6 hard skills or competencies (industry competencies) for Merchandise Planner
Skill definition-Applying comprehensive knowledge of retail principles, inventory management, pricing strategies, and consumer behavior to effectively manage and operate retail businesses.
Level 1 Behaviors
(General Familiarity)
Describes the application of upselling, cross-selling, and closing sales techniques in retail operations.
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Level 2 Behaviors
(Light Experience)
Follows the established merchandising guidelines when organizing product displays and storage.
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Level 3 Behaviors
(Moderate Experience)
Conducts regular retail audits to optimize operations, improve performance, and uphold standards.
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Level 4 Behaviors
(Extensive Experience)
Guides and mentors the staff in visual merchandising best practices to maintain consistent and high-quality displays.
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Level 5 Behaviors
(Mastery)
Develops and implements new retail business models to enhance the customer experience and foster brand loyalty.
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Skill definition-Strategically planning, executing, and managing product merchandising, pricing, and promotions to increase customer engagement and maximize revenue.
Level 1 Behaviors
(General Familiarity)
Defines the legal and ethical considerations for merchandising, such as product labeling requirements.
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Level 2 Behaviors
(Light Experience)
Assists in arranging product assortments and displays to optimize space and enhance brand visibility.
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Level 3 Behaviors
(Moderate Experience)
Conducts regular store visits to ensure proper product allocation, replenishment, and pricing.
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Level 4 Behaviors
(Extensive Experience)
Creates and leverages performance metrics to evaluate the effectiveness of merchandising strategies.
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Level 5 Behaviors
(Mastery)
Champions the adoption of advanced analytics and predictive modeling tools to optimize inventory turnover.
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3 general skills or competencies (Job family competencies) for Merchandise Planner
Skill definition-Allocating financial resources and developing business strategies.
Level 1 Behaviors
(General Familiarity)
Identifies the importance of the basic financial planning concepts and cycles.
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Level 2 Behaviors
(Light Experience)
Conducts scenario planning for various financial planning needs.
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Level 3 Behaviors
(Moderate Experience)
Provides extensive support during the annual financial planning cycle.
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Level 4 Behaviors
(Extensive Experience)
Drives continuous process improvement in the financial planning function.
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Level 5 Behaviors
(Mastery)
Constructs new financial plans for clients based on their unique planning dynamics.
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Skill definition-Developing and implementing promotional activities to attract and increase the awareness of customers in buying products.
Level 1 Behaviors
(General Familiarity)
Lists the basic techniques used in executing promotion in the marketing sector.
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Level 2 Behaviors
(Light Experience)
Shows potential customers how a product or service works.
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Level 3 Behaviors
(Moderate Experience)
Implements promotional activities in accordance with the set budget.
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Level 4 Behaviors
(Extensive Experience)
Manages various promotional initiatives such as direct marketing and sales promotion.
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Level 5 Behaviors
(Mastery)
Establishes a metric system to evaluate the effectiveness of major promotional efforts.
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8 soft skills or competencies (core competencies) for Merchandise Planner
Skill definition-Ability to plan and organize activities, tasks, and resources to achieve business goals and objectives within timeframe and budget.
Level 1 Behaviors
(General Familiarity)
Lists ways to improve scheduling skills, including setting deadlines, using a planner and delegating tasks.
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Level 2 Behaviors
(Light Experience)
Reports the changes in scheduled appointments for management to review.
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Level 3 Behaviors
(Moderate Experience)
Uses organizational workforce models to determine schedules that meet operational commitments.
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Level 4 Behaviors
(Extensive Experience)
Organizes calendars for department personnel to set meetings, conferences, teleconferences, and travel.
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Level 5 Behaviors
(Mastery)
Designs an organizational timetable to keep track of all scheduled activities of employees.
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Skill definition-Knowledge of and ability to apply a set of quantifiable measurements to determine how effectively an individual, team or organization is achieving a business objective.
Level 1 Behaviors
(General Familiarity)
Explains the benefits and risks of using KPIs.
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Level 2 Behaviors
(Light Experience)
Gathers internal and external benchmarks for KPI development.
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Level 3 Behaviors
(Moderate Experience)
Interprets and analyses KPI data to recommend courses of action.
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Level 4 Behaviors
(Extensive Experience)
Evaluates ongoing productivity; recommends corresponding modifications on KPIs as indicated.
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Level 5 Behaviors
(Mastery)
Leads efforts to improve performance as identified and measured by KPIs.
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Summary of Merchandise Planner skills and competencies
There are 6 hard skills for Merchandise Planner, Retail Industry, Merchandising, Category Management, etc.
3 general skills for Merchandise Planner, Financial Planning, Promotion, Inventory Control.
8 soft skills for Merchandise Planner, Scheduling, Key Performance Indicators (KPI), Attention to Detail, etc.
While the list totals 17 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Merchandise Planner, he or she needs to be proficient in Scheduling, be proficient in Key Performance Indicators (KPI), and be proficient in Attention to Detail.