Retail Fashion Merchandise Assortment Planning and Trading by Nesbitt Charles

Author:Nesbitt, Charles [Nesbitt, Charles]
Language: eng
Format: epub
Publisher: UNKNOWN
Published: 2017-03-06T16:00:00+00:00

Style and shape proportions

The styles that will make up the range structure are dictated by history, the strategy guidelines and direction provided by the design or trend teams.

If one considers the thought process of a customer when a selection is being made, the first feature that she will be attracted to is the style. If the style does not meet the required taste level it will be ignored. The criteria that will influence this choice may not necessarily be the level of fashionability but also the practicality of the garment in meeting the required functionality, examples of which are sleeve lengths, belted or unbelted waists, lengths, neckline or any other feature that will allow the customer to feel comfortable and confident to wear.

Multiple choices form the basis of range plan structure and ensure that all customer preferences are catered for. Another need that has to be provided for is the availability of styling and colours that can be easily coordinated with other product styles within the same or other departments.

Consideration also needs to be given to the cross co-ordination of fashionable items being supported by core product. An example would be a fashion blouse including the core shades in the design or print that would go happily with a basic core skirt in complimentary fabric types. The implementation of this strategy is important as too much deviation from the core pillars will reduce the product relevance and could result in a deterioration of market penetration.

Pricing structure

It is absolutely essential to consider the structure or architecture of pricing across the range in order that a consistent balance is maintained between the good value, mid and luxury price points. Added to this is the controlling of the price movement from one season to the next. The rate of increases or decreases need to be measured on a like for like basis whereby the change in price of identical products is compared to an acceptable overall rate such as the consumer price index while still maintaining the margin targets. Other products should also represent good value in comparison to similar products in the market place.

The philosophy and pricing strategy of the retailer will dictate the balance of price groups dependent on the customer segments that they serve. Probable examples would be where a discount value chain will have about ninety percent of product in the low value band while the middle price type of retailer will have possibly forty percent low price goods with the bulk of products falling into the mid-price range at about fifty five percent. Top end luxury retailers will commonly have in excess of ninety percent of prices falling in the high price range.

A pitfall that needs to be avoided is a scenario where critical price points are maintained through harsh negotiation tactics for more than one or two seasons as it could happen that it will eventually reach a point that without an increase it may become no longer viable for the supplier to manufacture. A decision to

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