What is Fashion Retailing?
Fashion retailing is the business of selling clothing, footwear, and accessories to customers. It encompasses all aspects of the fashion industry, from design and production to marketing and sales. Retailing is the link between the manufacturer and the consumer. Retailers buy fashion products from vendors, their suppliers, all over the world and bring it to their stores for convenient selling to consumers. The retail business entails dividing a smaller part from a large good or a product and selling it to the consumers. Retail merchandising consists of all the operations associated with direct selling of products or even services to the consumers of a particular product.
In fashion retailing, professionals such as buyers, merchandisers, and store managers work together to select products, set prices, and create attractive displays that will appeal to customers. They also use data and analytics to track sales and make decisions about what products to stock and when to markdown or discontinue items.
Who is Fashion Retail Merchandiser?
A fashion retail merchandiser is a professional who is responsible for planning and managing the selection, promotion, and presentation of fashion products in a retail business. The fashion retail merchandiser sells the products in small quantities and coordinates as an intermediary between the wholesaler and consumers.
The goal of a fashion retail merchandiser is to maximize sales and profits for the store while also ensuring customer satisfaction.
Functions of a Fashion Retail Merchandiser:
- Providing personal services to all required consumers.
- Giving two-way information such as from producer to consumer and vice versa.
- Assisting in standardization and grading of products.
- Undertaking transportation and storage of products.
- Assembling various products from different suppliers and wholesalers.
- Keeping adequate stock of various products to supply to consumers.
- Providing credit facilities to the consumers.
- Drawing the consumer’s attention by bestowing a window display of products, conducting fashion events etc.
- Carrying out marketing activities.
- Assuming risk by stocking and providing goods to consumers.
Duties and Responsibilities of a Fashion Retail Merchandiser:
1. Analyzing the Local Customers:
Sales in a particular retail store could be influenced by various factors such as
- The geographical location of the store
- The population content of the area
- The social activities that the area offers
- The economical conditions and level of the local population
- The fashion influences of the particular population
2. Analyzing Sales Data:
The fashion retail merchandiser is responsible for monitoring sales figures and trends, identifying areas of growth and decline, and making adjustments to the product mix and merchandising strategy as needed. They use sales data to inform their buying decisions, pricing strategies, and marketing campaigns.
3. Selection of a Fashion Image:
Each retail store has to create a retail image in the mind set of customers irrespective of whether the retail store wants it. A retail merchandiser should create his or her own store’s image which could draw the attention of customers.
4. Buying the Fashion Products:
It is challenging work as it demands a huge amount of activities such as budget planning, merchandise selection, supplier selection etc. Further, it is also important to decide on the quality of the products to be ordered.
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5. Receiving and Stocking the Merchandise:
After the arrival of ordered goods at the retail stores, it should be inspected vigilantly for the quantities against the packing list or shipping invoice sent by the supplier. The quantity of the products/goods received at the retail store should be inspected prior to display or selling.
6. Inventory Management:
The fashion retail merchandiser is responsible for monitoring stock levels and forecasting future sales. They ensure that the store has enough merchandise on hand to meet customer demand, but not so much that it becomes overstocked. They also reorder products as needed to keep the store well-stocked.
7. Visual Merchandising:
A fashion retail merchandiser is responsible for creating and implementing the store’s visual merchandising strategy. This includes planning and setting up displays, window displays, and in-store signage to showcase the merchandise in the most appealing way possible. They also make sure that the visual elements of the store align with the store’s overall aesthetic and brand image.
8. Sales Promotion:
It is a vital process for successful marketing and sale of a product in the store. It refers to promotion of sale of merchandise, ideas or services. It contains activities such as advertising, publicity, fashion shows, personal selling, visual displays, special events etc.
9. Sales Evaluation:
After the completion of the selling season, the retail store has to analyze the sales of the goods in the particular season. This consists of analyzing the sales by style, product, size and color, fast sold goods, unsold items, price line, etc.
10. Collaboration with Other Departments:
The fashion retail merchandiser works closely with the marketing, sales, and store operations teams to ensure that the store’s overall strategy is aligned with the company’s goals. They collaborate on creating and executing marketing campaigns, creating promotional materials, and managing the store’s budget. The merchandiser must also coordinate with the store management team to ensure that the store’s inventory, sales and other operations are in line with the company’s overall strategy.
References:
- Apparel Manufacturing Technology By T. Karthik, P. Ganesan and D. Gopalakrishnan
- Fashion Marketing Management by A. Arunraj and V. Ramesh Babu
- Apparel Merchandising by R. Rathinamoorthy and R. Surjit
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- Role of Fashion Merchandising in Apparel Industry
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- What is Visual Merchandising | Importance of Visual Merchandising
