Merchandise Buying and Management (4th Edition)

Specifications

Book Description

“Merchandise Buying and Management,” authored by John Donnellan, presents a comprehensive overview of the principles and practices involved in merchandise buying and management within the retail industry. In this 4th edition, readers can expect updated content reflecting the latest trends, strategies, and challenges faced by retailers in today's dynamic marketplace. Key features of this edition include:

1. Fundamentals of Retail Buying: The book covers the fundamental concepts of retail buying, including the role of the buyer, buying strategies, assortment planning, and vendor relations. Readers will gain a solid understanding of the buying process from product selection to assortment optimization.
2. Market Analysis and Consumer Behavior: Donnellan explores market analysis techniques and consumer behavior trends essential for effective merchandise buying. Understanding market trends and consumer preferences is crucial for retailers to make informed buying decisions and meet customer demands.
3. Inventory Management and Control: Inventory management is a critical aspect of merchandise buying, and this edition provides updated insights into inventory control techniques, demand forecasting, stock replenishment strategies, and inventory turnover optimization.
4. Vendor Relations and Negotiation: Effective vendor management and negotiation skills are vital for successful merchandise buying. This edition offers practical guidance on building strong vendor relationships, negotiating favorable terms, and managing vendor performance to ensure product quality and availability.
5. Retail Pricing and Profitability: Donnellan discusses retail pricing strategies, markup calculations, pricing models, and promotional pricing techniques aimed at maximizing profitability while remaining competitive in the market.
6. Omni-Channel Retailing: With the growing importance of omni-channel retailing, this edition addresses the integration of online and offline channels in merchandise buying and management. Readers will learn how retailers leverage digital platforms for product assortment, inventory management, and customer engagement.
7. Sustainability and Ethical Sourcing: The book explores sustainability initiatives and ethical sourcing practices increasingly adopted by retailers. Topics include eco-friendly product sourcing, fair trade practices, supply chain transparency, and corporate social responsibility (CSR) efforts.
8. Case Studies and Industry Insights: Throughout the book, Donnellan incorporates real-world case studies and industry insights to illustrate key concepts and provide practical examples of effective merchandise buying strategies employed by leading retailers.

Overall, “Merchandise Buying and Management” equips readers with the knowledge and skills needed to excel in the field of retail buying. Whether you are a student aspiring to enter the retail industry or a professional seeking to enhance your buying expertise, this edition offers valuable insights into the dynamic world of merchandise management.