Sr. Merchandise Planner Salary
Job Description for Sr. Merchandise Planner
Senior merchandise planner positions are commonly available at retail stores, especially larger stores with large product volume. Many open positions do not require a specific educational background, although some do require or prefer a bachelor’s degree; at least three to five years of experience as an associate buyer, merchandise planner, or in some form of inventory control is needed as well. In addition, many companies require proficiency with basic computer programs, strong analytical and organizational skills, and excellent communication skills.Read More...
The position is based around monitoring product levels and identifying problems and opportunities related to the products being carried at the store. This involves creating regular reports on performance measures, as well as developing tools such as action plans to ensure continuous growth. Senior merchandise planners work with external product vendors and internal management to ensure that all demands are met and all plans are feasible. They work with various other departments as well, such as with advertising teams to ensure that advertised products are in stock at each location. This work also requires communication with ground-level employees who are responsible for physically maintaining the grounds.
The physical requirements for this job are limited, with only sedentary tasks such as extended periods of computer usage required. The work is generally indoors in a store or office environment. Hours may vary widely from company to company, but it is not uncommon to work during regular business hours.
Sr. Merchandise Planner Tasks
- Create and implement financial plans for sales, inventory, profit margin, and returns.
- Develop markdown and sales strategies based on analytics.
- Analyze sales, returns, and inventory to identify financial strategies and provide reports and metrics.
- Plan merchandise display and promotions from pre-season through every season, including pricing decisions.
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Pay by Experience Level for Sr. Merchandise Planner
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Relatively untried employees who have less than five years' experience make $77K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $91K. Senior Merchandise Planners bring in $92K after working for 10 to 20 years. Respondents who boast more than two decades on the job don't boast commensurate pay, unfortunately; these veterans see average earnings of only $85K.
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