retail buying plan

fall 2013buying plan - women’s outerwear

ashima chauhan

table of

contents

Store Profile 3

Customer Profile 7

Demographics/ Psychographics 8

Six-month Business Plan 11

Stock Assortment Plans 12

Market Purchases and Justifications 15

Sales/ Marketing/ Training/ Promotion 74

store profile

Barneys New York is an American chain of luxury department stores spread out

across more than 40 locations in the United States, including ten full-size flagship stores. Its

headquarters in Manhattan, New York.

It was founded in 1923 by Barney Pressman, and was recently acquired by Perry

Capital, which is a private hedge fund firm. The store sells designer apparel for men, women,

and children; as well as shoes; accessories; and home furnishings. It mainly caters to an upscale

clientele and is perceived as a prestigious shopping destination for the affluent.

Its competitors include Bloomingdale’s, Brooks Brothers, SAKS Fifth Avenue, to

name a few.

chicago store

The Barneys in Chicago was opened up in

1992. It is located on Oak Street. It includes services

such as: Bridal/Gift Registry, the Personal shopping

service, as well as Fred’s Restaurant, which is a

signature restaurant to certain Barneys stores;

Chicago being one of them. The store itself is located

in downtown Chicago among a lot of high-end designer labels and restaurants, and therefore,

expects an upscale clientele.

new york

store

The New York store is located in

Manhattan and has the same services provided

by the Chicago store with the addition of a few

more services like: Studio service, which is a

sort of discreet shopping service mainly

available for stylists, designers, and celebrities; Concierge service providing, restaurant

reservations, tickets, car services, etc.; they also have Make-up Artists in residence; and a

Completely Bare, Hi-Tech Spa for luxury spa services. These services draw the attention of

the likes of various celebrities.

In addition to these services, the store incorporated a 22,000 square-feet section

recently dedicated to women’s shoes, in July.

Due to the enormity and location of this

store, along with the fact that it is the flagship

store, the New York Barneys has the highest

amount of importance.

boston store

The Boston store is located at

Copley Place, which is a mall in Boston

and was opened in 2004. Its structure

emulates a store-within-a-mall layout. The

mall itself carries a variety of high-end

luxury brands. The Barneys includes

services such as the Concierge Service, Personal Shopping service, and Make up Artists in

Residence.

customer profile

Our customer is a young professional

woman who lives in the city, has a challenging

job in a higher level profession, with a high

income and household size of around 1-3.

Despite her hectic job, she still goes out, spends

time with her friends and family, dresses up

when she feels like and is open to changing her

look everyday. Her income lies in the six figures

bracket. She is well educated and has a good

sense of high-fashion brands and relies on them

for their quality and unconventional designs,

especially outerwear.

demographics/ psychographics

When we go into the Demographics/Psychographics of each city, we can see a lot of

similarities in all three cities. Race, for example, there are predominantly white people in all of

these areas. New York has a higher number of Hispanic/Latino population, which we need to

keep in mind when buying different colors of the same product. While Chicago has a higher

number of Asian demographics, which could impact sizing decisions.

They are mainly between the ages of 30-49, which includes new families as well as

established families with a discretionary income of about 20-30%. Their incomes are higher

especially in between the $75,000-$200,000 bracket, which means that the people living in

these areas are quite well off and are more likely to be able afford expensive products.

Most of these people are employed in the Management and Professional sectors in all

three cities. Most of the people in New York and Boston are single, however, more people are

married in the area in Chicago, which makes spending less conservative in NY and Boston,

while people in Chicago might spend more conservatively due to other family expenses they

incur. Most of these people are educated and have either a Bachelor’s degree or Graduate

degree. This ups their chances of being aware about luxury brands, drawing them to the store

even more.


