Execute merchandising practices consistent with the GMP for their selected departments which includes all product assortment, pricing, merchandise presentation and promotions.
Partner with Assistant Buyers, Sales Specialists, Store Management, Sales Teams, Visual Merchandisers and the Marketing department to execute and support their approved initiatives.
Manage merchandising practices to deliver profitable increased sales, GP%, GP$ and GMROI performance
Responsible for product management by:
Manage and facilitate vendor programs for all product lines by effectively negotiating: regular costs, periodic special costs for promotions or promotional space, freight terms, payment terms, advertising agreement, rebates, stock adjustment agreement, replenishment channels, buybacks, additional vendor, participation funds, AP issues and fulfillment rates.
Establish all selling prices to be competitive in the market place consistent with the organizations price strategy outlined in the GMP and in response to market changes up and down.
Determine effective product presentation based on proper category adjacencies, proper Plan-o-gramming, maintaining set integrity, planning and facilitating resets and assorting promotional space effectively, executing merchandise planning for all incoming items, and executing exit strategies for nonperforming clearance merchandise.
Plan and collaborate with Visual Merchandisers to plan floor layouts; provide information to appropriate staff regarding in-store promotion strategies and placement of markdown goods.
Ensure effective promotions and advertising of products by collaborating with the Marketing department for the arrangement of print ads, for product placement for website, digital and social media promotional space to support the marketing message, and participate in the planning and facilitating store events.
Work with the Marketing team to create signage and in-store collateral. Provide Marketing with product information (facts, inspiration, pricing). Coordinate the content detail for all signage (new, special, markdowns) and all in-store collateral.
Provide appropriate merchandising information for Store Managers. Investigate and respond to store location issues. Coordinate communication strategies with Store Managers and operations.
Strategically plan for all trade shows and vendor site visits; provide a post planning of the trade show or vendor site visit for store implementation, develop effective strategy for incoming and exit of merchandise, and provide show recap and follow up.
Execute to meet Metrics Performance goals in key performance indicators which include but are not limited to: Sales, GP$, GP%, GMROI, and Inventory levels.
Conduct timely review of reporting and monitoring, and develop action plans from report monitoring for the following:
Monthly: Sales, GP$, GP% (evaluate sub budget GP% classes and action items), Inventory, Clearance inventory, No Sales for 12 months inventory, D-C Drivers & Divers and summarize performance and action items, GMROI report (rolling 12 months), Over Max report, Under Min report