How a Bachelor-level Retail Merchandise Management Program Can Prepare You
September 13, 2012
•IADT Orlando, IADT General, Retail Merchandise Management
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Graduating with a degree in management can lead to career opportunities in retail merchandise management – but you may need additional training specific to the retail industry. You might choose to opt instead for a bachelor-level retail merchandise management program.
One thing you can learn in a retail merchandise management program is how to keep the store stocked with needed inventory. Many retailers rely on computer systems that keep track of sales and automatically order inventory based on this data. However, merchandising managers are also needed to manually scrutinize inventory and correct the ordered quantities if needed. Because computer systems are flawed and susceptible to malfunctioning, retail merchandise managers are instructed in the importance of being attuned to the store's selling trends and ensuring that these systems order the correct items.
Retail merchandise managers are also relied upon to identify new items to sell in the store. New inventory can draw customers to the store and pique their interest about what else the store has to offer. This proves especially vital during important retail seasons, including Christmas and summer seasonal sales. Making seasonal items available during these times helps boost a store's profit. It also helps generate sales of existing merchandise, particularly if the seasonal items can be paired with existing merchandise. For example, a store might advertise its new selection of Christmas lighting while at the same time pointing out to the customer the availability of light bulbs and power strips that are already sold in the store.
Managers in this position also have the responsibility of keeping track of sales and presenting this information to corporate leaders when necessary. Corporate management relies upon managers in lower positions to maintain the day-to-day operations of the retailer. However, from time to time, they may call upon these managers to present data and explain why or why not certain actions were taken. Merchandising managers are taught to provide this information when necessary to corporate bosses.