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:
A merchandising analyst streamlines the flow of merchandise through a retail outlet by providing the organization with analysis, allocation, and guidance.
Trend Analysis:
Analysis responsibilities include monitoring store category sales, supervising physical inventory, identifying trends, and monitoring the timing and scope of seasonal changes,
Allocate Inventory:
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.
Provide Guidance:
The retail store or organization also looks to the merchandising analyst to provide guidance about selling patterns, the timing of future purchases, and purchasing philosophies.
Experience Required:
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.
Education:
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:
There is a salary range of $30,000 - $90,000 for merchandising analysts. The size and sales volume of the retail operation is a key factor in determining compensation, as well as the scope of responsibilities within the organization. A successful merchandising analyst will often be given senior advisory functions, and receive additional compensation that corresponds with the added responsibilities. The position usually comes with a full benefits package, which often includes merchandise discounts.
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