Retail Merchandising Analyst:
A retail merchandising analyst helps maximize the profit potential for a retail store or retail chain. By analyzing inventory risks and opportunities, and implementing inventory allocation strategies, the merchandising analyst improves cash flow and increases profit margins.
Key Responsibilities of a Merchandising Analyst:
A merchandising analyst streamlines the flow of merchandise through a retail outlet by providing the organization with analysis, allocation, and guidance.
Trend Analysis Responsibilities of a Merchandising Analyst:
Analysis responsibilities include monitoring store category sales, supervising physical inventory, identifying trends, and monitoring the timing and scope of seasonal changes,
Inventory Allocation Responsibilities of a Merchandising Analyst:
Allocation responsibilities include maintaining desired inventory levels and assortments, scheduling deliveries, and overseeing shipping/receiving and warehousing of merchandise. Working directly with suppliers, merchandising analysts develop supply strategies that will minimize stockouts while maximizing inventory turns.
Management Guidance Responsibilities of a Merchandising Analyst:
The retail store owners and senior managers also looks to the merchandising analyst to provide guidance about selling patterns, the timing of future purchases, and purchasing philosophies.
Experience Required for Merchandising Analyst Candidates:
A blend of merchandising and data analysis experience are desirable for a merchandising analyst. Significant analytical experience and computer proficiency with programs like MS Excel and/or Access are essential. Strong written and verbal communication skills are also necessary. Organization, creative problem-solving, and a continuous improvement mentality are key qualities for success in this career.
Educational Requirements for a Merchandising Analyst:
A bachelor’s degree in Finance, Accounting, or Economics is preferred. Other degrees or no degree at all are sometimes acceptable with a combination of retail, buying, and allocation experience. A master’s degree is a plus, and may be a prerequisite, depending on the size and scope of the retail operation.
Compensation for Merchandising Analysts: