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15: Fashion in Review
How does the merchandising cycle move fashion forward?
Why might a buyer for a small shop know customer preferences better than a buyer for a large retail firm?
What important information do past sales records not show?
Why have want books and want slips been important for upscale retailers?
Why can vendors be good sources of product information?
In the planning process, if buyers look at merchandise in higher-priced and lower-priced stores, what conclusions might they draw in each case?
What is meant by “working the inventory harder”?
Since retail planning is a forecast for the future, what factors must be anticipated?
How are stock turnover and the stock-to-sales ratio related to each other and to sales?
In general, what is a balanced assortment?
Why are buying levels more predictable for a basic stock plan than for a model stock plan?
Describe how most retailers try to adjust the breadth and depth of their merchandise assortment from the early season, to peak selling maximum time, to late in the selling season.
What is an advantage for the producer and an advantage for the retailer of a consignment arrangement?
How does advance buying benefit both the retailer and the manufacturer?
Why has accurate inventory management increased in importance?
List four advantages of buying directly from producers without intermediaries.
Describe three vendor policies that might discourage a retailer from buying from them.
How do retail buyers discover new vendors?
What are two advantages and two disadvantages of stocking national brands?
What are U.S. manufacturers doing to encourage retailers to source domestically?
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