c:\fakepath\ied 11th february 2010
TRANSCRIPT
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A buyer’s activity during the year
• Before the buying campaign:– Prepare sales analysis – prepare or review a given budget
• During the buying campaign:– Analyze the collection, collect information from the press office
select products, place orders, review selection/orders
• After the buying campaign & during the season– Prepare the collection briefing, organize training for the sales
associates, organize trunk shows, travel/visit the stores, check the display, work on sales analysis, place re-orders, prepare carry over & mark-down lists, do store checking (other brands flagship stores or multi-brand stores), updated on trends…
…RECALL…
The Retail Department structure
• Example: big company / big retail structure
3
Fashion Coordinator
Merchandiser
Styling Dept.
cooperation info directions
RETAIL DEPARTMENT
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Buying Campaign: main activities
• Collection overview (show) + official briefing
• Product selection
• Selection review
• Eventual budget review
• Master order
• Orders
• Orders Review
Retail
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Collection overview + official briefing
• The merchandiser (eventually with a production specialist) introduces the collection to the buying team (& the commercial dept)
INFO = MOOD – INSPIRATION – DETAILS REGARDING MATERIALS/PRODUCTION (leather characteristics and origin, materials composition, dying process, weaving techniques…) – CONTINUATIVE OR RE-INTERPRETED ITEMS – PRODUCT FAMILIES OR STORIES* – MUST HAVE - ADV CAMPAIGN PRODUCTS) …
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Product selection 1
• Basic information– Sales reports (counter season - before markdown)– Analysis (best – worst seller – price range
analysis)– Budget!
• Basic materials– Collection book– Pricelists– Color swatches– (Fashion show) look-book– ADV campaign/catalogue selection ….
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Product selection 2
• How to go through a collection and select?
– By category• Example1: RTW = coats – jackets – dresses…• Example2: SHOES = form/heel • Usually starting from the most important categories
– By material/fabric• Example1: RTW = Silk Jacquard – Flower Printed
Chiffon…• Example 2: BAGS = Washed Buffalo – Brushed Calf…
– By look: fashion show/collection look-book (+)
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Product selection 3
• Finalizing the selection
– Consider what happened last season (counter season buying campaign)
• Compare # of SKU selected• Compare price ranges (preliminary check)
– Consider sales analysis• Any best seller item missing?
– Re-consider the budget• Budget % allocated to the different lines/categories
– Consider commercial department and store managers comments (if a visit is foreseen)
• Missed sales , requests, alerts, …
special request?
budget review?
special request?
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Selection review
• The merchandiser (eventually + with the fashion coordinator ) or the retail/area/country manager review the selection with the buying team
IMPORTANT STEP = all the work done so far by the buyers is checked and approved.
INFO SHARED = more MUST HAVE – special SELECTION RULES (products to be selected for special locations only, special products for special locations…) – SPECIAL REQUEST discussion/approval - update on advertising campaign/catalogue/press feedback…
MASTER ORDER
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The Master Order• Master order = the final and official selection of products
that shall be ordered for the brand stores all over the world (or belonging to a particular area/country)
MASTER ORDER
ORDERS
GLF
Av.Montaigne
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Orders & Orders Review
• Things to consider when writing orders– Budget (eventually consider a very final review)
– Product features:• importance – price – easy to sell? *
– Store features:• wished type of assortment: deep/broad – price range• importance (location – sales)• store structural features
– Area/City characteristics:• different assortment for different doors *
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After the buying campaign and during the year 1
• Writing collection briefing – mood, inspiration, materials, fabric, production details
…
• Sales associates training– goal: transfering important and clear information to the
customers, make them understand the product value
• Visiting the stores– general overview (staff, display, customers, …)
– collecting staff comments /requests– preparing a visit report– store check (competitors o multi-brand stores)
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After the buying campaign and during the year 2
• Trunk Show organization / co-ordination
– Trunk show = event taking place (typically) in the most important stores, organized to present the collection (in advance) to the most important customers
– Event features:• mini show (models) or collection presentation (special display)• cocktail (soft party atmosphere)• gifts for the customers (GWP)• product booking /order collection• press
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After the buying campaign and during the year 3
• Day-by-day activities:– Production timing, deliveries situation check– display check (photos are usually sent monthly)– sales analysis– re-orders– product transfers between the stores
• Mark-down preparation– carry over selection and mark-down lists (TBC)– mark-down calendars check (private sales –
public sales)
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After the buying campaign and during the year 4
• Update on trends …