About the Merchandise Planner test
In today’s highly competitive retail environment, it is paramount that businesses be able to optimally select, manage, display, and price products. A retailer’s goal should be to maximize returns on investment, add value to the brand name and satisfy customer needs – all while avoiding the creation of excess inventory. Hiring a highly qualified merchandise planner can help your retail business achieve these goals. Candidates with merchandise planner skills can serve as business managers for specific product categories and provide decision-making support for their buying partners in your business. By building sound, well-thought-out seasonal plans, merchandise planners create a framework within which the buyer is able to focus on curating an optimal assortment for the customer.
Retail is a fast-paced and fluid business and requires the ability to constantly evaluate and adjust, based on results. Analytical acumen is important. This Merchandise Planner test will assess the candidate’s comfort level in applying retail math concepts to building weekly and monthly business plans that incorporate key retail metrics such as sales, markup, gross margin, and inventory turnover. It also evaluates candidates’ ability to prepare seasonal plans and identify risks and opportunities for your business.
Candidates who perform well on this Merchandise Planner test will have a strong grasp of retail mathematical concepts and how to leverage these concepts to present revised business scenarios under the theory “The plan is wrong as soon as it is submitted.” This screening test will help you hire merchandise planners who can help your retail business reduce stock holdings and react quickly to new trends.