Course details
The need for a strategic, rather than reactionary approach to retail buying is well established. The need for Buyers to change the way they do things is not. Buyers need to understand their company strategy, translate it into actionable points for theirs area of responsibility and then consistently execute those points well. Strategic Retail Buying is designed to provide participants with the skills neessary to respond quickly to the rapidly changing retail landscape and the even more rapidly changing retail consumer.
OBJECTIVES
After completion, participants will be able to:
- Identify the global retail trends that are impacting their business
- Understand how to manage the introduction of innovative product into their business
- Define their target market with clarify and precision
- Manage out of stocks proactively
- Construct meaningful retail prices
COURSE CONTENT
Retail Market Overview
- Delievering the Retail Offer - the Role and Nature of Strategy
- The elements of strategic planning
- Retail Evolution and Reinvention
- Define Your Market
What is Happening in Retail?
- Global Retail Trends
- Introducing innovation
- Making Mistakes
The Changing Consumer
- Consumer Segmentation
- Shopping mindsets
- The New Segmentation for the Future
Buying Strategically
- Define your Brand
- Consumer Touch points
- Category Management and Assortment Planning
- Strategic Out of Stocks
- Pricing Issues
WHO SHOULD ATTEND
This course is for buyers, trainee buyers and those in retail who are responsible for selecting the product that is sold by the retailer. Wholesalers and Agents would also benefit from understanding how better to work with retailers to grow the total market.
Updated on 08 November, 2015Course Location
About The Retail Academy Of Singapore
The science and arts of retailing as a business have advanced over the years. Changing customer preferences, business innovations, globalisation, information technology and now, raising productivity, have pushed the boundaries of retail management. To develop leadership capabilities, retail executives have to learn more and faster than before. A formal grounding in retail management is essential for any retail executive; and, continuous professional development is a must for the contemporary retail manager as well as the business owner. A key focus of the Retail Academy is to develop leaders at middle and senior levels of the retail organisation. In a highly competitive global marketplace, retailers need leaders with higher education, deeper insights of the business and wider accessibility to networks.
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