CTD 481 Lecture 4: CTD 481 6 Month Intro to Planning Sales Notes

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Department
Clothing, Textiles and Interior Design
Course Code
CTD 481
Professor
Ms.Davis

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CTD 481 6 Month Intro to Planning Sales Pre-Market – Buyers • Complete a six month plan that sets goals for sales, inventory levels, markdowns, and determines the open-to-buy or budget for the department • Monitor fashion trends to determine what will be appropriate for the upcoming season • Plan assortments by vendor, style, and classification • Make appointments with sales reps • Run reports on current vendors’ business Six Month Planning • Before a buyer can go to market to choose their merchandise, they must complete a six-month plan ➢ This is the most important step in the buying process • This includes goals for sales, inventory levels, markdowns, and determines the open-to-buy or budget for the department • Since market occurs generally 5-6 months before the season, plans are usually completed 6-7 months in advance of the season ➢ Example: for the spring 2015 season, planning will likely occur around July 2014 before market in August/September 2014 Six Month Merchandise Plan • 4 key components of a merchandise plan: 1. Planned Sales: how much you plan to sell 2. Planned Stock: how much merchandise you plan to have on hand in order to achieve planned sales 3. Planned Markdowns: how much you plan to spend on markdowns in order to achieve planned sales 4. Planned Receipts: how much you plan to spend on new merchandise to sell to achieve planned sales Planning Season Sales • Review and analyze past sales performance for the same period (i.e. Last Year or LY) • Consider factors tat may cause a change in sales: ➢ Current sales trends ➢ Previous rate of growth patterns ➢ Economic conditions ➢ Local business conditions ➢ Fashion factors ➢ Influencing conditions within and outside the store o Changes in store concept, market direction, competition • Once LY has been analyzed and other factors considered, a planned percept of increase or decrease in sales from LY is determined ➢ Example: I have planned increase of 8% over LY for my sales for the upcoming Spring season
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