What is fashion merchandising? Have you ever come across this aspect of the business, and wanted to know more? If so, we’ll talk all about it here today. But first, let’s see what ‘merchandising’ entails in itself.
Merchandising is a rather dynamic notion that varies greatly by the business. In simple terms, it refers to any action carried out by the merchandiser to stimulate the purchase of their merchandise. Merchandisers are responsible for what happens to the product from the time it is delivered to the outlet until it is purchased by the ultimate consumer.
1. Chief Responsibility of Merchandise Consultant
One of the chief responsibilities of a merchandiser is to develop and maintain solid relationships with suppliers, wholesalers, and vendors. These relationships are essential because it is through them that a merchandiser can acquire access to products.
2. Functions of Merchandise Consultant
There are many functions and responsibilities involved in merchandising including determining which products to buy, transporting the goods from vendors to wholesalers or other distribution points; arranging for the display of items in retail outlets; securing adequate supplies of goods to prevent stockouts (sales); and training and motivating sales personnel.
A successful merchandiser needs to establish and maintain solid relationships with the store’s customers, and this requires knowledge of a great deal of information about their characteristics, needs, wants, preferences, habits, and lifestyles.
Merchandisers closely working with the fashion industry are called fashion merchandisers. Fashion merchandising and fashion merchandising careers are what we’ll discuss here today.
3. What is Fashion Merchandising?
Latest fashion trends do not emerge suddenly; they require research and careful attention, much like fashion development and production. Through purposeful planning, producing, and presenting, “shackets” and boiler suits, bucket hats, and baguette bags entered the global fashion awareness.
An expensive fashion ecosystem consists of everything from how trends originate to what proportion of pieces are created and when and where they are marketed. This procedure may be a discipline to the greatest extent possible since it is an art form which is known as – fashion merchandising.
If asked what is fashion merchandising it can be defined as the strategy that goes into marketing and exhibiting the most relevant products at the right time, in the right place, in just enough volume, and at the right price while following the latest fashion trends.
5. What Does a Fashion Merchandiser Do?
Fashion merchandising requires efficient and rigorous planning based on the most recent fashion trends, as well as careful coordination between customers and manufacturers, visual merchandisers, store managers, marketing specialists, and consultants. Account organization, warehousing, marketing, the planned layout of store displays and visual displays, and the detection of consumer trends are all significant duties to consider.
6. History of Fashion Merchandising
Over the ages, fashion retail merchandising has evolved significantly. One of the most significant changes in the business has been the emphasis placed on customer needs. Manufacturers and dealers did not emphasize the legitimate demands and requirements of prospective customers in the olden days; instead, they sought to persuade purchasers of the significance of their wares with little regard for the actual quality or applicability of their commodities.
Marketplaces and boutiques of the past have given way to departmental shops and shopping malls that operate only to meet the requirements of consumers. Customers have evolved into the most important factor in fashion retailing; their demands affect the sorts of items made and sold across the board. The consumer experience is also adjusted to consumer preferences and aspirations, enabling buying in the contemporary day more personalized.
7. Functions of a Successful Fashion Merchandiser
Simply put, a successful fashion merchandising involves the following roles and responsibilities:
- Forecasting fashion trends that influence manufacturing and production
- Establishing retail prices for retail stores and department stores
- Developing marketing and promotional campaigns to stimulate store sales forecasts
- Making purchases of fashion items and collections of design firms to sell
- Creating and planning commercials for fashion designers or fashion brand
- To create attractive product displays while using visual merchandising in the best form to enhance fashion marketing both on offline and online platforms
- To study customer demographics to get a better understanding of the consumer demands of the target audience
- Going to fashion and trade shows to gain experience in target markets
- Selecting appropriate merchandise to stock i.e. stocking those products consumers demand
- To negotiate with textile manufacturers and textile companies
8. Skills Required in Fashion Merchandising
The skills which are desirable in a fashion merchandiser professional portfolio are the following :
- Analytical skills and numerical skills: Fashion merchandisers research historical, present, and future trends. They also have the numerical ability to analyze data and estimate revenue by making financial plans while keeping in mind the current fashion trends.
- Interpersonal skills: Skilled professionals have the power to persuade consumers to buy their items. They can recognize and explain the attractiveness of a product.
