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Merchandise Management - Coggle Diagram
Merchandise Management
Components
Analysis
Planning
Acquisition
Handling
Control
Merch Mix
Variety
Assortment
Support
Depth of assortment
vs
No. of Categories
Wide and Shallow
Narrow and Shallow
Wide and Shallow with Added Depth
Square Wide & Deep
Deep Range in Specific Categories
Consumer Characteristics
for Target Market
Geographical: Region, metro, urban, rural.
Shopping
Behaviour
Demographic: Age, sex, income, life cycle phase.
Environmental: Social, cultural, subcultural.
Psychographic: Lifestyle, values, personality.
Competitive SWOT
Analysis
Merch Planning
forecasting techniques
Qualitative Techniques
Time series Analysis
Causal models
Inventory Plan
Inventory Management
• Hedge against uncertain supply & Demand
• Economize on ordering costs • Smoothing
types of inventory models
Multi-period model / Economic Order Quantity
Single period models
Assortment And Retail Planning
Assortment Planning Process
Research and Build a Plan
Store Clustering
Decide Breadth and Depth of Assortments
Create a Visual Merchandising Plan
Double-Check and Execute the Plan
Benefits
Retain Loyal Customers
Control Inventory Spending
Stand Out from Competitors
Improving Retail Assortment Planning
Understand Target Customers
Work on Cross-Merchandising
Focus on Localization
Use Assortment Planning Tools
Identify Market Trends
Start Your Next Assortment Plan