Retail Fashion Arithmetic
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The book outlines the fundamental principles and mechanisms that are applied in fashion retailing during the creation of ranges through the successful process of understanding the arithmetic of retail. It is for this reason that a successful and sustainable business is most likely to be achieved if all the the team members develop the business acumen that deliver those critical measures. It is without doubt that with such knowledge there is a better common understanding of the key business objectives and the interaction of all team players is thereby aligned. The volume will be particularly beneficial to students and those who are maybe considering a career in the industry. Individuals who are already part of the fashion buying and merchandising community will find this book to be invaluable in that it provides a complete simplified overview of all the integral activities and roles that go to make up the topic and thereby will provide a broader insight into their own career
Charles Nesbitt
CHARLES NESBITT graduated with a degree in Economics specialising in Business Economics from Stellenbosch University, South Africa. He spent thirty five years at a leading retailer in Southern Africa where he was exposed to all the key disciplines of retailing during this period.
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Retail Fashion Arithmetic - Charles Nesbitt
Retail Fashion Arithmetic
Charles Nesbitt
Copyright ©2016 by Charles Nesbitt. All rights reserved.
Copyright and ISBN page
This ebook is licensed for your personal use only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to your favorite ebook retailer and purchase your own copy. Thank you for respecting the hard work of this author.
Also by Charles Nesbitt
FUNDAMENTALS FOR SUCCESSFUL AND SUSTAINABLE FASHION BUYING AND MERCHANDISING
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FUNDAMENTALS FOR FASHION RETAIL STRATEGY PLANNING AND IMPLEMENTATION
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FUNDAMENTALS FOR FASHION RETAIL ARITHMETIC, ASSORTMENT PLANNING AND TRADING
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FUNDAMENTALS OF FASHION RETAIL, TECHNOLOGY, MANUFACTURING AND SUPPLIER MANAGEMENT
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THE COMPLETE JOURNAL OF FASHION RETAIL BUYING AND MERCHANDISING
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RETAIL FASHION PROCUREMENT TEAM ROLES AND PROCESSES
Table of Contents
PREFACE
INTRODUCTION
Retailing
The retail players
THE PROCUREMENT TEAM
Designers
Buyers
Merchandisers
Technology
BUYING GROUP ORGANISATION
MERCHANDISE ARITHMETIC
Key performance indicators
Business acumen
Sales
Growth percentages
Contribution percentage
Markdowns
Markup percentage
Margins
Buying margin
Sales margin
Weighted retail selling prices
Inflation
Price movement
Monetary value in relation to unit volume
Times cover
Stock annual turn
Sell off percentage
Average per store
Shrinkage percentage
Return on inventory investment (ROII)
Interdependency of performance indicators
Profit
Gross profit
Profit before tax or net profit
Profit per square metre
Return on sales
Break even analysis
CONCLUSION
PREFACE
The process of buying and selling in some form or other of goods has been with us since time immemorial. Often when one stands in bewilderment in an elegant shopping mall and wonder how all the stores are able to effectively seduce the many shoppers trawling the wide corridors to readily part with their well-earned money while at the same time enabling them to possibly enjoy a wonderful social experience.
The plan of offering goods to the potential customer is a complicated one and is a science that involves many players whose individual contributions slot seamlessly together and are so perfectly coordinated that it provides the perception that it is the result of one individual concerted effort.
It will be illustrated as to how the relationships of the major functions that intertwine from the conceptualisation of a product through to the presentation of a finished garment to the potential customer and in doing this demonstrates how the key areas such as buying, merchandising, technology, production, design, logistics and selling each with their unique specialised operations manage to achieve this.
The book endeavours to try and outline the basic key principles and mechanisms by which this happens and should be helpful to students, people in retailing and those who are maybe considering a career in the industry. For those who already are part of the fashion buying and merchandising community this book will be beneficial in that it provides a complete simplified overview of all the integral activities and roles that go to make up the topic and thereby will provide a broader insight into their own career.
The material of the book, other than that specifically referenced is the result of the author’s own exposure to the subject during a career spanning thirty five years at a major retail organisation in Southern Africa, the support from colleagues, mentors, interaction with suppliers and own research. There has been some cross referencing to