Sunday, September 25, 2011

Job Profile of a Retail Planner


Job Profile of Retail Planner

Broadly job of a retail planner can be classified under buying planning, stock management planning display, location and ensuring policies and procedures while doing everything as mentioned before. MFM students are  very much in demand for this kind of profile. 

Buying Planning

Planning OTB ( Open to Buy) to optimize sales and sell throughs. It also means buying and planning inventory for the season. She also has to plan the liquidaiton of old inventory before the arrival of the new product cycle. She has to plan the seasonal sale and mark downs for the product, during sale period. 


Stock Management

It includes to replenish stock levels regularly and to coordinate optimum stock is available at the store at all times. While doing that the RP has to adhere to all the comapny rules and procedures. An RP also has to identify stocks that are fast, slow and non-moving and to provide regular feedback to brands. She has to recommend price revisions whenever required looking at the movement of products. Stock turn is also one of the key parameters to check for an RP. She has to ensure that ageing standards are followed and the stock turns are maintained as per company policy. She has to track damage control and ensure that shrinkage levels are maintained in terms of manufacturing defects, customer returns, on the floor damages and transit damages. 

Display

This includes ensuring that stock display is as per planograms given by VM and buying team to make maximum use of space and store resources. 

Location

At senior levels, the job of retail planner can be to identify the locations where stores can be loacted to enhance the brand image across the country. 

Policies and Procedures

Sometimes an RP has to define and ensure effective implementation of standard operating Practices for enhanced level of customer service and satisfaction. 

Friday, September 16, 2011

Know you Merchandise- Dress Shirt

A Shirt ( also called in US as dress shirt) is a garment with a collar,sleeves with cuffs and full vertical opening with buttons or snaps ( Wikipedia).

Anatomy of Shirt

An amazing website to learn the anatomy of shirt is here. I am reproducing a part of the images from that site.



Collars: Source



Cuffs: Source


Fibers
Mens shirts are available in 100% cotton, Polyester/cotton (6.5-7.5$), 100% silk, Spandax/cotton, 100%  organic cotton, Spandex polyester and 100% polyester.  They are also available in viscose/cotton blend.  

Features of Fabrics
The USP of fabric on which they are sold at can be anti-wrinkle, anti-shrink, breathable, anti-pilling, Eco-Friendly and quick dry. 

Styles
Mostly they are available in Long sleeve and short sleeve. 

Source
The important producing contries are China, India, Bangladesh and Pakistan. 

Surface Techniques/Design Features
They can be yarn dyed, plain dyed, printed, tye-dyed, washed, embroidered (Embroidered shirt on 100% cotton  is available for 14-16$ per piece at an MOQ of 1500 pcs), garment dyed or even beaded. 

Fabrics
They are availble in solid colors, stripes or plaids. Important fabrics are broadcloth( A popular fabric 40 x 40, 133 x 72, 100% Cotton - yarn dyed Shirts available at 5-7$ at a moq of 800 pcs), poplin, dobby, twill, herringbone, flannel, valour and batik. Men's oxford is generally made of CVC ( Chief Value Cotton - 60/40 Cotton polyester), 108 x 58, 100D x 32s/2(100% Cotton)

Seasons
They are available for all four seasons. They are available in S, M, L , XL or XXL

Fits


Shirts are available in three different fits: Comfort fits: wider fits for comfort, Classic Fit: traditional fit and  Slim Fit: it sits close to the body.

You can have a look at different shirts here.

Sunday, September 11, 2011

Know Your Merchandise- Bathrobes

This is the First of the series that I plan to bring about for the benefit of students, who are preparing for entering into such industries. It would also give a brief overview of the overall category. 

These are mainly used in the hotel industry. A bathrobe is usually made from toweling or other absorbent textile, and may be donned while the wearer's body is wet, serving both as a towel and an informal garment.

