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Stone Mountain - GOA 2012

Ultimate Reality Show....My Markdown Rack

Dan Mann

on 1 January 2015

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Transcript of Stone Mountain - GOA 2012

"This buying thing is
harder than it looks" Lookout Mountain.....my vision seems
a little foggy up here! What's your merchandising vision? Is it being communicated? Execution = Vision? Does Father Always Know Best?
Creating a collaborative environment. .305 BA Buying / Merchandising is about a batting average! Are you a :
1) Partner?
2) Monday Morning Quarterback? Input vs. Buying by Committee When in doubt...... or....vendors I would
like to kill!! What are you buying...... A product Or a personality? Remind yourself:
THEY WORK FOR YOU! Have they said "NO"
to you recently? Have you tapped into their knowledge? Say what you mean
Mean what you say Left Brain vs Right Brain
Science vs Art Some merchants:
~ Creative
~ Selectors
~ Instinctive Some merchants:
~ Numbers driven
~ Data is everything The very good
merchants do both Great managers of
merchants manage
accordingly Buyer vs Merchandise Manager Buyer Mentality:
"I can't live without this" Merchandise managers mentality:
"Why do we need this?" A healthy relationship Merchandise Manager: "I trust my buyer" Buyer: "There's a checkbook, I can't have everything" Merchandising situps....
strengthening the core What should I never
be without? How do I make it happen? Stay focused! Vendor participation Testing, Testing .....1,2,3 Are you constantly trying new things? Trust your gut.....
in small doses! Being seen as a
product leader = Good Thing Creates sales person excitement!
Good buyer = Good seller You cannot sell steak without a little sizzle! Ultimate Reality Show...."my markdown rack" No report speaks as truthfully and as loudly
as a markdown rack Styles?
Sizes? Markdowns are generally about inventory management....not sales From trade show to sales floor "You look so much different in person" Begin with the
end in mind Think about making a statement:
1. Vendor
2. Category Initial Merchandising should be merchant driven....not store driven Takeaways Have a vision and a point
of view as a foundation
and road map. Retail is the ultimate team sport.
Buyers should positively interact
with every level and member of
the organization. Process with conviction.
If your focused and know
your customer and business,
victories will outweigh defeats Have a measurement of success....if you
can't measure it, you can't maximize it. Thank You www.manngroup.net Here is what I am sure
of and know to be true:
If you have a process, a discipline, a focus and you prepare and execute a strategy everyone has bought
into, you will make better buys and be more profitable! X Knock it out!
Full transcript