Responsible for product management in Malabar Gold & Diamonds retail showrooms of the assigned region by ensuring right product mix, product range, inventory levels, etc.to achieve the projected business growth while ensuring an optimal inventory level.
ü Manage the entire product life cycle - product range management, new product identification, analysing the stock, liquidation, Pricing, effective display etc.
ü Understand the domestic jewellery marketplace and its target markets of the assigned Region.
ü Conduct market research to gather a detailed and in depth understanding of market trends, customer preferences and competitor offerings.
ü Manage the product portfolio in stores by understanding the respective market, customer preferences, spending capacity and competitor business.
ü Identification of product gaps and need for refreshers based on feedback from MGD retail stores and market trends.
ü Ensure delivery of products as per the identified product gaps in the MGD retail store through MGD Supply Chain centres.
ü Manage the development of annual, seasonal, monthly and weekly merchandise plans based on Customer demand, seasonal preferences etc.
ü Review the age of stocks and decide on promotions / offers for liquidation of these or to be taken for melting as per the policy.
ü Review the sales performance of stocks at each store level to decide on addition/deletion/ movement of stocks between stores at a variant level within each category and price/weight band.
ü Analyse sales performance at variant level to decide on bestsellers that would be populated and supported through the chain.
ü Responsible to allocate merchandise to each outlet on the basis of past performance and market potential.
ü Coordinate with stores to develop pre-season plans; recommend purchase quantities and develop accurate receipt flow forecasts.
ü Recommend the pricing of products in each category and price / weight band to optimize the mix in terms of the difference to the market while delivering the profitability of the category.
ü Conduct gap analysis in the design portfolio; identify new products range and coordinate with the stores and SCM to supply merchandise.
ü Liason with internal (corporate, region, retail, supply chain and manufacturing centres) and external agencies (vendours) to deliver the unique/relevant collections.
ü Monitor the merchandise movement; consider price variations, inter-store transfers, promotions or stock clearance etc. as and when required.
ü Provide specialized sales training to employees on different product categories.