Plasmo and the Infinite Sadness

I’m preparing and finalising some buying within a few minutes and hoping that the best choices were made. Is it something that needs serious qualifications and training, or just experience and knowing your market, their buying patterns and such? I guess it depends on the scale (buying for Myer as opposed to buying for a tiny boutique shop).

During an economic downturn, people tend to have less to spend and will start looking at cheaper alternatives and/ or dropping luxury goods. Therefore, choice of buying should be based on:

• Following basic buying principles (matches your business product mix, ability to complement across the store, ease of merchandising and branding, etc.)
• Higher affordability for both the consumers and the retailer
• Higher in value (getting more out of their dollar)
• Lower in absolute price termsContinue reading “Strategic Buying During An Economic Downturn”