The field of retailing is constantly changing as new product and market opportunities develop. Regardless of the size of the shop, a successful retailer must continue to satisfy his existing customers and attract new customers to strengthen his market position. One of the prime areas of concern, particularly for small retailer, is effective merchandise management.
Major decision-making areas in merchandise management include:
• Sales forecasting and planning
• Merchandise planning
• Merchandise budgeting
• Inventory analysis
• Purchasing activity
• Selling activity
• Merchandise analysis and control
A successful ...