How do you approach the task of analyzing market trends and making informed merchandising decisions based on those trends?
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Sample interview questions: How do you approach the task of analyzing market trends and making informed merchandising decisions based on those trends?
Sample answer:
Analyzing Market Trends
- Monitor Industry Reports and Publications: Regularly gather data and insights from industry analysts, trade publications, and fashion magazines to stay abreast of emerging trends.
- Conduct Trend Research: Conduct both qualitative and quantitative research through surveys, focus groups, and social media analysis to identify consumer preferences and behavior.
- Keep an Eye on Fashion Shows and Events: Attend fashion shows, trade fairs, and industry events to observe firsthand the latest collections and design innovations.
- Follow Trendsetters and Key Influencers: Identify and follow fashion icons, bloggers, and social media influencers who set trends and influence consumer buying decisions.
Making Informed Merchandising Decisions
- Identify Sales Opportunities: Analyze market trends to identify products and styles that align with predicted consumer demand.
- Develop Product Assortments: Plan and select products that meet the needs of the target market, considering factors such as seasonality, price point, and style preferences.
- Manage Inventory Levels: Read full answer
Source: https://hireabo.com/job/6_1_8/Fashion%20Merchandiser