I’m working on a Excel question and need guidance to help me study.
you will be completing a Competitive Shopping Report (30 pts) as well as creating a Vendor Agenda (20 pts). Last week we looked at the overall customer and started to look at trends. This week you will continue with developing your assortment ideas by analyzing current merchandise and creating an agenda with a vendor.
As a buyer it is crucial to understand your assortment as well as your competition’s. You can gain valuable information such as pricing, color themes, brands, placement, and overall trends in looking at various competitor’s merchandise. Remember it doesn’t have to be a direct competitor to still be somewhere your customer is shopping. For the Competitive Shopping Report, you will analyze your assortment as well as 2 competitor’s assortment (via websites). (Each analysis is 10pts -your assortment & two competitors the 30pts)
Create a chart for your CSR. Label your store as well as two competitor’s (remember you are mostly analyzing your area/department). Within each store/website you will look at the following (these will be your headers):
Price ranges
Color themes
Visuals/Marketing (how is it being promoted and displayed on the website, is your department on the main homepage, is it easy to find/shop)
Overall trends
Once you record your observations, provide a brief summary of your findings. What is your department/store doing well with? What can they improve?
The Vendor Agenda is somewhat of a guide in establishing a new relationship with the Vendor (as well as a schedule throughout the buy process). For this agenda, you will continue in your role as a buyer for your chosen store/department. With this in mind, take a look at the overall assortment of your department and try to come up with either an idea of a new product/silhouette OR a collaboration with a designer/influencer.
For these scenarios identify if your vendor would be a manufacturer or wholesaler.
The Vendor Agenda has four parts (each 5pts) and can be found on the next tab excel homework file or you can upload it in word.
- Introduce your idea/product/collaboration. Explain why it is a good fit etc.
- What/how will you prepare for your vendor meeting? What things will you consider before you set up your meeting?
- What are some of the things you will discuss/negotiate during your meeting?
- Let’s say you bring in the vendor for a season… After that season how would you evaluate your vendor’s performance?
plz do it on the excel I upload.
