"The end objective of buying and merchandising is to achieve sales and gross margin objectives through effective merchandise management of a department or group of departments." —from Management of Retail Buying, Third Edition There is more to retail buying than simply forecasting consumer demand. The successful buyer employs a complex constellation of skill, art, and careful study to plan and manage the flow of merchandise from the wholesaler or marketer to the consumer. This book contains the combined wisdom, knowledge, and hard-won savvy of three of the world's foremost authorities on managing retail buying, each of whom brought a lifetime of experience to the creation of this third edition of the most important book in every retail buyer's library. This comprehensive volume covers every aspect of retail buying, from targeting desired consumers and purchasing goods tailored to their tastes and needs, to negotiating with vendors, managing inventory, and using computers to expedite the buying process. Management of Retail Buying is organized into three parts: The Buying Process, Planning and Managing Merchandise Assortments, and Where and How to Buy. Part I features an overview of the buyer's milieu; a look at how the buying process can be organized and controlled; and in-depth descriptions of the several types of buying groups, how they function, and their similarities and differences. Part II focuses on the keys to understanding the consumer, forecasting demand, and using that forecast as a basis for selecting merchandise. Because retailers of staple goods face a very different set of objectives and problems from retailers of fashion and seasonal merchandise, separate chapters are devoted to planning and control of assortments in these different types of establishments. The book's final section examines the world of suppliers, vendors, price negotiations, order placement, special services from vendors, and actual acquisition of the merchandise. The authors provide authoritative and timeless advice on competitive strategies and tactics, foreign buying, controlling the logistical factors that lie between the purchase of goods and their delivery to the point of sale, and much more. Whether you're a seasoned retail veteran or a student or novice hoping to make retailing your life's work, Management of Retail Buying, Third Edition is destined to become the most highly prized volume on your bookshelf. The standard text/reference for retail buying and merchandising is now revised, expanded, and updated for the 1990s and beyond . . . This Third Edition of one of the classics in retailing literature combines the timeless wisdom of three of the industry's giants with a detailed examination of the current state of the retailer's art. It provides comprehensive coverage of every aspect of retail buying and how to manage the buying process in order to maximize profits and minimize losses. It also offers in-depth discussions of the numerous skills and techniques needed to succeed as a buyer or merchandise manager in today's competitive retail environment, including: Organizing and controlling the buying process Understanding consumer demographics and psychographics Identifying consumer trends and forecasting demand Analyzing and interpreting sales records Planning and control of merchandise assortments Using computers to increase competitiveness Shopping vendor lines and negotiating prices and services And much more

Providing the opportunity to acquire a deeper knowledge of a key area of retailing management – managing the product range – this important text is essential reading for those studying retail management or buying and merchandising as part of a degree course. Challenging yet clearly presented, it links academic theory to the buying and merchandising roles within retail organizations and current operational practice. It covers all retail operations which revolve around the procurement of products, including: stock level management allocation of outlet space for products store design mail order shopping digital TV shopping. With learning objectives, boxed features, review questions, chapter introduction and summaries, a glossary of terms and international multi-sector case studies (including Reebok, Benetton, and The Body Shop), this significant text is a valuable reference for those involved in the retail sector.

Covers topics that are important to aspiring retail buyers and store management personnel with responsibilities for managing retail sales and inventories.

This text represents a specialist text resource for students of retail management or marketing courses and modules, providing the reader with the opportunity to acquire a deeper knowledge of a key area of retailing management.

Retail buying covers broad areas such as organization of retail establishments, distribution, roles of buying groups, planning and control, choosing vendors, negotiation, pricing, and selling of goods and services to the consumer. This text offers detailed and up-to-date coverage of retail buying, promoting smart decision making in today's complex global marketplace.

This comprehensive work provides students with the skills and savvy needed to become successful buyers in any area of retail. Its simple and straightforward approach presents step-by-step instructions for typical buying tasks, such as identifying and understanding potential customers, creating a six-month merchandising plan, and developing sales forecasts. This fifth edition contains up-to-date coverage of important retailing trends and technological advances, including social responsibility, sustainability, fast fashion, and the use of new media and social networking.