What is a Merchandise Executive doing? Job description and responsibilities
What does a Merchandise Executive do?
The Merchandise Executive is responsible for overseeing the planning, development, and execution of merchandise strategies to drive sales and profitability. Reporting to the Merchandise Manager, this role involves analyzing market trends, managing inventory levels, and collaborating with cross-functional teams to ensure effective product assortment and pricing strategies. The Merchandise Executive will play a crucial role in driving the company's merchandising efforts and achieving business objectives.
Responsibilities of Merchandise Executive
• Develop and implement merchandise strategies to drive sales and achieve company goals.
• Conduct market research and analysis to identify trends, customer preferences, and competitor activities.
• Collaborate with cross-functional teams such as marketing, sales, and product development to ensure effective merchandise planning and execution.
• Manage the entire product lifecycle, including assortment planning, product selection, pricing, and inventory management.
• Monitor sales performance and analyze data to identify opportunities for improvement and optimize merchandise assortment.
• Negotiate and maintain relationships with suppliers and vendors to ensure timely delivery of merchandise and favorable terms.
• Create and manage merchandise budgets, forecasting sales, and monitoring expenses to maximize profitability.
• Develop and execute promotional strategies and campaigns to drive customer engagement and increase sales.
• Monitor and analyze customer feedback and market trends to identify new product opportunities and improve existing offerings.
• Stay updated with industry trends, market dynamics, and consumer behavior to make informed decisions and adapt merchandise strategies accordingly.