If you’re already a merchandiser, it’s safe to assume that your natural eye for style is evident. But what separates the good merchandisers from the legendary? Here are three strengths that the best merchandisers have in common, as told by retail industry blog EDITD:
1. They’re on (the right) time.
For the best merchandisers, being on time to work is a given — but knowing the right time to bring in stock is essential for this line of work. Great merchandisers know that introducing stock too early means that the customer isn’t ready for it yet, leading to dead stock. On the other hand, bringing stock in too late could direct customers to better-prepared competitors. “Merchandisers need to understand the products and styles in their market and be able to detect commercial movement to up or downgrade stock at just the right time,” as retail industry expert Kristina Mills explained in a recent blog post.
2. They’re unafraid of markdowns.
Discounted prices are never ideal, but they’re a reality of the retail industry. This is another reason why timeliness is so crucial, as launching products at the right time is directly correlated to minimizing markdowns as much as possible. The best merchandisers understand that markdowns are a part of life, as customers will continue to actively seek lower prices. Being able to think quickly and detect warning signs early will always help you to cut losses and avoid trouble down the road.
3. They embrace the juggling act.
Everyone in this field understands that it’s one huge juggling act. Every day, merchandisers walk a fine line between playing it safe and taking risks. Top-performing merchandisers know how to strike when the iron is hot, but they also know when to turn away. This ensures their decisions are not only on trend, but accessible and cost effective. “It’s important to trial new trends but you have to make sure that the products you’re buying are what your customer wants,” Mills also stated. The ability to discover the next big thing while maintaining the projected profit margin in a timely, efficient manner will always set superstar merchandisers apart from the crowd.
Read more at EDITD.
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