This comprehensive book provides students with the skills and savvy needed to become a successful buyer in any area of retail. Its simple and straightforward approach presents step-by-step instructions for typical buying tasks, such as identifying and understanding potential customers, creating a six-month merchandising plan, and developing sales forecasts. This new edition contains up-to-date coverage of important retailing trends and technological advances, including social responsibility, sustainability, fast fashion, and the use of new media and social networking. Ample activities - drawn from real-world merchandising and incorporating current trends - give students the opportunity to apply critical skills as they would in a professional environment.

About the Author/Editor

Richard Clodfelter is a Professor in the College of Hospitality, Retail, and Sport Management at the University of South Carolina, Columbia, where he teaches retail buying, internet retailing, and entrepreneurship. Clodfelter holds a Doctorate from Virginia Tech, a Master's from the University of North Carolina at Greensboro and a Bachelor's from Appalachian State University. His primary research interests include retail pricing, purchasing on the Internet, and retail technology. His articles and papers have received awards from several retailing and educational associations.

Contents

CONTENTS
Understanding the Retail Environment Where Buying Occurs
• Today's Buying Environment
• The Buying Function in Retailing
• Buying for Different Types of Stores
Getting Ready to Make Buying Decisions
• Obtaining Assistance for Making Buying Decisions
• Understanding Your Customers
• Understanding Product Trends: What Customers Buy
Planning and Controlling Merchandise Purchases
• Forecasting
• Preparing Buying Plans
• Developing Assortment Plans
• Controlling Inventories
Purchasing Merchandise
• Selecting Vendors and Building Partnerships
• Making Market Visits and Negotiating with Vendors
• Locating Sources in Foreign Markets
• Making the Purchase
Motivating Consumers to Buy
• Pricing the Merchandise
• Promoting the Merchandise