What is Merchandising?
Merchandising came from the word merchandise which means products and goods to be bought or sold. Apparel or garments merchandising is the sourcing, costing or pricing, sampling, development of garment, marketing and at last sell the garment.
- The practice of planning and promotion of sales of goods.
- To bridge the activities between customer and supplier/manufacturer.
- Merchandising means buying and selling commodities for a profit.
- The activity of promoting the sale of goods b by their representation in retail market.
- The promotion and planning of sales by representing a product to the right market at the proper time with the help of attractive displays and skillful advertising.
- Apparel merchandising contains development, sourcing of production, procurement of raw materials, conceptualization, and delivery of apparel products.
Types of Merchandising
Retail merchandising
Retail merchandising contains the activities that are related to the direct selling of services or products to the consumers or users.
Functions of Retail Merchandising
- Communication (Consumer to Manufacturing & Vice Versa).
- Create Demands
- Buying / Sourcing
- Assemble goods from different suppliers & Whole sellers.
- Keep ready stocks and monitor stocks
- Undertake sales promotion activities
Export merchandising
Export Merchandising can be termed as all the activities and planning that is involved from the buyer communication to order receiving and till the shipment or execution of any order. So, export merchandising contains communication, sampling, lab dips, size set, cut to pack and shipment follow-up. Execution of order should be by fulfilling the following factors (Six Rights):
- Right Merchandise
- Right Place
- Right Time
- Right Quantity
- Right Price
- Right Promotion
Visual Merchandising
Visual Merchandising is a process or profession to display the merchandise by the development of flour plans and three-dimensional display that can be seen by customers outside or inside the store in order to maximize the sales.
In visual merchandising in order to highlight benefits and features, both services or products can be displayed. In order to maximize sales, display should be eye catching so that it can grab customers attention. There are certain important elements of visual merchandising if we keep in mind while developing display can help in maximizing sales.
Digital Merchandising
Digital Merchandising is a process that involves all the activities and promotion in order to sell your products online. It is often called as ecommerce or online merchandising.
Digital Merchandising contains all the activities from an eye-catching store development to selling of ecommerce products using certain marketing strategies.
