Merchandiser Salary
The retail store industry heavily depends upon the merchandisers to optimize their sales and their popularity. Professional merchandisers who are involved in the retail industry state their profession to be a combination of advertising, accounting, costing and marketing. There are fields where this skill is required, some prominent examples include, fashion, clothing retail, electronic goods industry, fast food chains, etc. Though no specific qualification is required to become a merchandiser, many merchandisers are experts in their own fields. For example, a fashion merchandiser is usually an expert in the field of fashion. To know more about merchandisers, you can also refer to merchandiser job description.
Jobs and Duties
Before we proceed to the salary of merchandiser, let us have a look at the job profile, responsibilities and duties of the people working in this field. The job profile of merchandisers can be divided into 3 factions, namely, advertising and marketing, accountancy and costing and lastly, economic study. Here's an explanation...
Advertising and Marketing
An important aspect of merchandisers job is to advertise products that are to be sold, arrange for the appropriate stock and also update the stock from time to time. Keeping a regular fashion update and arranging the shop according to the ongoing fashion trends is an important function of all merchandisers. Merchandisers often promote products through many in-house advertisements. Discount and bulk buying schemes are often initiated by merchandisers.
Accountancy and Costing
Costing out the amount of stock and the per unit cost of every item of sale is also an important task of the merchandiser. Accounting of the entire trade that goes on during the time period is also done by the merchandiser. Setting the per unit cost of the trade is also an important task of the merchandiser and it is based upon the age group, average income, gender and group habits of the customer. A good pricing strategy, after all, keeps the customers happy.
Economical Study
Study of the economy is an important aspect of any merchandiser. In order to maximize their sales, merchandisers need to take up different studies of the economy and find out what the average customers want in a specific price range. For establishing the best price range, merchandisers take up a study of average incomes and also the pricing that is done by competitors.
Merchandiser Salary Range
If asked the question that what would be the average range of salary for a merchandiser, the honest answer would be, 'depends'. The salary range of a merchandiser depends on three principal factors, namely the establishment or company that the person is working for, retail sub-field and the position or the position of the person within hierarchy. According to some genuine census of the field of merchandisers, the entry-level job will get a monthly package of $15,000 to $25,000. In case of companies selling high-end designer goods, the salary might be also even higher. Finding a post in such a company is always difficult. The salary of quite an experienced person will go up to say $30,000 to $45,000. The salary of a top gun in the field will fetch a package of say, $50,000 to $60,000, but one will have to put in a lot of creative work and several years of work experience.
If you are fond of doing creative things then this is probably the best career path for you. The entry-level salary of a merchandiser might sound disappointing but as you progress, you will definitely benefit from a rising salary and immense job satisfaction.
