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.
Unit 1 - Merchandise buying strategy
Post trade analysis
Customer buying patterns
Purchasing factors and trends
Competitor analysis and profiling
Past and planned performance
Consult key stakeholders
Future range strategy
Relevant future trading
Market and strategy analysis
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
Establishing base line sales
Gross margin requirements
Margins and markdowns
Shrinkage and reductions
Formulae for open to buy
Width and depth of range
Economic order quantity (EOQ)
Respond to trade
Plans and performance benchmarks
Sales reports and report frequency
Analysing sales volumes
Cross selling ratios
Managing merchandise plan
Stock to sales ratio
Gross margin return on investment
Unit 2 - Undertake strategic planning in retail
Vision, mission and values
Social and cultural behaviour
Develop strategic plan
Maintaining market share
Launching products / services
Develop evaluation criteria
Monitor strategic plan
Language and terminology
When you study with Australian Online Courses, you will be assessed using a competency-based training method.
Competency-based training focuses on the achievement of skills and knowledge against set criteria to meet industry-standard and is not benchmarked against other students’ work.
In this course, the assessment will be comprised of written assignments and exercises, which may include short answer questions, reports, essays, research projects and reflective tasks.
If you do not achieve a competency result on your first attempt, you have two more attempts to pass your assessment. So, you have three attempts in total to obtain a competency result.
In this way, you can complete your course in your own time and at your own pace with the assistance of unlimited tutor support.
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;
No entry requirements;
All course materials provided online – no textbooks to buy;
Unlimited tutor support;
Easy to understand course content;
Twelve (12) months’ access, with extensions available upon application (fees apply);
Certificate of Attainment/Completion issued for your CV (hard copy provided); and
Course may be tax deductible; see your tax advisor.
How long will it take to complete this course?
The approximate study hours for this course is 30 hours. Twelve (12) months’ access, with extensions available upon application (fees apply).
Can I purchase optional printed materials?
Yes! The cost for printed materials for this course is $50 per unit.Total cost for optional printed materials is: $100.00. Printed materials are optional and not required to complete the course. Everything you need to complete the course is provided online via our e-learning system.
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.
Will I receive a certificate upon completion of this course?
Yes! You will receive a Certificate of Attainment upon successful completion of your assessment.
Do I need to attend classes or undertake any work placements?
No. All courses are delivered online via our e-learning system 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 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.