The Art of Retail Merchandising
Right product, right place, right time – that’s what we know makes a retail business tick! And it’s the merchandising department that is pivotal to this formula with its remit on optimising the sales for any retail business – so often the function is over shadowed as a profession by its more glamorous sister position - the Buyer, that can take more of the glory of a successful retail business. However it’s the Merchandiser that should equally command this acknowledgement by successfully buying the product at the best margin and keeping the Buyer ‘in check’ and adopting the role of 25% Buyer to their 75% Merchandiser, questioning the amount of buy, options/SKU’s, price, weighing up the sale through rate against a mark down to sale scenario. A simple diagram illustrates this relationship between the functions below:- 75% 25% 75% We are finding in today’s environment the Merchandiser has to be more commercial, understanding the financial implications of the buy on the cash flow and how important it is to trade and optimise the margin to ensure the best return on the buy, the discerning Merchandiser will question the buy. The questions that a retailer should be raising include:- Would you rather sell out of stock and hit full price meeting your margin? What are the implications of not buying enough stock and having a great sale through rate – is it a loss of sale scenario or can flipping the coin mean an overbuy with excess stock for a sale item? Zara maintain the first option, the lack of stock sometimes creates that ‘impulse buy’ - ‘when its gone its gone’ leaving the customer knowing that that the buy could be completely missed, the effect this has is actually two fold, firstly creating a good sale through and secondly returning interest from the customer who will be compelled to buy for FOMO (fear of missing out) reasons. The merchandiser should be the architect of the buy particularly for ‘bricks & mortar’ stores ensuring there are enough of the right options to optimise the allocated space - continuously with new buy options - working closely with Buying and of course allocating. Merchandisers should question the business on buying scenarios such as:- What would be the implications of reducing size ratios and obtaining a better cost price? Would it be better holding griege for RTD garments and being more flexible to market need? The business of merchandising is trading and the more the merchandiser is commercially aware with sound knowledge of the market, their competitors and their customers, this will put them in a winning business position. After all Retail is Detail! If you are looking for new opportunities within Merchandising - get in touch with the team!
V&C’s Digital Breakfast Event!
V&C’s DIGITAL BREAKFAST EVENT! in collaboration with Google and Boden. V&C are proud to announce a unique breakfast event focusing on how brands can drive sales directly to consumers, without relying on third party websites. Google will be revealing how brands can best drive sales directly to their websites, improving margins and customer engagement. Boden will be giving an insight as to optimising content placement on your websites, to allow increased traction and sales delivery as well as discussing the power and value of capturing the behavioural patterns of your customers in order to maximise revenues. V&C has become a leading agency in assisting brands to embrace the digital revolution, and Matthew Vohs will be giving you an insight into how V&C has become the go to facilitator for the fashion and retail industry. We are delighted to already have Owners and Directors from brands including Savannah Miller, Live Unlimited, Les Girls Les Boys, Coast and Who What Wear, and many more. Not only will this event be enormously valuable to any brand considering their digital future but it will also provide superb networking opportunities. Please contact Shelley Sokel (email@example.com) for further details.
Vohs&Co Celebrate 6 Years and New Website!
V&C New Website Vohs&Co are pleased to announce the launch of our new website which is now live! Thank you to Reverse Delta who worked tirelessly with the business to provide a simple yet effective platform. We hope you enjoy using the site. V&C Events Vohs&Co events team have been focused on providing ‘Thought Provoking Content’ for the Fashion Retail Industry. In April 2019 we look to host Vohs&Co’s next event with a discussion on “How best can we embrace innovation and modern technology within the garment Manufacturing process to create 100% sustainable and ethically produced garments”. As we explore this interesting subject further we will be hosting a breakfast Q&A with Jeanologia from Valencia, Spain and Sartex from Monastir, Tunisia. Jeanologia ( https://www.jeanologia.com) Are the pioneers of innovative washing techniques and processes and have transformed the textile industry with its disruptive technologies (laser and eco systems) that enhance productivity, reduce water and energy consumption and eliminate damaging emissions and waste, guaranteeing ZERO contamination. Sartex – One North Africa’s Largest Denim producers and Tunisia largest export of bottom weight washed garments, Sartex (http://www.sartexgroup.com/about) founded in 1984 produce 4 million garments a year (Supplying Brands such as Timberland, Hugo Boss, Paul Smith, Fat Face, Guess, Calvin Klein, Donna Karen plus many more) Sartex have implemented Jeanologia washing process and intelligence and have successfully applied them to their manufacturing facilities. We look to forward to our forth coming event again around the important subject of Sustainability, Vohs&Co Celebrates 6 Years! ‘’Matthew I’m telling you we have 20 years of experience & knowledge with a great network, we are introducing people all the time, it would be madness not to put all of this energy and passion into a Recruitment company’’ I said 6 and a half years ago. Matthew and I have never looked back. Today we celebrate 6 years of Vohs&Co and WOW what an amazing journey we are on. We are learning, growing and evolving every day. Our team are superb and share our passion and enthusiasm. Thank you to all our clients and candidates old and new who support us by coming back, or approach us to help them grow their business. I can honestly say every day is different, we consult, offer advice and host events related to the industry, whether it’s about sustainability or digital, and most of all we place great people in great jobs! #vohsandcoturns6