Buying Simulation
Meet the Team
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Madison Perkins
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Anna Nguyen
Skills Used
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Retail Math
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Market Research & Analysis
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Excel Spreadsheets
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Sales Forecasting & Planning
First the Plan.
The plan started with creating a 2.5% increase in sales for the GAP brand. We devised this 6-month plan through careful research and thorough knowledge of how to create a buying plan. This plan is based on a predicted sheet of how the retail stock-to-sales ratio will be for each month of the season.
The Research & Justification
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This project was primarily justified through their collaboration with Katseye, where they reached over 8 billion digital impressions.
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To understand why there might be an uptick of sales and how to plan the sales, we needed to research the brand and its market stance. We found out information about H&M to understand the competition better and how their audience is similar to GAP’s.
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Back to school season during August and September is where we planned to increase our sales the most, especially since the collaboration was made during this time. Due to this we focused the most on these sales and the usual holiday sales.
Final Outcome
Developed a comprehensive buying strategy for GAP, using skills including retail math, sales forecasting, assortment planning, and purchase planning. We studied GAP to understand their stance in the market and how to create a plan meant for them, and how to compete within the market. Ultimately, this has further expanded on retail math and its applications in real-world scenarios.
