Fashion Merchandising
Fashion Merchandising is a powerful industry that requires skilled managers to showcase the latest products and styles to the public who love to buy fashion. Retailers need to accurately understand, predict and respond to consumer needs, and make purchasing and budget decisions to maximize revenue. When it comes to merchandising process, there are three terminologies – Merchandise, Merchandising, Merchandiser. This three basic terminologies are important to understand the merchandising process. Let’s see what is the difference between Merchandise, Merchandising and Merchandiser.
• Merchandise – The products or goods.
• Merchandising – The arrangement or promotion of the products or goods in an appealing manner to influence the consumer’s buying decision.
• Merchandiser – The person who deals with buying and selling the product or goods.
What is Fashion Merchandising?
Fashion merchandising is all about marketing and business management. In this process, you have to analyze, predict and respond to the customers’ needs and wants to maximize your sales and profit.
Who is a Fashion Merchandiser?
Fashion merchandiser is a person who deals with buying or selling of fashion merchandise. He is responsible to maximize the profit and sales. He has to study the market, the ongoing fashion trends and then plan for the amount of stock to be produced. When the final product is stocked, then comes the main task which is marketing and promotion. Promotional activities and events play a very important role in any kind of business. Fashion merchandiser can work within retail as shopping items that select product lines and make promotions to increase both product and market share.
What does a Fashion Merchandiser do?
The fashion merchandiser does the following things to bring up a product into the market,
1. Market analysis – The fashion merchandiser analyses the market. He studies the past, current and forecasted trends. He maintains the relations with the buyers as well as the designers so that he is up to date with fashion trends and fashion market. He also needs feedback of the customers so as to understand the needs and wants and plan accordingly.
2. Strategic planning – The fashion merchandiser analyses, selects, and plans for the production of the merchandise. He analyses the past consumer reviews and plans for the amount of stock to be produced. He is also checks out the latest fashion trends along with the past sales data. He manages costing of raw material purchasing, production, sales and promotion within the company’s budget.
3. Marketing and Promotion – The fashion merchandiser has to look after the following points for marketing and promotion of merchandise:
• Set the right price for the merchandise.
• Look for the right place for selling the merchandise.
• Look for the right customers.
• Look for a clean physical environment so that the customer feels comfort while buying.
• Distribute the merchandise to retailers, shopkeepers or manufacturers. Some of the manufacturers themselves sell the merchandise.
• The fashion merchandiser has to work with visual merchandiser to conceptualize the ideas for arranging the merchandise and promoting it.
• Promote the product to as many people through online as well as offline ways.
• Organize promotional activities and events according to the festivals and seasons.
Jobs/Career options for a Fashion Merchandiser :
• Brand Manager – This job is related to marketing. It is all about applying your marketing strategies and increasing the sales and revenue of the company. And mainly, promoting your brand to your targeted audience.
• Fashion Buyer – This job is related to retail industry. A Fashion Buyer has to look after the amount of merchandise to be stocked and he works closely with the designers and sales representatives for carrying out the further trade affairs. He attends fashion shows, visit wholesale showrooms, market places, etc. to predict the sales of the merchandise.
• Event Planner – An event planner has to organize and manage events related to promotions and activities related to the brand development or releasing a new brand out in the market. He makes sure that every customer has a good time. He looks after every thing the location, people, entertainment, etc. for customers to enjoy the event.
• Fashion Director – He is also known as Fashion Co-Ordinator. This job is related to creative sense of style. He stays up-to-date with latest trends in fashion, he also supervises fashion photoshoots. He can produce and promote new fashion for exclusive brands, magazines, stores, etc.
• Fashion Stylist – This job is related to consulting people about styling. A Fashion Stylist advice or selects outfits for editorial shoots, commercial shoots, music videos, television advertising, daily soaps, concerts, models, celebrities, other public figures, etc.
• Magazine Editor – This job is about supervising a process. A Magazine Editor supervises the process of fashion department related to developing and presenting a work in magazines websites or any television program.
• Retail Store Director – This job is to handle people and motivate them for providing best quality to the customers. For this job you need to have leadership qualities and you should be able to work with variety of people.
• District Merchandising Manager – This job is related to managing and supervising the retail stores within the specified geographic area. A District Merchandising Manager can assist the store managers for hiring or firing any employee and also may concern to human resource department.
• General Merchandising Manager – This job is related to developing and implementing your ideas for displaying a merchandise. A General Merchandising Manager is involved in creating the visuals of a store,
• Marketing Specialist – Promoting the merchandise to retailers, shopkeepers or to your targeted audience. You should plan your strategies accordingly and increase the sales and revenue of your company.
• Merchandise Consultant – Assisting companies or merchandisers to achieve their goals by guiding them through different marketing strategies, plans, upcoming trends forecasts, market sales overview and also the financial plans.
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