Financial accounting homework answers

Analyse trade within given scenarios to identify the opportunities and risk within the current trading performance. Use data mining sources (EDITED) as well as your commercial awareness to make effective tactical decisions on price, cut, colour, size and fashionability. (750-1000 words)

Using your current knowledge of the market – Competitor activity!

The Report (cont)

 Re-forecast the WSSI as guided in class to identify the in season OTB.

Please note the WSSI should also be submitted as a separate Excel document, to Part 2 of the Turnitin submission.

 Use your OTB to fill the gaps in the range to create a positive trading performance for the remainder of the season. (500 words) ( Using top down option plans to provide solutions for a large store and a small store)

Your individual report should contain the following elements to satisfy the Visual Merchandising Requirements - Review of the Coat Department in TopShop and Visual Presentation to supplement the range with your new OTB Spend

 Space and Zone plans of selected spaces

 Visual Audit of existing brand concept

 Identification and application of fixtures

 Mood Board of concept

All of your decision making must be thoroughly underpinned by research to make sure that your planning is viable.

Learning Outcomes & Marking Criteria

Analysis of the financial aspects of merchandise planning such as forecasting, initial sales plans, intake plans, allocation and stock control using your Excel skills (analysis, subject knowledge, experimentation, technical competence, collaborative and/or independent professional working);

Apply knowledge of retail space management and brand communication to communicate your ideas using your visual creative skills (experimentation, technical competence, research, subject knowledge, communication and presentation);

An understanding of the factors that may affect the profitability and the success of the in- store assortments. (experimentation, research, analysis, subject knowledge, communication and presentation).

Analysis of weekly sales performance reports and the implications of trading decisions to optimise profit by the application of innovative, agile, creative and consumer-centric approaches to contemporary trading. (experimentation, research, analysis, subject knowledge, technical competence).

This unit is designed to build your planning and trading skills and knowledge.

ACTION PLAN – Lecture 1

Brand – TOPSHOP

Department – Outerwear

Research Outerwear Market – SWOT

Plan Product Categories Relevant to Key Customer

Plan Product Categories Relevant to Trends and Decide on Financial Structure

Plan the instore presentation – What store size gets which product?

Recognise a trading situation – React with solutions

Create an OTB proposal to deliver business objectives

Reforecast and submit a WSSI to highlight the OTB

Activities to prepare for the Assignment

Comp shop the High Street regularly to spot the changes which are happening to ranging and pricing within outerwear for Top Shop and its competitors

Look for product opportunity within outerwear

Research the market – what value is outerwear in the UK? How is it trending up or down? – look for category data to support your category matrix

You have seen how cash is translated to options using the graded option plan

You have seen how option frameworks are calculated with assumptions of grade % participations, average sales for individual stores within grades, average price decisions, rate of sale decisions and product lifecycle decisions.

You have been shown how stores are graded in actual situations to provide complex option frameworks although you just need to demonstrate a small and large store using a basic 3 grade model.

You will learn to interpret a working WSSI and provide solutions to recover the trading situation back to the original 16m plan

You will propose a buy based on your reforecasted WSSI to reflect your research of the high street and missing opportunity/trends – this could be a new product category (Could be a sportswear range of Outerwear for example)

You will incorporate this within a visual statement (VRP element of the unit) and demonstrate this for a small space store and large store

You will provide a reworked WSSI and option plan to support your decisions

You can demonstrate your buy on a line detail – this is not essential but confirms your understanding of this document

MPAT Checklist 10th October

MPAT CHECKLIST – RESEARCH AND ANALYSIS WKS 1-3 MERCHANDISING

Comp shop high street to assess product mix, fashionability, price points, sizes available, units etc

Cat planning % mixes – analyse and justify

Cat phasing sheet – analyse and justify – ensure timely and considered

Price architecture – analyse and justify

Market analysis – consumer, trends, comp shop, market place – analyse and justify

Option planning – understanding

Grading – understanding

KPI’s planning – evidence understanding, examples

KPI’s trading – evidence understanding, examples

WSSI sales phasing – interpret, provide solutions, summarise BTA sheet

Line details – from OTB

Target WSSI