- Communication skills: Fashion merchandisers utilize communication and presentation skills to persuade clients that a certain brand is necessary. They excel at delivering information in minute detail.
- Creative skills: Designers, materials, and styles are all used by fashion merchandisers. They can identify distinctive and fashionable things and have the imagination to convey their idea for these items to customers by creating attractive displays.
- Decision-making ability: Fashion merchandisers choose and extensively advertise things that are likely to be popular. Their decisions might have an impact on the success of a brand.
- Attention to detail: Experienced professionals can see minor nuances that can make or break a design. Shades, fabrics, patterns, and trends are all important to them.
9. Job Requirement for Fashion Merchandising
The prerequisites to become a fashion merchandiser are comparable to those for any other profession, including a degree in fashion and some work experience in fashion merchandising through internships. The following are the standard criteria for becoming a fashion merchandiser:
9.1) Having a Bachelor’s Degree in Fashion
Organizations in the fashion industry search for applicants who have a bachelor’s degree in fashion merchandising or fashion design when recruiting. These are four-year undergraduate degree programs that offer training and fashion expertise, as well as a variety of other talents such as –
- Fashion forecasting and study of consumer behavior
- Business management and brand management
- Calculating sales estimates while monitoring sales
- Calculation of appropriate retail prices
- Visual merchandising
- Retail Management at a retail store
Such fashion degrees can help increase job prospects. While apart from a fashion degree or degree in fashion merchandising, fashion companies and manufacturing companies also look into candidates with certificate programs in fashion. While other than degree programs they can also earn an associate degree in fashion merchandising.
9.2) Work Experience
Candidates who have work experience in fashion merchandising are preferred who have completed internships during or after their education. When interns assist fashion companies they can develop various skills and also get a better understanding of how fashion merchandisers work. They can get experience in retail management by working in retail stores. Most universities have career centers that help students acquire internships.
9.3) Higher Education
Candidates who love fashion can further pursue higher education by enrolling in advanced degrees to further their careers which can help them specialize in various aspects such as brand management, marketing, and design. Someone who has a master’s degree shall be a preferred candidate for higher-level positions in fashion merchandising.
9.4) Professional Portfolio
Entrants for fashion merchandiser positions frequently offer a professional portfolio of their work. It might include images of their exhibits, brands they’ve marketed, their thoughts on trends in the target market, or a narrative of their expertise. The portfolio’s purpose is to demonstrate the applicant’s creativity and analytical abilities. It might also demonstrate that the candidate is aware of current fashions.
10. Related Careers to Fashion Merchandising
10.1) Retail Buyers or Fashion Buyers
Retail buyers or fashion buyers who make purchasing strategies, collaborate with companies, investigate trends at fashion and trade exhibitions, and acquire merchandise supplies. Such fashion merchandisers work in the retail industry.
10.2) Visual Merchandisers
Visual merchandisers are those who decide how things are exhibited in a physical and/or eCommerce marketplace to encourage people to buy them.
10.3) Store Manager
Store managers who recruit, teach, and oversee staff whilst keeping a watchful watch on sales forecasts.
10.4) Account Managers
Account managers that monitor brand and retailer relationships with companies.
10.5) Manager at Fashion Shows
A candidate being a fashion merchandiser can become a manager for fashion shows where they help arrange the stage area and displays while keeping up with the market trends. Such fashion merchandisers work either for fashion designers or for fashion brands.
The above mentioned are a few of the most popular related careers for a fashion merchandiser. With such a wide variety of options to choose from, candidates may choose the career that best suits their personal interests.
11. Salary of Fashion Merchandisers
The average annual salary of a fashion merchandiser adds up to $43,000. This value varies according to the individual’s years of experience, employment, and location. Because the fashion sectors are more popular in certain areas, jobs in New York City and Los Angeles, for example, frequently pay greater wages. Fashion merchandisers might also find work abroad or be self-employed.
12. Job Outlook for Fashion Merchandisers
Job possibilities for fashion designers, including fashion merchandisers, are expected to remain stable until 2030. The majority of employment opportunities during that time period are expected to be caused by specialists moving to new industries or quitting the labor market completely, according to research conducted by the Bureau of Labor Statistics. (U.S. BUREAU OF LABOR STATISTICS)
