Fashion Merchandising is a dynamic combination of art and business. It entails planning to identify the right product mix in apt quantities, presenting it at the opportune time to the right market for the right target audience at an attractive price through impactful advertising, using attractive displays, etc. to attract customers and boost sales. Well-developed quantitative skills to identify the relationship between sales and stock figures along with an ability to understand trends and predict consumer wants and behavior in order to maximize sales and hence revenues is a key requirement for a fashion merchandiser.
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Merchandising also consists of varied activities such as special offers, display techniques, free samples, on-spot demonstration, shelf-talkers, and other point-of-sale methods. The season, culture, and climate have a strong bearing on the merchandising plan. Besides this Merchandising plan is also dependent on the choice of retailer, available space along the type of merchandise being sold. While usually, the fashion merchandisers work with clothing and apparel for both men and women, but now they also create and sell accessories, cosmetics, jewelry, and shoes.
At the manufacturing level, fashion merchandisers work directly with fashion designers and are involved in:
Evaluating ways to make the designs not only affordable but also desirable to consumers
Forecasting the popularity of clothing shapes, materials, fabrics, patterns, textures, and colors
Sizes and Quantity estimation
Production method
Determining the pricing strategy for selling to retailers and end customers
Promotion activities
At the retail level, fashion merchandisers are involved in:
Researching and forecasting trends that will be preferred by your target demographics
Evaluating factors like brand image, industry, Culture, regional events, past sales, and even the economy that will influence the target audience and hence sales
Analysing data about cost, sizes, color, and style that have a bearing on the purchase decision of your customer
Pricing the product to achieve sales and hence revenues
Basis the above analysis, fashion merchandiser takes a decision regarding final purchasing and stocking besides making a sales forecast. He also determines the product display within the stores as well as online. Then he decides on ways to promote the products to garner the desired profits.
Over the years, merchandising as a discipline has grown. It has become much more complex transcending varied functions in the fashion industry.
In order to facilitate students to take advantage of this lucrative profession, lots of colleges are offering Fashion Business course that provides competencies in business management and merchandising in the fashion industry. In order to select the ideal course, students need to deliberate on:
The course must be industry-oriented and provide a broad spectrum of knowledge about the lifestyle industry besides domestic and global fashion.
Exposure through participation in various competitions, live projects, interaction with industry experts and alumni, internships, etc.
Knowledge of latest software, nuances about researching trends and data analysis
Certification accredited and recognised at both national as well as international level.
Comprehensive placement program must be offered by the college.
