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MERCHANDISE BUYING

Buying Project

Merchandise Buying taught me how to create a Monthly Merchandise Plan consisting of Sales, Reductions/Markdowns, BOM Stock, Planned Purchases at Retail, Planned Purchases at Retail, and EOM Stock. Surrounding the overall planning process, I developed understanding of pricing architecture, price lines, and price zones for individual brands, as well as the relationship between the individual profit factors of Cost of Goods Sold, Net Sales, Gross Margin, Operating Expenses, and New Profit or Loss. With understanding the role of the buyer, we also learned the relationship between cost, markup, and retail, cumulative markup, initial markup, and the considerations that come with planning markdowns and reductions. The Buying Project gave me experience developing a merchandise plan for a specific brand. I chose to develop an assortment of matching sets for Free People based on the target customer's desires and the physical store locations. I developed a plan for merchandise allocation for the omnichannel platforms of in-store and online, as well as promotion and markdown plans based on product type of good, better, or best.

Merchandise Buying Assortment Plan Free People Sets-2.jpg

© 2022 by Olivia Cooke.

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