Assortment and merchandise planning in retail aimed at achieving maximum return on investment, through planning sales and inventory in order to increase profitability. The solution does this by maximising sales potential and minimising losses from mark-down and stock-outs and ensure retailers that the right product is available to the customer at the right place, time, quantity and price. Customers indeed are constantly demanding new, better and more personalized products on their schedule. This demanding Fashion & Luxury brands make accurate planning more important than ever. Retailers now have to offer larger assortments through multiple channels. Due to these additional complexities, line planning and inventory management are becoming a science that retailers must invest in order to excel in.
Merchandising is an essential component to retail sales since it facilities the customers shopping experience. To successfully merchandise a fashion retailer–whether it’s a small boutique or major department store–requires that fashion representatives stay up-to-date on the latest fashion trends to understand what consumers will want to buy.