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Full Description
Retail Buying, Seventh Edition integrates math concepts throughout the text to guide students through typical buying tasks, from identifying potential customers, to creating a six-month merchandising plan, to developing sales forecasts. Updated with examples and trends from across the world, this book will keep readers informed on how the retailing industry is adapting to changes like an increased focus on sustainability, the growth of digital retailing, and impacts from the coronavirus pandemic. Practice problems and updated information tables further help students to analyze and interpret data across relevant subjects like global buying and sourcing, omnichannel retailing, and social media.
New to this Edition:
-Updated coverage of the coronavirus pandemic and the expanding usage of social media and mobile technologies
-Increased emphasis on product sustainability and changing consumer behavior
-New and updated Trendwatch and Snapshot features
Instructor Resources
-The Instructor's Guide provides suggestions for planning the course and using the text in the classroom, including sample syllabi, in-class activities, and teaching ideas
-The Test Bank includes sample test questions for each chapter
-PowerPoint® presentations include images from the book and provide a framework for lecture and discussion
STUDIO Features Include:
-Study smarter with self-assessment quizzes featuring scored results and personalized study tips
-Review concepts with flashcards of essential vocabulary and basic retail math formulas
-Practice your skills with downloadable Excel spreadsheets to complete the end-of-chapter Spreadsheet Skills exercises
-Enhance your knowledge with printable worksheets featuring step-by-step solutions to common retail buying math problems
-Watch videos related to chapter concepts
Contents
Preface
Acknowledgments
PART I Understanding the Retail Environment Where Buying Occurs
1 Today's Buying Environment
2 The Buying Function in Retailing
3 Buying for Different Types of Stores
PART II Getting Ready to Make Buying Decisions
4 Obtaining Assistance for Making Buying Decisions
5 Understanding Your Customers
6 Understanding Product Trends: What Customers Buy
PART III Planning and Controlling Merchandise Purchases
7 Forecasting
8 Preparing Buying Plans
9 Developing Assortment Plans
10 Controlling Inventories
PART IV Purchasing and Pricing Merchandise
11 Selecting Vendors and Building Partnerships
12 Making Market Visits and Negotiating with Vendors
13 Locating Sources in Foreign Markets
14 Making the Purchase
15 Pricing the Merchandise
Appendix A: Basic Retail Math Formulas
Appendix B: Decision Making
Glossary
Credits
Index
