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Mathematics for Retail Buying, 8th Edition, introduces merchandising and retailing students to the most important concepts in retail math through step-by-step examples with practice problems and solutions. Coverage begins with the skeletal profit and loss statement, and moves through retail pricing and repricing of merchandise, markups, markdowns, the retail method of inventory, six-month, and assortment planning. This extensively updated edition introduces a new co-author and a practical approach that incorporates actual retail scenarios and concepts that are relevant to the fashion industry today. The book has been reorganized into six chapters, each covering a mathematical factor that affects the gross margin and profitability key to the success of any merchandise buyer or planner. The new edition also integrates current retail business metrics and an increased focus on the six-month planning process, including a new assortment planning section with examples.
New to This Edition:
- Reorganized Units I and VI reflect the order of prior editions and open the textbook with the discussion of “merchandising for profit” and profit and loss concepts
- Retitled “Units” to “Chapters” to make the book more user-friendly
- Updates problems in all units and case studies for currency and relevancy to the industry today, including at least 25% new practice problems and 50% new case studies
- Expanded chapter on "Dollar Planning and Control" to include more on sales planning and comprehensive coverage of the six month planning process and assortment planning
- Explains how retailers do this in today's world, not only for brick and mortar but for omni-channel, including a sampling of problems from all retail sectors should be included
- Includes criteria necessary for determining when to take markdowns in that chapter
Mathematics for Retail Buying STUDIO
-Study smarter with self-quizzes featuring scored results and personalized study tips
-Review concepts with flashcards of terms and definitions and key formulas
-Practice your skills by computing Practice Problems from the text, now available digitally with formulas embedded in the Excel spreadsheets
-Enhance you knowledge with additional real world case studies and activities for each chapter
PLEASE NOTE: Purchasing or renting this ISBN does not include access to the STUDIO resources that accompany this text. To receive free access to the STUDIO content with new copies of this book, please refer to the book + STUDIO access card bundle ISBN 9781501315725.