How do you evaluate the success of fashion buying strategies in terms of customer satisfaction and sales performance?
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Sample interview questions: How do you evaluate the success of fashion buying strategies in terms of customer satisfaction and sales performance?
Sample answer:
Evaluation of Fashion Buying Strategies
Customer Satisfaction Metrics:
- Net Promoter Score (NPS): Measure customer loyalty and satisfaction through a survey question asking customers if they would recommend the store or product.
- Customer Feedback Analysis: Collect and analyze customer reviews, emails, and social media comments to identify areas for improvement and areas of satisfaction.
- Return and Exchange Rates: High return rates can indicate dissatisfaction with fit, quality, or style, requiring adjustments to buying strategies.
- Follow-up Surveys: Conduct post-purchase surveys to gather feedback on specific products, service, and overall experience.
Sales Performance Metrics:
- Sales Volume: Track sales revenue to assess the overall success of buying strategies.
- Inventory Turnover: Monitor the rate at which inventory is sold to evaluate buying efficiency and avoid overstocking or stockouts.
- Sell-Through Rate: Measure the percentage of inventory sold within a specific period, indicating the effectiveness of product selection and quantities purchased.
- Gross Margin: Calculate the profit margin to a… Read full answer