Fashion merchandise marketing
sets goals and objectives for retailers and manufacturers.
Fashion merchandise marketing can make trends and generate break-through styles. It incorporates everything from what is featured in a print ad, to what designers are promoted in retail store widows, and determinations on items that get marked-down in price to discontinuing items because of lackluster sales performance. Retail careers can range from fashion buyer to fashion merchandising director, promotions and display directors. Independent or contracted service providers to the industry include photographers and advertising creative and marketing strategy professionals.
Retail Planning and Buying
Retail planners and buyers are key professional positions in fashion merchandising and marketing. Planners and buyers make final selections on apparel that they believe will be strong sellers with shoppers. They often work collaboratively. For example, a planner will determine how much space inside of the store will be dedicated to sports apparel, and the buyer will use this information to select manufacturers and designs to carry within the space.
Trend Analysis
Assessing fashion trends is an important function of fashion merchandising and marketing. Every fashion retailer wants to make sure to carry apparel that customers will be looking for to be on top of the latest trends and distinguish a fad from a marketable fashion item.
For example, a high-end boutique might be first to introduce a shoe design featured on the runways of top fashion week shows. Department and lower-priced stores might then design inexpensive versions of the high-end original (sometimes called a "knock-off") to carry in their stores. Some may believe so strongly in the design trend that they will offer the product in the same season it is introduced. Others may wait until the next season to introduce the lower priced version to increase the likelihood of meeting sales goals.
Strategic Positioning
Fashion merchandise marketing incorporates the use of positioning to make the business competitive. In retail, this could mean the development of a strategic position to focus on clothing for plus size women, wedding gowns or apparel for children. The same strategic focus can apply to those who design and manufacture the garments to capture a unique or niche position, build a reputation and corner a market.
Sets Objectives for Advertising
Fashion merchandise marketing sets the goals and objectives for advertising messaging. A major department store might feature a specific line of swimsuits in the Sunday circular advertising. A hat designer might develop online advertising to target boutiques during the spring and Easter season.
Determines Promotions
The merchandising and marketing strategy directly impacts the budget allocations for in-store promotions, with the goal of promoting special items to customers during their sales season. Promotion tactics can include offering price reductions and techniques like a buy-one-get-one-free (BOGO) to assist in achieving sales goals.
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