The Strategic Threads: Understanding the Nuances of Merchandise Planning

𝘞𝘩𝘢𝘵 𝘪𝘴 𝘔𝘦𝘳𝘤𝘩𝘢𝘯𝘥𝘪𝘴𝘦 𝘗𝘭𝘢𝘯𝘯𝘪𝘯𝘨?

Merchandise planning is like picking out the clothes you want to wear.
Store owners want to make sure they have the right clothes in their store for people to buy.
So, they plan by looking at different parts of the process.

1️⃣ One part is 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗔𝘀𝘀𝗼𝗿𝘁𝗺𝗲𝗻𝘁.
This means choosing which clothes the store will sell. For example, a store might decide to sell more summer clothes during the summer and more winter clothes during the winter.

2️⃣ Another part is 𝗣𝗿𝗶𝗰𝗶𝗻𝗴 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆.
This means deciding how much to charge for the clothes. For example, a store might charge more for a designer shirt and less for a plain shirt.

3️⃣ Finally, store owners also make sure they have the right amount of clothes in stock. This is called 𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁.
For example, a store might order more shorts before summer to have enough for the season.