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What does a merchandising planning analyst do?

What does a merchandising planning analyst do?

A Merchandise analyst or merchandise planner is in charge of planning and monitoring a company inventory. You will also assist in planning implementation and reviewing a company’s inventory allocation strategies, merchandise assortment, and other related strategies.

What does a planning analyst do?

Planning Analyst Duties and Responsibilities Planning analysts develop marketing and financial strategies to increase company profits and boost sales. Planning analysts study and analyze various business data and financial information, including market trends, sales figures, and inventory control processes.

What does merchandise planning do?

Merchandise planning is a systematic approach to planning, buying, and selling merchandise to maximize your return on investment (ROI) while simultaneously making merchandise available at the places, times, prices and quantities that the market demands.

How much do merchandising analysts make?

Merchandise Analyst Salaries

Job Title Salary
Best Buy Merchandise Analyst salaries – 29 salaries reported $47,421/yr
Future Shop Merchandise Analyst salaries – 3 salaries reported $46,426/yr
BC Liquor Stores Merchandise Analyst salaries – 1 salaries reported $24/hr

What makes a good merchandise planner?

The best merchandise planners are logical about predicting their customers’ needs. The more passionate they are about their product, the better they’re able to forecast the future needs and sales of their department, store or organization. And they’ll be more likely to excel in their role.

What is the process of merchandise planning?

Merchandise planning process refers to selecting, managing, and displaying products in a manner that they bring maximum turnover on a brand name. The activity seeks to meet consumer demand by making the right merchandise available to customers at the right time, place, price and quantity.

What are top 3 skills for financial analyst?

9 Top Skills for Financial Analyst

  • RESEARCH SKILL. Research is the most important part of an Analyst’s day to day job.

How do I become a strategic planning analyst?

How to Become a Strategic Planning Analyst. The qualifications you need to become a strategic planning analyst include a bachelor’s degree in business or a related field. Many employers prefer applicants with previous experience, preferably with a focus on business growth and development.

How do you do merchandise planning?

The basic components of retail merchandise planning include:

  1. Product. First and foremost, the basic component of any merchandise mix is the product.
  2. Range. This refers to the variety of merchandise that you sell.
  3. Price.
  4. Assortment.
  5. Space.
  6. Perform a post-season analysis.
  7. Forecast sales.
  8. Plan and implement the assortment.

What skills do you need to be a merchandiser?

Key skills for merchandisers

  • commercial awareness.
  • confidence.
  • able to cope with pressure.
  • teamworking skills.
  • communication skills.
  • interpersonal skills.
  • leadership skills.
  • strong numerical and analytical skills.

What is a store analyst?

A retail analyst, sometimes called a merchandising analyst, studies the financial records of a retail chain to determine its financial health and predict its future sales and revenue performance. You utilize this data to develop recommendations on increasing sales targets and profits.

What are the responsibilities of a merchandising analyst?

Allocation responsibilities include maintaining desired inventory levels and assortments, scheduling deliveries, and overseeing shipping/receiving and warehousing of merchandise.

Which is the best definition of merchandise planning?

Merchandise planning is a method of selecting, managing, purchasing, displaying, and pricing the products in a manner that brings in maximum returns on investment, value addition to the brand name by satisfying the consumer needs while avoiding the creation of excess inventory.

What kind of degree do you need to be a merchandise planner?

Inputs and maintains data in various merchandising systems. Additionally, Merchandise Planner may require a bachelor’s degree. Typically reports to a supervisor or manager. The Merchandise Planner gains exposure to some of the complex tasks within the job function.

What does the retail planning process begin with?

One of the concepts we discussed in the previous module in the merchandise planning process was forecasting sales. The retail planning process begins with a sales plan.