What is a buying plan in fashion merchandising?

A buying plan in fashion merchandising is primarily a document that outlines the budget and product quantities for a specific period. It serves as a critical tool for retailers to manage their inventory effectively, ensuring that they purchase the right amount of merchandise to meet anticipated customer demand without overstocking, which can lead to markdowns and lost profits.

The buying plan typically includes various elements such as sales forecasts, historical sales data, planned inventory turnover, and seasonal trends. By detailing how much of each product will be purchased based on these forecasts, a buying plan helps retailers align their purchasing decisions with their overall business strategy and financial goals.

In contrast, other options focus on different aspects of merchandising. Marketing schedules and product launches pertain to how the products will be presented to consumers rather than the procurement process itself. Managing customer feedback involves post-purchase engagement and adjustments to inventory based on consumer reactions, which is outside the scope of initial buying decisions. Lastly, a plan for store layout and design relates to the physical presentation of products in a retail space rather than the planning or purchasing of inventory.