Decide what goods a retail store will sell, and how they will be marketed.
What does a Merchandise Manager do?
Merchandise Managers oversee the selection, acquisition, promotion, and sale of commodities in a retail setting. If you work in a large retail as a Merchandise Manager store you will be managing a number of employees who assist you in these duties, like a team of Buyers (the people who actually source and purchase the products). Depending on the size of the business, the Merchandise Manager may be responsible for a select department or the entire store.
An important part of your job as a Merchandise Manager is studying market trends and customer demographics to determine how to best stock, display, and sell products. Your research methods consist of attending trade-shows and seminars, reading publications that keep you abreast of industry trends, and identifying competitor strategies.
You’re also in charge of maintaining good relationships with the Designers and vendors who supply your goods. This makes it more likely your store will obtain exclusive merchandise and receive timely deliveries.
Above all, as Merchandise Manager, you must have financial goals in mind and keep your pricing, promotion, and buying endeavors within the company’s allowance. This requires keeping a close eye on in-house inventory and sales, so that you know what to reorder and where to cut back.
So the next time you run to your local department store because Cosmo says animal prints are the season’s must-have, and you are confronted by shelves of artfully displayed leopard print stilettos and racks of zebra striped scarves – you know who to thank!