Unit of competency

Modification History

Not applicable.

Application

This unit describes the performance outcomes, skills and knowledge required to review the performance of retail merchandise during a specified trading period. It requires the ability to gather and analyse post-trade information to draw insights and conclusions and use these findings to make recommendations for improved merchandise performance.

This unit applies to individuals working in merchandise management related roles in a diverse range of retail sectors and business contexts. They operate with independence and are responsible for making a range of operational business decisions that relate to the management of merchandise.

No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication

Pre-requisite Unit

Nil

Competency Field

Merchandise Management

Unit Sector

Retail

Elements and Performance Criteria

Foundation Skills

Unit Mapping Information

No equivalent unit.

Links

Companion Volume Implementation Guides - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=ca051b1b-5101-4ec2-ac1c-49699303188d

Assessment requirements

Modification History

Not applicable.

Performance Evidence

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:

• source and analyse the following post-trade performance information from a six-month trading period, for one product category:

• financial performance
• product performance
• supplier performance
• customer feedback
• store feedback
• competitor activity
• promotional performance

• use findings from the above analysis to document a post-trade analysis report identifying:

• strengths
• weaknesses
• opportunities:

• new
• missed

• threats

• make recommendations for improved merchandise performance.

Knowledge Evidence

Demonstrated knowledge required to complete the tasks outlined in the elements and performance criteria of this unit:

• post-trade analysis:

• purpose
• role in informing merchandise strategy

• performance indicators and their role in post-trade analysis:

• financial:

• sales
• gross profit margin
• Gross Margin Return on Investment
• stock to sales
• stockturn
• sell-through rates
• average sale price
• unit sales
• purchase margin
• markdowns
• stock availability
• best and worst sellers
• full-price, markdown and promotional
• Stock Keeping Unit performance

• product performance
• supplier performance
• promotional performance
• competitor activity

• key stakeholders and their role in post-trade analysis:

• buyers
• planners
• production
• visual merchandisers
• stores
• management
• marketing
• warehousing
• customer

• techniques used to interpret financial and performance information
• types of conclusions that can be drawn from a post-trade analysis
• types of recommendations made following a post-trade analysis
• formats for post-trade analysis reporting.

Assessment Conditions

Skills must be demonstrated in a retail environment. This can be:

• an industry workplace
• a simulated industry environment.

Assessment must ensure access to:

• templates for post-trade analysis reporting
• financial and performance information for one product category over a six-month trading period:

• financial performance
• supplier performance
• competitor activity
• promotional performance
• product performance.

Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors, and:

• have worked in the retail industry for at least three years where they have applied the skills and knowledge within this unit of competency.

Links

Companion Volume Implementation Guides - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=ca051b1b-5101-4ec2-ac1c-49699303188d