those that are currently in fashion.
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