Collection of Numerical Data Stage
(Section 3, Part 3)
We recommend printing off the course content reference guide to assist you in the third section of How to Think Like a Buyer courses: Preparing the Six-Month Merchandise Plan.
Numerical Data for Existing Store
Stage 2 of developing the Six-Month Merchandise Plan is the collection of numerical data that must be analyzed in order to build a basis for calculating the future plan. If the buyer is calculating a merchandise plan or budget for an existing store or department, they will study the actual budget figures and/or plan of the previous year for the same season for which the new budget is being prepared.
Weather Patterns, Sales Promotional Calendars
Most retailers keep a daily log of weather conditions and how those conditions may have impacted the daily sales volume and possibly markdowns. Recently some retail analysts voiced opinions that they do not think weather has a major impact on multi-year sales volume averages or sales patterns of the retailer. However, the majority of buyers know that weather, at any given time, can be the one culprit that hinders the attainment of achieving planned sales goals or reaching margins and profit for a specific sales period.