Explain the elements of a merchandising plan.
Explanation should include
- past and anticipated sales
- beginning-of-month inventory
- reductions
- purchases.
Process/Skill Questions:
- Why do buyers plan six months at a time rather than yearly?
- What adjustments can be made in the buying plan as the season progresses?
- How do sales, inventory, reductions, and purchasing affect future merchandising planning?
- How do holiday/seasonal offerings affect the merchandising plan?
- How can retailers use technologies to help develop and update their merchandising plans?