1. Sources of information for merchandise planning
FM 2.02 Understand the preparation of fashion merchandise buying plans

2. Company Merchandising Bureaus
*Internal
*Forecasting fashion trends to assist the buyer
*Standards and testing labs to check if merchandise meets standards
*Example - Bureau working with a group of retailers to
determine a quality check of certain merchandise
Company Merchandising Bureaus

3. Comparison Shoppers *External
*Mystery shoppers hired to gather intelligence on competitors and own store
*Depth of assortments, prices, ambiance, services, media selection, and quality of salespeople
*Example: Mystery shopper goes into Belk and visits 3 departments tracking the level of service provided
Comparison Shoppers

4. Consumer Opinions & behavior
*External
*To stay in touch with the target market
*Surveys, panels, customer counts, and sample products
*Example – Focus group to gain info about a new line of cosmetics
Consumer Opinions & behavior

5. Reporting Consulting services
* External
*Expert guidance for forecast planning
* Assist buyer in merchandise selection
*Example – The Doneger Group provide a
report on upcoming trends to the merchandise
department
Reporting Consulting services

6. Resident Buying Offices
*External
*Expert buying services
*Developing merchandise plans
*Example – The Doneger Group prepares the
merchandise plan for their client/retailer
Resident Buying Offices

7. Sales records *Internal *To show increases/decreases in sales
*Items in growth or decline phase, media, PR, or weather impact on sales
*Example – Increased sales due to a current sales promotion. Sweaters being marked down for clearance
Sales records

8. Sales people * Internal
*Provide personalized information for customers
*Sales Process steps provide opportunity to increase sales while providing great customer satisfaction
*Example – Sales person assisting a bride and bridesmaids in wedding gown and bridesmaids dresses
Sales people

9. Trade information *External
*Information from trade associations, shows, or publications
*Networking, competitive analysis, and market research
*Example – Attending a trade show and observing the vendors to complete a competitive analysis
Trade information

10. Vendors *External *Suppliers of merchandise
*Provide product info, market knowledge, and info on other retailers
* Example – Questioning a vendor about the different retailers that sell a particular product
Vendors

11. *Internal
*Logs completed for customer inquiries about out of stock items or products not carried
* Identify potential new products, preferred product assortments, and current stock deficiencies
*Example – Salesperson makes a log entry about a new brand of jeans that customers continue to want but the store doesn’t carry them. Buyer needs to order.
Want books

12. *Internal
*Slips completed for customer inquiries about out of stock items or items not carried
*Identify potential new products, preferred product assortments, and current stock deficiencies
*Example – Completed for customer and submitted for buyer to order or reorder
Want slips