Optimize Buying

The Future of Buying & Sourcing Items in Fashion Retail

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Fashion retailers often struggle with item fail rates of up to 60%. Understanding what item will sell well is complex and uncertain but has become crucial in a new fashion retail reality.

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What is the process of buying in fashion retail all about?

The process of buying in fashion retail involves a series of steps that a buyer or a buying team follows to select and purchase merchandise for a set of sales channels.

The buying team researches current fashion trends, market conditions, and consumer preferences to identify potential product categories, styles, and brands to carry. It then sets a budget for purchasing merchandise and forecasts sales and inventory needs based on historical data, market trends, and upcoming events or promotions.

A crucial part of the team's tasks revolves around assortment planning. The buying team selects merchandise that fits with the brand's target market and plans the product assortment to ensure a balanced mix of styles, colors, sizes, and price points.

After selecting and negotiating prices and terms, focus is put on delivery and subsequent transfer to the proper sales channels.


Why is the process of buying items as a fashion retail organization in need of a change?

The process of buying items in fashion retail is in need of a change for several reasons. With the rise of e-commerce and social media, consumers have become more informed and demanding, seeking personalized experiences and fast delivery times. Fashion retailers need to adapt their buying process to better respond to these changing consumer preferences and behaviors.

But there is more. The fashion retail industry has become increasingly crowded. To stand out and stay ahead, fashion retailers need to improve their buying process to be more efficient, effective, and responsive to changing market conditions. There is a continuous need to reduce costs and improve profitability by optimizing inventory levels, negotiating better prices with suppliers, and streamlining the purchasing process.

On top of that, there is the general public seeking more sustainable and ethical products. Fashion retailers need to adjust their buying process to incorporate sustainability criteria, such as using eco-friendly materials and partnering with ethical suppliers. They need to buy the right amount of items and allocate them correctly to prevent overproduction and reduce their environmental footprint.

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A Platform built for
Fashion Retail Teams

The Crunch Fashion Retail Platform is the perfect solution for fashion retail teams looking to streamline their buying, pricing, and inventory management processes.

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