They are responsible for retail store tracking, bringing in new inventory based on consumer demand, creating sound financial plans that reduce company spending, and increase overall profit (Bordelon). Since the main goal of a Merchandise Planner is customer satisfaction their job can be best described as “being a liaison between the customer and the marketing and buying department, ensuring what the customer wants is available” (Bordelon). They review forecasts, use past performance to make projections, make recommendations for promotional markdowns, and manage inventory to maximize profitability. Additionally, merchandise planners research market trends to increase create more attractive
Better understanding of consumer result in an efficient marketing strategies. The factors that influence consumer decision in fashion clothing can be mainly divided into three variables: Demographic, Psychographic and Socio-Cultural Influences. Consumer and Consumer decision A consumer is one who determine personal wants, buy products, and uses those products.
Vocollect Voice technology is helping them save time and cost as shipments will be organized automatically in stores and distribution center, via the technology just by giving voice commands to the system. b) Management Information system: Lululemon using product life management system is helping them analyze their product life cycle efficiently. It is easier to assess which product stands where and what marketing strategies they need to conduct in future to increase the sales for the particular product. Question C Supply Chaining: Creating yoga lines is an example of supply chaining. As they must have given production unit to a specific supplier which produces all the clothing supplies for Lululemon Outsourcing: Lululemon using Vocollect voice technology is an example of outsourcing as they are using their services via their networks in order improve communication and speeding up the process in their distribution centers Question D Porter’s Competitive Forces Model *Threat of New Entrants: Providing free yoga classes in Lululemon store is a very unique service provided by any clothing manufacture.
There you can find the latest bundle discounts and view the various categories and their specific offers. The place is also the best for finding seasonal offers and clearance items. ********************************************************************************* Redeem your savings code You can make savings on the online store with voucher codes. Using your code is simple. Once you have done your shopping, you can click the My Bag icon.
The company has a short time frame within which an idea is implemented. For instance, Zara designers may conceive a particular design that may seem fashionable at the current time and ensure that clothes are within the retail outlets within ten days. The speed of innovation and invention favors the versatile customers who love moving with the fashion trends. Zara, however, ensures that it releases few clothes to test the market thus saving the company on huge inventory costs that would lead from a dead stock. Notably, Zara has shied away from the top-down decision-making approach because the company understands that the employees are more inclined to understand the consumer trends.
These characteristics, a complicated supply chain and wide availability of data make the industry a suitable avenue for an efficient supply chain. Also the fashion industry has been in a transition during the last 20 years: significant consolidation in retail, with most of the apparel manufacturing operations moving overseas and, in more recent times, increasing use of e-commerce in retail and wholesale trade. Historically, retailers have tried to exploit relationships with suppliers. Bargaining power of buyers is moderate because of the size and concentration of major retailers. To reduce power and you gain customers, retailers seek to differentiate products and to create stronger brands.
In order to stay alive in the competition, other small fashion apparel merchants converted from product-driven to buyer-driven chains, made collaboration with dealers in diﬀerent markets and started to promote their unique brands. This collaborations help to increase the sales and to low the cost which result in increase the profit margin. Now there are lots of brands are present especially for women clothing which increase the competition and it also facilitate the customers to buy unique and creative designs. To remain in the market it is necessary for the designers to introduce new, unique and creative designs
Entering in this type of business can be easy for entrepreneurs who already have enough capital to manufacture bags, who already have a background in this type of industry, who are updated in the current fashion trends and those who already know a supplier and a manufacturer that they can do business with. To be able to enter in this type of industry, you will be needing a money amounting to Php 67,416 for the costs that will be incurred for the first month of the operation of the business. Rent for the bazaar amounting to Php 7,500 and Php 300 for the storage, Php 7,032 for the necessary licenses and permits, Php 991.2 for the electricity, Php 300 for the transportation expense, Php 999 for the usage of
They focus on attracting younger customers while retaining Burberry’s core customer base by filling up the gap in the market, between that of classic fashion and cutting edge fashion. Their products are classified into two main types that include fashion or continuity. Fashion products are made to be responsive to latest fashion trends and usually only had a seasonal life cycle. These products are introduced on a collection-by-collection basis. As for Burberry’s continuity products such as the classic trench coat, their life cycles are anticipated to last for several