Fashion Buying

Learn about what it takes to be a buyer, from considerations when going to the wholesale market to how to calculate markups from wholesale to retail when pricing merchandise.

 

This course involves learning the following concepts:

  • consumer demographics and psychographics to consider when planning a buying trip (know your customer),
  • buying for different kinds of retailers (small specialty stores, large department stores, off-price stores...)
  • making buying decisions,
  • the mathematics of retail buying - markups, markdowns, stock planning, making the purchase,
  • selecting wholesalers to buy from and negotiating terms.

A sampling of signments for this course include:

  • Buying Group Assignment (Buying for a mock store)
  • Reading and learning about buying strategies through Case Studies
  • Using Excel Spreadsheet to develop buying plans, figure markups....
  • Researching fashion trends and posting on a Blog

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