Merchandise planners are in charge of developing effective merchandise strategies for their company. They are responsible for creating sound financial plans that reduce company spending, and increase overall profit. They review forecasts, use past performance to make projections, make recommendations for promotional markdowns, and manage inventory to maximize profitability. Additionally, merchandise planners research market trends to increase create more attractive offerings.Most of the time, merchandise planners act as a liaison between the corporate planning office and the buying office within their company. They also project gross margin, inventory goals, and sales trends, as well as analyze sales, inventory flow, and merchandise strategies. Using this data, they prepare monthly estimates and present their progress to the manager or president in their department. They also attend regular staff meetings to update forecasts and receive input from other members and executives.A bachelor's degree in marketing, business planning, or a related field is required for this position. In addition, previous experience in a planning capacity may be preferred. To be successful in this field, merchandise planners must be results-oriented individuals with strong interpersonal skills to develop excellent relationships with vendors and external business partners. They must be able to work with other planners to reach all company objectives, as well as work well independently to meet strict deadlines. Merchandise planners must also have extensive knowledge of products and their capabilities while working with suppliers to negotiate terms and cost.

The merchandise planner role in Australia is projected to experience steady growth in the market, according to the latest data points available with Google. Over the past 10 years, this job role has shown a positive trend, with increasing demand and relevance in the retail industry. The role is expected to continue evolving and expanding, creating numerous employment opportunities for professionals in the future. This growth is attributed to the increasing complexity of supply chain management, the rise of e-commerce, and the growing importance of data analysis in retail.

How to Learn

As a Merchandise Planner with 3-6 years of experience in Australia, your main responsibilities include:<ul><li> Analyzing sales trends, historical data, and market conditions to develop accurate merchandise plans that align with business objectives.You will be responsible for utilizing data analysis to identify sales patterns and market trends, allowing you to create effective merchandise plans that meet the company's goals and objectives.</li><li> Collaborating with cross-functional teams such as buying, inventory management, and marketing to ensure seamless execution of merchandise plans.You will work closely with various departments to ensure the smooth implementation and execution of merchandise plans, coordinating efforts to maximize sales and profitability.</li><li> Monitoring inventory levels, sales performance, and customer demand to make timely adjustments to merchandise plans.It will be your responsibility to closely monitor inventory levels, sales performance, and customer demand, enabling you to make necessary adjustments to merchandise plans to optimize inventory turnover and meet customer needs.</li><li> Conducting regular analysis and reporting on merchandise performance, identifying areas for improvement and recommending strategies to drive sales and profitability.</li></ul>

Roles & Responsibilities

Average take home Salary for a Merchandise Planner in Australia is around $58793 per year

Salary Breakup

The Merchandise Planner is responsible for analysing trends in the market, sales data and levels of inventory to formulate and implement efficient strategies for merchandise. They work with teams from across the functional spectrum to find opportunities, suggest prices and promotional strategies, and also forecast the demand. A Merchandise Planner plays a crucial part in maximising sales, maximizing inventory levels and ensuring the profitability of the company. This job requires an analytical and strategic abilities, attention to specifics, and the ability to perform well in a highly competitive retail setting.

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Merchandise Planner

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