0%

10%

20%

30%

40%

50%

0 to 9 10 to 19 20 to 29 30-49 50-79 80+

Age

0% 5% 10% 15% 20% 25% 30% 35%

<10,000

$10,000-34,999

$35,000-

$75,000-

200,000+

Income

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

Hispan

ic

White

Black

Asian

Oth

er

Race

Chicago

Boston

New York


0% 10% 20% 30% 40% 50%

<9th gr

ade

9-12th

H.S. G

radu

ate

Some C

olleg

e

Associa

te's

Bachelo

r's

Gradu

ate

Educational Achievement

0%

10%

20%

30%

40%

50%

60%

Never Married

Married Separated Widowed Divorced

Marital Status

0% 10% 20% 30% 40% 50% 60% 70% 80%

Man

agem

ent

Service

Sales/

Offic

e

Farm

Constr

uctio

n

Produ

ction

Occupation

Chicago

Boston

New York

stock

assortment plan

Product: Women’s Outerwear

Classification August September October November December January

Trench coats & Rainwear

30% 35% 30% 23% 20% 20%

Leather, Suede & Shearling

30% 40% 23% 17% 12% 5%

Down/Puffer 10% 3% 17% 40% 32% 30%

Wool & Cashmere

15% 17% 13% 13% 23% 25%

Fur & Faux Fur 15% 5% 17% 7% 13% 20%

Total 100% 100% 100% 100% 100% 100%

stock

assortment plan

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

August&

September&

October&

November&

Decem

ber&

January&

Trench coats & Rainwear

Leather, Suede & Shearling Down/Puffer

Wool & Cashmere

market purchases

august

purchases

Class Planned Actual

Trench coats & Rainwear $118,000 $117,600

Leather, Suede & Shearling $118,500 $118,395

Down/ Puffer $39,500 $39,390

Wool & Cashmere $59,200 $57,130

Fur & Faux Fur $59,200 $58,550

Total $395,000 $391,065

september

purchases




Down/ Puffer $20,700 $20,680

Wool & Cashmere $117,600 $116,875

Fur & Faux Fur $34,600 $34,063

Total $691,700 $683,798

november

purchases




Down/ Puffer $32,500 $32,265

Wool & Cashmere $10,600 $10,320

Fur & Faux Fur $5,700 $5,670

Total $81,300 $79,375

january

purchases




Down/ Puffer $95,900 $94,925

Wool & Cashmere $79,900 $79,330

Fur & Faux Fur $63,900 $63,105

Total $319,700 $315,965

sales, marketing, training & promotion

august 2013

S M T W T F S

4Window Display Contest

5Email blasts

6 7 8 9 10

11 12 13 14 15 16 17

18Window Display Contest - winner announced

19 20Customer Review

21 22 23 24

25 26 27 28 29 30 31

Email blasts - Every 5th day of the monthCustomer Review - Make calls to loyal customers/ ask about satisfaction w/ products

Window Display Contest - Most Innovative idea by any employee is given a free ticket to watch Broadway play in October (inclusive of travel and lodging expenses)

september 2013

S M T W T F S

1 2Labor Day Sale

3 4 5Email blasts

6 7

8Moda Operandi Partnership

9 10 11 12 13 14

15 16 17 18Customer Review

19 20 21Moda Operandi Partnershipconcludes

22 23 24 25 26 27 28

29 30 1 2 3 4 5Email blasts


Labor Day Sale - Offers a one day sale of upto 20-30% Moda Operandi Partnership - Barneys partners w/ Moda Operandi for the ‘Moda Operandi Collection - Exclusively at Barneys’ campaign, whereby customers can actually view and buy

runway garments from Fashion Week, as opposed to online.

october 2013

S M T W T F S

6 7 8 9 10Augmented Reality installationpromotions begin

11 12

13 14 15 16 17 18 19

20Augmented Reality Party

21 22 23 24Customer Review

25 26

27 28 29 30 31 1 2


Augmented Reality installation - Customers download an app on their phone through which a storefront is brought to life right before them. They can immediately buy the products from

where they are. Augmented Reality Promotional Party - Customers are greeted with champagne and hors

d’oeuvres while they shop, prepared at Fred’s Restaurant (exclusive to Chicago & New York), while the app and details are explained.

november 2013

S M T W T F S

3 4 5Email blasts

6 7 8 9

10 11 12 13 14 15 16

17 18 19 20 21 22 23

24 25Customer Review

26 27 28Thanksgiving Sale

29 30

Email blasts - Every 5th day of the month.Customer Review - Make calls to loyal customers/ ask about satisfaction w/ products.

Thanksgiving/ Black Friday Sale - Select items offered at 30-35% discount.

december 2013

S M T W T F S

1 2 3 4 5Email blasts

6 7Holiday Season Employee Workshop

8Holiday Season Employee Workshop

9Private Sales begins

10 11 12 13 14

15 16 17Customer Review

18 19 20 21Private Salesconcluded

22 23 24 25 26 27 28

29 30 31 1 2 3 4


Private Sales - to exclusive Barneys’ preferred customers.Holiday Season Employee Workshop Program - Seasonal + regular employees are trained and

given one-on-one education about what is to be expected during the holiday season, etc.

january 2013

S M T W T F S

5Email blasts

6 7 8 9 10 11

12 13 14 15 16 17 18

19 20 21 22 23 24 25

26Employee Appreciation








Employee Appreciation Month - Employee of the Month winner is announced at the end of the month, while employees compete to have highest number of sales. Last week includes

different, innovative challenges headed by the department manager. Winner is given a $5,000 bonus.

retail buying plan

Documents

chicago store

boston store

new york store

store profilebarneys

new york barneys

car services

luxury spa services

personal shopping service