FCS 226 Retail Buying

3 Credit Hours

Lecture/Discussion

Retail Buying addresses the fundamentals of merchandising mathematics, its relationship to buying, and use in the fashion/retail industry. The course presents essential concepts, practices, procedures, calculations, and interpretations of figures that relate to the many factors that produce profit. Study includes elements of profit and loss, pricing, inventory control, dollar planning and control, and wholesale purchasing. Also includes sources of buying information, and the responsibilities of buyers in various types of firms.

Course Objectives

1. The buying function is critical to the success of retail firms. This course will familiarize you with the role and responsibilities of the retail buyer and the fundamental skills required for a career as a retail buyer.

2. Being successful as a retail buyer involves more than having good taste or a sense of style. A retail buyer must be able to accurately assess consumer demand and account for the many influences on consumer buying behavior. Upon completion of this course, you will be able to identify and explain major factors that influence the retail buyer's decision-making.

3. Retail executives are responsible for making decisions that contribute to making a profit for their firms. Many of these decisions require an understanding of basic retail mathematics. The primary focus of this course is to enable you to apply merchandising mathematics to solve retailing problems.

Course Benefits

Students who plan a career in retailing will benefit from this course by becoming familiar with the fundamental principles of profit generation for retail firms. This knowledge is essential for anyone planning to pursue a retailing or merchandising career, and will increase your value as a productive employee as well as a well-informed consumer.