The common Types are as follows:

1. Organic Bathrobes: These are made of premium range of organic cotton. These are suitable for both the genders. 

2. Terry Bathrobes: Most of the bathrobes are terry bathrobes. Made of 100% cotton these can be plain dyed and are available in various sizes such as M, L XL or XXL. Their supply price is 5-10$ FOB. These can be made of bath towel, with rectangular shape. These can be woven in jacquard if design is offered. Common yarns used are 21s, 16s and 32s. The weight varies from 380gsm to 700gsm. Sizes are normally 70cm x 140cm, 50cm x 100cm, 40cm x 60cm and 30cm x 50cm. Normally they are available in the packings of 12pcs/bag, 48pcs/carton or any other customised order. Some amazing pictures are available here and here.

3. Waffle Bathrobes. These are made of 100% cotton waffle. These are breathable and quick dry. These are available in various sizes such as S, M, L , XL or XXL. To know more about waffle weave, you can click  here

4. Dobby Bathrobes: These are made of 100% cotton, Quick dry and made of dobby fabric. The yarn is ring spun of 16s made pile for soft feel and 2x20 ring spun yarn for ground or base to give strength. Available in all sizes, they have weight from 350 to 500 GSM. These are available in many colors. Availble in 5-10$ per piece of production. These are wrinkle free, durable and colorfast. 

5. Baby Bathrobe: These are also offered in organic cotton. These can be made of very soft knitted terry. Usually they are with hood. These are also offered in 100% polyester in fleece quality. These are also availabe with contrast piping. Take a look here and here

6. Valour Bathrobe: Velour or velours is a plush, knitted fabric or textile. Velour is a knitted fabric, allowing it to stretch. It combines the stretchy properties of knits such as spandex with the rich appearance and feel of velvet. 

Styles of Bathrobes

These are available in Kimono style, Shawl collar, hooded, luxury, zipper and wrap. . 

Know more here

Market

Welspun is the largest manufacturer of Terry Towel in the country. They sold 313,000 units of Bathrobes in FYI 2010-11

You can view a complete catalog of bathrobes here. A very nice catalog is also displayed here. One size chart can be seen here.

This is an interesting article describing how hotels deal with bathrobes.

Sunday, September 4, 2011

Brand Management- Cheat Sheet

A brand is a name that creates its own connotation in the consumer’s mind. It may not create any connotation.  Companies strive to build positive connotation in the consumer’s mind.

Brand equity is a set of tangible and intangible assets linked to a brand name that either add (or subtract)  the value provided by a product to a consumer.

The set of assets consists essentially of four categories: Brand name awareness, brand loyalty, Perceived quality and brand associations.

Brand name awareness has the following attributes: recognition, recall, TOMA, Dominance. Remember high recognition is not a mark of strong brand, recall is also important. Also recognition and recall should be positive. Brand association means what the organization stands for in the consumer’s mind.

Brand Equity is from Marketing perspective, it is what marketers use to measure brand equity.

Brand identity is a unique set of association which a brand strategist aspires to create or maintain.
It has four parts:
-Brand as product
-Brand as organization
-Brand as person
-Brand as symbol

BI structure includes a core and extended identity. The core identity- the central , timeless essence of the brand is likely to be constant as the brand travels to new markets or products. The extended identity includes BI elements, organized into cohesive and meaningful groupings that provide texture and completeness.

Brand identity is not something that gets customers to buy a product or service. It should be used as a vehicle to enthuse internally.

Brand identity is the tool by which value preposition and credibility is generated.

Value proposition has four parts- Physical Benefits, emotional benefits, Self Expressive benefits and relative price. Credibility leads to purchase.

Planning for brand identity is done by Strategic Brand Analysis- which gives customer analysis, competitor’s analysis and self analysis.  It is implemented by Brand position statement ( that part of brand identity that is actively communicated to the customer), Executive communication program and tracking.

Remember
1. We Analyze by doing strategic brand analysis ( Customer Analysis, Competitors’ analysis and Self Analysis)
2. We implement it by brand position statement, executive communication program and tracking
3. We create brand identity – Unique set of association ( Brand as product, organization, person and symbol) by doing 1 and 2  which leads to value proposition( Physical, emotional, self expressive and relative price) and credibility for customer which leads to favorable response.
4. We measure 3 by measuring brand equity – Set of assets that either add or subtract value for the customer-

We measure brand name awareness (recognition, recall, TOMA, dominance), brand loyalty, perceived quality and brand associations.
We go back to 1. If needed.