Retail Merchandising Analysts help in maximizing the potential of retail stores to realize more profits.
They analyze inventory risks and opportunities, and implement strategies for allocating inventory so that merchandise flow efficiently through the store and generate more sales.
Nature of Work
Retail merchandising analysts monitor category sales of the store, supervise physical inventory of merchandise, identify and forecast future trends, and check the impact of seasonal changes on sales. They are responsible for maintaining optimum levels of inventory, including shipping, deliveries and warehousing of goods. They coordinate with suppliers and manufacturers in order to develop effective strategies for supplying merchandise to the store so that stock outs are minimized and inventory turns are maximized. Analysts provide assistance and direction regarding sales pattern and future purchasing parameters. They help in getting new clients and in supporting current customers. They are involved in reviewing requirements aired by customers, including their business processes and specifications, and in making relevant recommendations to resolve issues and problems. To help achieve business objectives, retail merchandising analysts work and coordinate directly with clients in order to identify areas where improvements must be implemented by enhancing business systems or changing business processes. They may also be involved in providing training for other personnel.
Candidates for retail merchandising analyst position must have a bachelor’s degree in Economics, Accounting or Finance. They should be able to multitask and have a high level of project management skills. They should be customer service oriented, and able to interact with all kinds of clients. They should also be knowledgeable about the processes involved in the retail business, and have wide experience in data analysis and merchandising. They should have in dept knowledge of computer programs such as word processor, database management and spreadsheets. Analysts should have excellent verbal and written communication skills, as well as strong problem-solving and organization skills.