Daily Life of a “Planner” in Retail World
Planner at a retail enterprise is responsible for identifying, selecting and purchasing the stock that is sold in stores. In some enterprises, they are called Procurement specialists.
On a daily basis, a Buyer deals with the following tasks and issues:
- Monitors the feedback from customers and reacts to the changes in demand, latest market trends and competitor’s prices
- Brainstorms and designs promotional campaigns alongside the marketing department and visual merchandisers
- Tracks the inventory levels/stock movements and sales quotas to decide whether to drop a line or expand it
- Predicts future sales based on past sales trends and consumer buying patterns
- Cooperates with the Marketing and Buying departments to ensure that they reach their weekly/monthly/annual sales goals
Daily Challenge of a “Planner” in Retail World to grow the product assortment & sales
(A) Increase Product Assortment
- Gain a competitive advantage from a wider selection of goods and products that inspire and attract customers
- Offer a good mix of quality, affordability, and sustainability
- Measure the effectiveness of their current product catalog in real-time and finding out what’s missing from the product mix
- Bring operational efficiencies across the product chain.
(B) Consistent Customer Experience
- Create a consistent customer experience in-store, across different channels of marketplaces, ecommerce website, mobile, desktop and across different business regions.
- Customize product attributes and information as per the channel and segmentation of customers.
(C) Consistent Digital Assets
- Manage uniform photos and videos of products across different channels and regions.
For (A) and (B) –
Product Information Management (PIM) solution enables consolidation of product information across multiple sources and gives enterprises a competitive advantage by enriching product information and providing a seamless experience across omnichannel and in-store.
Read more about the PIM solution and how Riversand is solving it.
For (C) –
Digital Asset Management Solution supports Buyers with the production of digital assets to improve the brand consistency, reduces the cost of creating product content and increases the odds of a successful marketing campaign.
Read more about the Digital Asset Management solution and how Riversand is solving it.