{"id":758,"date":"2018-02-27T21:52:14","date_gmt":"2018-02-27T21:52:14","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/?post_type=chapter&#038;p=758"},"modified":"2024-04-25T02:29:13","modified_gmt":"2024-04-25T02:29:13","slug":"introduction-to-merchandise-planning-and-management","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/chapter\/introduction-to-merchandise-planning-and-management\/","title":{"raw":"Introduction to Merchandise Planning and Management","rendered":"Introduction to Merchandise Planning and Management"},"content":{"raw":"<h2>What you'll learn to do:\u00a0Identify the important aspects of merchandise planning and management<\/h2>\r\nMerchandise management and planning are an essential part of successful apparel retailers.\u00a0Here are a few statistics to consider regarding the size of the apparel market on a global level.\r\n\r\nIn total the global apparel market is approximately $3 billion dollars, 2% of the world's GDP (Gross Domestic Product.\u00a0 How does that break down into categories within the global apparel market?\r\n<ul>\r\n \t<li>Womenswear:\u00a0 $621 billion<\/li>\r\n \t<li>Menswear:\u00a0 $402 billion<\/li>\r\n \t<li>Childrenswear:\u00a0 $186 billion<\/li>\r\n \t<li>Sports Footwear:\u00a0 $90 billion<\/li>\r\n \t<li>Bridalwear:\u00a0 $57 billion<\/li>\r\n \t<li>Luxury Goods:\u00a0 $339 billion<\/li>\r\n<\/ul>\r\nIn this module we will explore the important characteristics of Merchandise Management that support this $3B industry.","rendered":"<h2>What you&#8217;ll learn to do:\u00a0Identify the important aspects of merchandise planning and management<\/h2>\n<p>Merchandise management and planning are an essential part of successful apparel retailers.\u00a0Here are a few statistics to consider regarding the size of the apparel market on a global level.<\/p>\n<p>In total the global apparel market is approximately $3 billion dollars, 2% of the world&#8217;s GDP (Gross Domestic Product.\u00a0 How does that break down into categories within the global apparel market?<\/p>\n<ul>\n<li>Womenswear:\u00a0 $621 billion<\/li>\n<li>Menswear:\u00a0 $402 billion<\/li>\n<li>Childrenswear:\u00a0 $186 billion<\/li>\n<li>Sports Footwear:\u00a0 $90 billion<\/li>\n<li>Bridalwear:\u00a0 $57 billion<\/li>\n<li>Luxury Goods:\u00a0 $339 billion<\/li>\n<\/ul>\n<p>In this module we will explore the important characteristics of Merchandise Management that support this $3B industry.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-758\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Introduction to Merchandise Planning and Management. <strong>Authored by<\/strong>: Robert Danielson. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":82555,"menu_order":2,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Introduction to Merchandise Planning and Management\",\"author\":\"Robert Danielson\",\"organization\":\"Lumen 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