Develop a Category Financial Plan (BRI)

In this workshop, we explore what is arguably the core activity of merchandise planning. We discuss the Retail Equation which connects stock, sales, markdowns and purchases. While the Retail Equation is deceptively simple, the business of retailing is complex as there are circular arguments embedded in the equation that are not obvious at first.  

Sales relates to stock. If you have zero stock you can only achieve zero sales. If you have full racks, you have a change of making more sales. However, high markdowns are related to stock too. If you are over-stocked, then markdowns are needed to clear the problem. High closing stock, whilst good for sales and bad for markdown, is also bad for freshness in the following month.

Sales relates to freshness. Customers want to see the latest fashion range, or latest technology, or fresh bananas.

As you can see, retailer is quite complex and ultimately a juggling act in getting the stock mix just right to maximise sales and profit. This workshop will go through:

• Determining category planning requirements

• Developing category financial and range plans

• Reacting to trade

Target Audience: Retail Buyers, Merchandise Planners, Product Managers, Business Owners

Level: Entry - Intermediate

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Disclaimer:

This workshop is subject to change or cancellation if minimum number of participants is not reached. We will endeavour to notify you as early as possible. Your ticket can be transferred to the next available workshop of the same topic or you can request a refund.

If you have purchased a ticket but cannot attend, please contact the Program Manager ( yvonne.chow@retail.org.au) to have your ticket transferred to a later date. If you cancel within 24 hours of a workshop date, please note that your ticket cannot be refunded.