Merchandising Executive

R360 powers a data-driven customer engagement ecosystem that enables the world s leading organisations to earn customer loyalty every day.

For over 10 years, R360 s loyalty and reward platforms have driven ambitious loyalty programs for some of the world s biggest brands - including Axis Bank, Standard Chartered Bank, HDFC Bank and Emirates National Dubai Bank. We have 500+ global retail partnerships and offer our clients reward programs, nuanced customer segmentation, data-centric campaigns, and big data analytics.

Our multidisciplinary team of technology experts, product engineers, data scientists, client relationship managers and customer experience professionals work together with our clients to enable loyalty by enhancing customer acquisition, engagement and retention.

Job Summary:

The Merchandising Executive plays a pivotal role in the operation, overseeing the planning, buying, and selling of merchandise to ensure maximum profitability. They are responsible for analyzing market trends, developing product assortments, and executing merchandising strategies to drive sales and meet customer demand. This role requires a combination of analytical skills, creativity, and business acumen to effectively manage inventory and optimize product offerings.

Key Responsibilities:

• Product Selection and Assortment Planning:
• Analyze market trends, consumer preferences, and sales data to identify opportunities for product assortment expansion or optimization.
• Collaborate with cross-functional teams, including sales, marketing, and product development, to develop a merchandise strategy aligned with business objectives.
• Select and curate merchandise assortments based on seasonality, trends, and customer preferences to maximize sales and profitability.
• Vendor Management and Negotiation:
• Source new suppliers and negotiate favorable terms, including pricing, delivery schedules, and payment terms, to ensure competitive pricing and quality standards.
• Maintain strong relationships with existing vendors and suppliers, resolving any issues or disputes that may arise.
• Monitor supplier performance and evaluate vendor performance against predefined metrics, such as on-time delivery and product quality.
• Inventory Management and Control:
• Forecast demand and manage inventory levels to minimize stockouts and overstock situations, optimizing inventory turnover and reducing carrying costs.
• Implement inventory control measures, such as replenishment strategies, stock allocation, and markdown management, to maximize profitability and minimize excess inventory.
• Conduct regular inventory audits and analysis to identify slow-moving or obsolete stock and develop strategies to mitigate inventory risks.
• Promotions and Pricing Strategy:
• Plan and execute promotional campaigns, sales events, and markdown strategies to drive traffic and increase sales.
• Monitor competitor pricing and market trends to adjust pricing strategies and maintain competitiveness.
• Analyze promotional effectiveness and sales performance to optimize future promotional activities and pricing decisions.
• Cross-Functional Collaboration:
• Collaborate with cross-functional teams, including marketing, sales, and operations, to ensure alignment and execution of merchandising strategies.
• Communicate effectively with internal stakeholders to ensure timely execution of merchandising initiatives and resolve any issues or challenges.

Qualifications and Skills:

• Bachelors degree in business administration, marketing, merchandising, or a related field.
• Proven experience in merchandising, retail buying, or product management, preferably within the industry.
• Strong analytical skills, with the ability to interpret sales data, analyze market trends, and make data-driven decisions.
• Excellent communication and negotiation skills, with the ability to build and maintain relationships with vendors, suppliers, and internal stakeholders.
• Proficiency in merchandising software and tools, such as inventory management systems, sales forecasting software, and Microsoft Excel.
• Creative thinking and problem-solving abilities, with a focus on driving innovation and continuous improvement in merchandising strategies.
• Ability to thrive in a fast-paced, dynamic environment and manage multiple priorities effectively.

Additional Requirements:

• Experience with retail merchandising systems is a plus.
• Knowledge of retail math and financial analysis principles.
• Familiarity with industry trends, consumer behavior, and competitive landscape.
• Willingness to travel occasionally for vendor meetings, trade shows, or industry events.

Company Culture Fit:

• Customer Focus: Commitment to understanding customer needs and delivering exceptional shopping experiences.
• Collaboration: Ability to work effectively with cross-functional teams and contribute to a collaborative work culture.
• Adaptability: Willingness to embrace change and navigate evolving market dynamics.
• Results-Orientation: Drive to achieve sales targets and maximize profitability while maintaining a customer-centric approach.