Fundamentals of Planning: Understanding Merchandise Planning for Retail Success

Merchandise planning is a little known area within retail that quietly plays a key role in the success of a retail organisation. There are few organisations that truly see the benefit it brings into an organisation and due to the perceived amount of investment needed to set up a merchandise planning department, it is a function more commonly seen in larger organisations. Yet, its power can benefit any sized retail organisation or venture. There are various definitions that have been given on what merchandise planning is, many of which includes the key aspects of what is involved in planning and gives a technical definition. Even though these definitions are correct, the one thing they do not do is provide a definition that explains what merchandise planning is to a layperson. This is where this book comes in as it gives a simplistic answer to the questions: ‘what is merchandise planning?‘ and ‘what does a merchandise planner do?‘ Also covered in the book are the skills needed to perform the role of merchandise planning, a look at the effect technology has had and continues to have in retail and how retail has changed through the years. Merchandise planning is not just for large retail organisations and by gaining an understanding of the function from reading this book, you will start to see it is something that can be applied to any retail venture where there is an exchange of goods, regardless of retail size.