Read the article “Five Things to Know About Discounts This Holiday Season” article from the module “Reading and Resources” section. LINK: https://nrf.com/blog/holiday-discounts-will-win-shoppers
As a buyer, you are responsible for increasing sales and securing the best cost on product while meeting your gross margin plan. During the holiday season, the pressure for retailers to balance consumer wants and needs with profit becomes increasingly difficult.
For this discussion, think about what you would do in different situations and discuss the following in your initial post:
- What internal and external factors may influence sales in season for a buyer?
- If a buyer is not meeting their seasonal sales plan, gross margin, or turn plan, what strategies can be implemented to turn the business around? Be specific on the strategies you would implement. Currently, you are operating on your CMU plan of 68.0%.
- Open-to-buy may impact your replenishment on hot holiday items. What effect will not meeting sales plan have on your open-to-buy? What will you need to do to increase your open-to-buy?