R. Patrick Cash Management of Retail Buying

ISBN 13: 9780471723257

Management of Retail Buying

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Retail buying covers broad areas such as organization of retail establishments, distribution, roles of buying groups, planning and control, choosing vendors, negotiation, pricing, and selling of goods and services to the consumer. This text offers detailed and up-to-date coverage of retail buying, promoting smart decision making in today's complex global marketplace.

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From the Back Cover:

"The end objective of buying and merchandising is to achieve sales and gross margin objectives through effective merchandise management of a department or group of departments."—from Management of Retail Buying, Third Edition

There is more to retail buying than simply forecasting consumer demand. The successful buyer employs a complex constellation of skill, art, and careful study to plan and manage the flow of merchandise from the wholesaler or marketer to the consumer. This book contains the combined wisdom, knowledge, and hard-won savvy of three of the world's foremost authorities on managing retail buying, each of whom brought a lifetime of experience to the creation of this third edition of the most important book in every retail buyer's library. This comprehensive volume covers every aspect of retail buying, from targeting desired consumers and purchasing goods tailored to their tastes and needs, to negotiating with vendors, managing inventory, and using computers to expedite the buying process.

Management of Retail Buying is organized into three parts: The Buying Process, Planning and Managing Merchandise Assortments, and Where and How to Buy. Part I features an overview of the buyer's milieu; a look at how the buying process can be organized and controlled; and in-depth descriptions of the several types of buying groups, how they function, and their similarities and differences. Part II focuses on the keys to understanding the consumer, forecasting demand, and using that forecast as a basis for selecting merchandise. Because retailers of staple goods face a very different set of objectives and problems from retailers of fashion and seasonal merchandise, separate chapters are devoted to planning and control of assortments in these different types of establishments. The book's final section examines the world of suppliers, vendors, price negotiations, order placement, special services from vendors, and actual acquisition of the merchandise. The authors provide authoritative and timeless advice on competitive strategies and tactics, foreign buying, controlling the logistical factors that lie between the purchase of goods and their delivery to the point of sale, and much more.

Whether you're a seasoned retail veteran or a student or novice hoping to make retailing your life's work, Management of Retail Buying, Third Edition is destined to become the most highly prized volume on your bookshelf.

About the authors

R. PATRICK CASH was an Adjunct Professor of Retail Marketing at Kean College and the former Director of the Merchandising Division of the NRMA (now the NRF).

About the Author:

R. PATRICK CASH was an Adjunct Professor of Retail Marketing at Kean College and the former Director of the Merchandising Division of the NRMA (now the NRF).

JOHN W. WINGATE taught retailing at New York University and was Chairman of the Department of Business Administration of Baruch College. He also founded and was the editor of NYU's Journal of Retailing.

JOSEPH S. FRIEDLANDER was a retail consultant and partner with Stern Associates. He also held the positions of General Merchandise Manager and Merchandise Controller at Abraham & Strauss. He taught marketing and retailing at Baruch College and New York University.

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