Retail buyers find, negotiate and purchase merchandise sold in retail and department stores. If you’re looking for a fast-paced career combining retail and business, retail buying might be for you!
The Certificate of Retail Buying and Strategic Planning is an online professional development program that will provide you with the strategies, skills and knowledge required by retail buyers to purchase retail merchandise and develop buying plans.
In this online retail buying course you will learn how to analyse the market, plan and introduce product ranges, establish supplier relationships, negotiate the supply of goods and maximise profit through effective buying strategies.
A focus on the analysis of both internal and external environments ensures you understand the tools and techniques required to purchase strategically to meet performance benchmarks and maximise profit in an ever-changing retail environment.
On completion of this course, you will feel confident to apply for entry-level retail buying positions in department stores, retail chains and smaller retail shops. Or, when you have gained experience, offer your services on a freelance basis.
Course Structure
Unit 1 - Merchandise buying strategy
- Post trade analysis
- Innovation
- Customer buying patterns
- Purchasing factors and trends
- Potential opportunities
- Competitor activity
- Competitor analysis
- Comparative analysis
- Competitor analysis and profiling
- Past and planned performance
- Missed opportunities
- Future trends
- Consult key stakeholders
- Future range strategy
- Relevant future trading
- Market and strategy analysis
- Product range
- Developing strategies
- Price strategy
- Product mix
- Product volumes and pricing
- Determining a service price
- Marketing and organisation strategies
- Communicating relevant strategy
- Six C’s of effective communication
- Develop merchandise plan
- Review marketing calendar
- Budget and marketing plan
- Marketing cycles
- Establishing base line sales
- Gross margin requirements
- Margins and markdowns
- Shrinkage and reductions
- Formulae for open to buy
- Weeks cover
- Stock turnover
- Width and depth of range
- Economic order quantity (EOQ)
- Respond to trade
- Plans and performance benchmarks
- Product returns
- Sales reports and report frequency
- Analysing sales volumes
- Cross selling ratios
- Dashboard reporting
- Managing merchandise plan
- Stock to sales ratio
- Gross margin return on investment
- ABC analysis
- Surplus stock
- Consolidating stock
Unit 2 - Undertake strategic planning in retail
- Analyse environment
- Vision, mission and values
- Reviewing strategy
- Key stakeholders
- Surveys
- Buyer behaviour
- Research trends
- Strategy development
- Competitor analysis
- Environmental analysis
- Technologies
- Ethical principles
- Demographic information
- Social and cultural behaviour
- Develop strategic plan
- Establishing objectives
- Maintaining market share
- Launching products / services
- Product awareness
- Testing products
- Feedback
- Business objectives
- Develop evaluation criteria
- Focus groups
- Monitor strategic plan
- Interpersonal skills
- Language and terminology
- Effective communication
- Productivity standards
Study Hours
Estimated duration 30 Hours
Course Delivery and Start
Start anytime, self-paced and 100% Online
Assessment
Assessment will be comprised of written exercises, including short-answer questions, reflective tasks, short reports and/or projects. There are no examinations or due dates for assessment. As a result, you can complete training in your own time and at your own pace with the assistance of unlimited tutor support.
Testimonials
My experience was very good studying with Australian Online Courses, and I will probably be doing another few courses soon.
I. Basharat, Morphett Vale, SA | Certificate of Retail Buying and Strategic Planning
I really enjoyed studying with Australian Online Courses. As someone who has never studied online I found it easy to use and easy to fit into my schedule.
M. Lilikakis, Bulleen, VIC | Certificate of Retail Buying and Strategic Planning
It was a seamless and easy experience that gave me the knowledge that I was looking for and needed.
Z. Khan, Springwood, QLD | Certificate of Retail Buying and Strategic Planning
Graduation
A Certificate of Attainment and Statement of Results will be issued upon successful completion of this course.
How to Enrol
Enrol Online: Click Add to Cart/View Cart on the course page.
Enrol via Live Chat (Business Hours)
Enrol via Telephone 1300 76 2221 (Business Hours)
Enrol via Purchase Order/Tax Invoice
Enrolling Multiple Staff?
To enrol multiple staff, please complete the Employer Enrolment Form. We’ll be in touch within 60 minutes during business hours!
Payment Options
Visa, Mastercard, BPAY and Direct Deposit.
Course FAQs
Why Choose Australian Online Courses?
- Professional development that is widely recognised and respected;
- Improve your employment opportunities;
- Study online, anywhere via our elearning system;
- High-quality professional development programs written by industry experts;
- All course materials provided online – no textbooks to buy;
- Unlimited tutor support via email;
- We offer twelve (12) months’ access, with extensions available upon application (fees apply);
- Course may be tax deductible; see your tax advisor.
Are there any entry requirements or pre-requisites?
There are no course or subject pre-requisites for entry into our programs. However, our professional development programs are generally intended for people over the age of 18. In some circumstances, enrolments from younger people may be considered. Please complete the AOC Parent Guardian Consent Form prior to enrolling and submit here.
When can I start this course?
You can start within 60 minutes during business hours when you enrol and pay in full with a credit card!
Credit card: Within 60 mins during business hours.
BPAY: Within 1-2 working days.
Internet Banking: Within 1-2 working days.
Cheque/Money Order: Upon receipt of mailed cheque.
How is this course delivered?
This course is delivered online via our easy-to-navigate Learning Management System (LMS), where you will discover interactive online learning/written content, resources and assessment.
Do I need to attend classes or undertake any work placements?
No. All courses are delivered online via our LMS and there are no work placement requirements in this course.
What support can I expect from Australian Online Courses?
Unlimited tutor support is available throughout your studies via email only during business hours Monday to Friday. Our Administrative team are available Monday to Friday via email, live chat and telephone.
I am an international student. Can I enrol into this course?
Yes! We accept enrolments from individuals both within Australia and internationally; location is no barrier to entry into our programs.
Career Pathways
Future growth
Strong
Unemployment
Low
- Buyers Administrator
- Buying and Product Manager
- Buying Administration Assistant
- Retail Buyer
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