The Fundamentals of Merchandising Essay example
The past decade has witnessed sea change in the world of retail, of which increasing competition is just one aspect. New and emerging technologies and customers fragmentation has made it even more difficult for retailers to retain consumers who are loyal to their stores. Walters and Hanharan have identified four key elements of the strategic direction that are retailer may take, they are: * Merchandise strategy; * Communications strategy; * Customer service strategy; and * Format and environment strategy.
Among all the elements of retail strategy, that of merchandising is becoming increasingly important, eventually determining the loyalty that a customer may have for a retail store. Over …show more content…
Associate or Junior buyers usually buy specific items for a department or division of a firm which is too