About This Chapter
Buying Merchandise for Retail - Chapter Summary
Move through this retail merchandising chapter at your own pace to learn about the merchandise buying process. Our expert instructors show you everything you need to know about buying national brand and private-label merchandise, as well as the main components of vendor-managed inventories, merchandise sourcing and retail vendor negotiations. When you're finished with a lesson, try the accompanying self-assessment quiz to make sure you understand important retail concepts. Our instructors can answer any questions you may have, so don't hesitate to reach out. When you're finished, you should be able to:
- Compare types of retail brand alternatives
- Outline the process of purchasing national brand merchandise
- Explain how private-label merchandise is developed and sourced
- Assess the pros and cons of vendor-managed inventory
- Evaluate negotiations with retail vendors, as well as common buyer considerations
- Summarize the process of developing strategic vendor/retail relationships
- Analyze the ethical and legal considerations for merchandise sourcing
1. Retail Brand Alternatives: Types & Comparison
Consumers and retailers alike face many choices when purchasing or stocking store shelves. From national brands to private-label brands, this lesson will explore what these brands are all about as well as their advantages and disadvantages.
2. Purchasing National Brand Merchandise: Definition & Process
Ever wonder where the corner store gets its cookies from? This lesson discusses the retail process of purchasing national brand products, wholesale markets, and trade shows.
3. Private-Label Merchandise: Development & Sourcing
This lesson discusses private label merchandise and how you can make your own or find private label products to sell with your own label. Learn the benefits and the risks you'll encounter by doing so.
4. Vendor-Managed Inventory: Benefits & Drawbacks
Some businesses keep their shelves stocked with a vendor-managed inventory. Both businesses and vendors benefit from this arrangement, but things can go wrong. Learn more about the benefits and drawbacks of vendor-managed inventory.
5. Retail Vendor Negotiations & Common Buyers Considerations
This lesson is going to go over some of the considerations buyers have when negotiating with retail vendors. This includes prices, exclusivity, transportation, and more.
6. Strategic Retail/Vendor Relationships: Definition & Development Process
Want to learn more about what makes a retail and vendor relationship successful? This lesson discusses the foundations of a successful retail-vendor relationship, and the development phases that lead to a strategic partnership.
7. Considerations for Sourcing Merchandise: Legal & Ethical
Local custom and law may condone or even necessitate supplier practices frowned upon in other parts of the world. This lesson explores ways to navigate these difficult scenarios.
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Other chapters within the Business 203: Introduction to Retail Merchandising course