Retail merchandiser jobs

Retail merchandisers forecast future sales patterns by collaborating closely with buyers to guarantee optimal profitability.

As a retail merchandiser, it is your responsibility to make sure that items are stocked in the appropriate quantity, at the appropriate time, and in the appropriate location (online or store). This requires maintaining constant communication with the purchasing teams in order to effectively estimate trends, plan stock levels, and track results.

The merchandiser makes the decisions on how much money should be spent, how many lines should be purchased, and in what amounts while the buyer chooses which lines to purchase.

In more compact businesses, a single individual can be in charge of both the purchasing and the selling of goods.

The level of success that merchandisers have in their profession may have a direct impact on the amount of money that can be made in the retail industry. Merchandisers are responsible for establishing pricing, monitoring the performance of product ranges, and organizing markdowns and promotions as required. Their goal is to maximize profits.

In addition to this, they manage the delivery and distribution of merchandise and interact with the vendors.

Responsibilities

In most cases, if you want to succeed as a retail merchandiser, you will need to:

collaborate with purchasers to set out product lines, as well as sales and inventory strategies.

communicate with purchasers, market analysts, retail establishments, wholesalers, and distributors.

Keep an extensive database of relevant information organized.

Collaborate closely with the personnel in charge of the visual displays as well as the managers of the various departments to determine how the products should be exhibited.

create shop layout blueprints, which are also frequently referred to as "statements."

predict both earnings and sales and work to maximize both the volume of sales and the profit margins in certain product categories.

Prepare financial plans, as well as sales projections and numbers, for new product lines.

Maintain appropriate supply levels according to prognoses made for the next weather pattern.

Utilize specialized software on your computer to do tasks such as managing sales information, creating sales estimates, and presenting spreadsheets and graphs.

Examine each component of your best-selling items (such as the price points, colors, and styles that sell the most), and make adjustments as necessary to ensure that they realize their maximum potential.

retain an awareness of the performance of other rivals.

Keep an eye out for products that aren't moving and adjust your pricing or provide discounts or incentives as appropriate.

collect data on how different types of consumers feel about different items.

report on the current season's lines and do an analysis of the sales from the previous season.

deliver presentations on the company's finances to upper management.

accompany purchasers on visits to producers so that they may have a better understanding of the manufacturing process.

engage with the suppliers and oversee the distribution of product by negotiating cost pricing, ordering material, agreeing on timeframes and delivery dates, and filling out the relevant documentation.

Determine where production and supply bottlenecks are, and be prepared to address any issues or delays when they crop up.

oversee, instruct, and manage lower-level employees.

Salary

Beginning rates for assistant merchandisers run anywhere from £16,000 to £18,000, with potential increases all the way up to £22,000 with experience.

A merchandiser with many years of experience might anticipate earning between £28,000 and £36,000 by the time they reach their peak earning potential.

A senior merchandiser may expect to make between £45,000 and £65,000 per year, in addition to receiving a benefits package. A head or director of merchandising at a major firm might make an annual salary of more than 85,000 pounds, in addition to receiving other perks, if they are at the very top of their career.

Location, the size of the company, the amount of turnover, and the kind of product all have an impact on salaries. Most of the time, the biggest pay may be found in large, high-street multiplexes. Other perks, like a corporate vehicle and private health insurance, are very typical for employees to get.

The monetary amounts listed are just meant to serve as a reference point.

Time spent working

The typical work week begins at 9 am and ends at 5 pm, Monday through Friday. However, in order to support the opening of a new shop, during a particular sales campaign, to introduce a new product or range, or to cope with unanticipated manufacturing challenges, extended working hours may be essential.

There are times when working on the weekend or in the evening is required in order to visit shops or engage in competitive shopping.

Finding employment on a part-time basis might be challenging due to the need to be accessible on a daily basis in order to resolve issues with the company's suppliers. On the other hand, certain employers could permit more adaptable working hours.

What may be anticipated

The majority of the work is performed in an office setting, and each day is split evenly between time spent working alone and interacting with coworkers. You will spend some of your time each week traveling to other retailers or suppliers, as well as sometimes going to different trade fairs or fashion shows.

Merchandising is a role that may either be housed at the company's main office or at one of its branches, depending on the retail establishment. The bulk of retail merchandisers are employed at head offices, the majority of which are located in London and the South East, as well as in other significant cities.

The position entails working in an atmosphere that is both dynamic and competitive, with high levels of responsibility for potentially very big budgets. In this context, even relatively slight mistakes may result in significant decreases in profit, therefore it is important to avoid making any. This feature has the potential to either be encouraging and challenging or stressful for the individual.

You could be required to spend brief amounts of time away from home on occasion, and there might be opportunities for you to travel internationally. This is especially true in the fashion industry; for instance, you might have to accompany buyers to Latin America, East Asia, or South East Asia. When you reach a senior level, it's possible that you'll be forced to travel in order to locate new suppliers, choose and purchase items, or resolve issues with manufacturers.

You can only really consider working for yourself or freelancing if you establish yourself in the retail industry as a consultant.

Qualifications

Even though all college graduates are eligible for employment in this industry, having a degree in one of the following fields may improve your chances of being hired:

accounting and financial management

either commercial or managerial

economics

referred to also as computer studies

marketing

The mathematical or statistical discipline

retail management.

Because of their superior analytical capabilities, many businesses have a preference for recruiting recent graduates with degrees in business or mathematics; however, other businesses are open to considering candidates with degrees in any field so long as they have the required skills.

