- Merchandise managers oversee the acquisition of products.stock de marchandises image by Melisback from Fotolia.com
Merchandise managers are hired by commercial outlets to oversee the acquisition, promotion and sale of products. Merchandise managers supervise a specific department or product, or are responsible for the stock of an entire store. Depending on the size of the business, you may have a number of support staff to assist in your duties. - The main duty of a merchandise manager is to ensure that retail outlets have an adequate supply of products that meet market demand. All of your duties are carried out in support of this goal; the merchandising manager must stay in constant communication with individual branches or departments to have a real-time understanding of the stock and market.
- To accurately direct the acquisition of products, the merchandise manager gathers a thorough understanding of the typical customer. You analyze the target customer and create a profile of needs, interests, preferences and demographic information. The merchandising manager is often key in assisting the marketing department with the identification of new audience sectors.
- Because trends contribute a great deal to the sale of products, particularly in the areas of fashion and decor, the merchandising manager stays on top of current trends. You read publications relating to your area, attend conferences and trade shows and follow trade papers. In cases where you oversee multiple departments, your individual managers or buyers provide brief overviews of trend information in their areas.
- Because merchandising is part of the competitive retail market, the merchandise manager must be aware of the product lines, marketing strategies and successes of competitors. This knowledge enables you to identify holes in the market and opportunities to increase sales.
- For large retail stores, a merchandising manager oversees a team of buyers, who find, source and purchase the products that will be sold in the store. You hire buyers, train them in the corporate culture and develop their ability to locate merchandise that will fit with the store's image and audience.
- To ensure that your store gets timely shipments and access to in-demand designers and lines, you maintain close relationships with vendors and designers. Successful business and personal relationships lead to access to rare products or first pick of limited-edition lines.
- Based on the overall strategic plan for the business, the merchandise manager must ensure that pricing, promotions and buying activities are in line with financial goals. You ensure that the merchandise department's budget is consistent with company allowances and make adjustments where needed.
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