It will be to your benefit if you have an interest in the items that the firm sells at retail.

Those who have a Higher National Diploma (HND) may also apply for this job, notably in the following fields:

accounting and financial management

either commercial or managerial

logistics, supply chain management, and related fields such as transport and distribution.

Candidates who have other relevant credentials or experience may be admitted without a degree or HND provided they meet the entry requirements. There is a need for strong A-level performance for some allocator and assistant merchandiser positions.

Although a postgraduate degree is not required, there are courses that are pertinent to this field that you may take. Conduct some research on merchandising-related postgraduate programs.

Skills

You'll need to make sure you have:

excellent analytic and arithmetic abilities in order to calculate budgets and comprehend sales numbers

the ability to perform well under pressure in a fast-paced setting, as well as the capacity to recognize issues and provide suggestions for their resolution

abilities in planning and prioritizing activities, as well as solid decision-making abilities

great communication and bargaining skills

the capacity to contribute effectively to the work of a group and to establish and sustain productive working relationships with a diverse group of individuals

excellent business sense and the capacity to comprehend what aspects of a product or service would appeal to certain types of clients

The ability to use computers

originality of spirit

self-confidence

a valid driver's license is sometimes an additional need as well.

Practice in the workplace

Due to the high level of competition for available positions, prior experience working in an office setting is often required before applying. Work experience with one of the big high street stores may also be helpful in demonstrating an interest in retailing as well as a grasp of stock management levels. This is something that may be useful both during the application process and during the interview stage.

Although there are not many graduate training programs available for merchandising, certain retail management training programs do include merchandising as one of the expert areas. The vast majority of graduates will be required to make direct applications for junior or entry-level positions. These positions are typically those of an allocator, whose primary duties include data analysis, assisting the merchandiser in allocating stock to stores, and liaising with suppliers over stock delivery times.

Other entry-level professions include those for a merchandising administrative assistant and a distributor (MAA). It is possible that making speculative applications straight to the merchandising sections of large shops may prove to be beneficial.

When you are searching for merchandising jobs, it is vital to thoroughly grasp the definition of the position that is used by that specific organization. This is because the job description and the tasks that make up the job may differ quite a bit from one company to the next.

Many of the larger retailers have in-store merchandise teams whose job it is to organize and place stock on the shop floor in accordance with the instructions given to them by the head office merchandiser. These teams are responsible for carrying out the instructions of the merchandiser at the head office. An understanding of how merchandising strategies are supposed to be perceived may be gained by prior service on one of these teams.

It's feasible that one might begin their career in a related profession, such as visual merchandising, and eventually work their way up to the position of retail merchandiser. Visual merchandisers are responsible for the creation of window and in-store displays, as well as the overall "look" of the business. Their work is done in shops and department stores, and it is done with the intention of showcasing products in order to increase sales.

Find out more information on the many types of work experience and internships that are currently offered.

Employers

Approximately three million people are employed in the retail business. The sector as a whole is undergoing transformation at the moment, primarily as a result of the explosive rise of online shopping. According to the Centre for Retail Research, conventional high street retailers are forecast to see a drop in number over the next five to ten years, while online retail sales are forecast to maintain their upward trend and continue to expand.

The following categories of businesses are those that are most likely to hire retail merchandisers:

retail merchants of fashion

department stores

many locations of chain retailers on the high street

supermarkets

chain restaurants serving quick food, sandwiches, and coffee

bigger independent high-street stores

wholesalers and Distributors

manufacturers

mail order firms

online shopping providers.

There are chances to work in other countries, notably with retail companies that have locations in many countries.

Try looking for employment opportunities at:

Choice of Retailing

RetailWeek

Merchandising jobs are often handled by recruiting organizations that specialize in the fashion and retail industries. For example:

Personnel in the Fashion and Retail Industries

Human Resources for the Retail Industry

Appointments of Succeeding

Talisman Style is in Vogue

Improvement of one's profession

The majority of retail merchandiser training takes place on the job and is competency-based. Typical training for retail merchandisers entails working towards certain defined goals and completing projects, either on an individual basis or as part of a larger group.

The majority of retail businesses will provide some kind of training program. This may vary depending on the company, but may involve training on the following topics:

assertiveness

communication

actions taken by consumers

negotiation

training in the system

time management.

Merchandising is a subject that can be studied through the completion of a variety of courses, some of which include crash courses in fashion merchandising offered by the London College of Fashion, as well as postgraduate taught courses and research opportunities offered by a number of different universities.

There are a variety of universities that offer programs that concentrate on retail display and merchandising that students may enroll in. There are additional fundamental courses in purchasing and merchandising that may be completed via distance learning.

The Fashion Retail Academy is available to those individuals who are interested in pursuing a profession in the field of fashion retail. The Academy's goal is to develop and implement professional and vocational training programs, such as the Level 4 Merchandising for Fashion course, in collaboration with the retail sector.

Because the Academy maintains close ties with the headquarters of major retail companies in London, it is able to provide its students with the opportunity to get practical experience as part of their educational program. There are also more condensed versions of merchandising classes available at the beginning, intermediate, and advanced levels.

Additional professional certifications that may be appealing to merchandisers are given by the following organizations:

An organization known as the Chartered Institute of Marketing (CIM)

Chartered Institute of Purchasing and Supply is the organization's full name (CIPS)