How market specialists service retailers -advisory services that allows t he buyer insight of her market without being

physically present in it market specialists -resident buying offices -fashion reporting services -retail reporting agencies -fashion forecasters -nonfashion services -industrial publications -consumer magazines -trade associations -specialists allow buyer to feel pulse of the market with out being present -provide market access to distantly located retailers -alert buyers about best-selling information -assess economic conditions that could affect merchandise planning proximity -local and regional markets may not satisfy merchandise needs -travel costs and time may be excessive for some retailers -broader merchandise availability at national markets communication -smaller retailers with smaller orders may not learn of new vend ors until too late -the influence of the RBO attracts new vendor, therefore smaller retailers can b ecome acquainted with the new vendors -information not restricted to new vendors -information can include shipping delays and market trends best seller notification -can turn season into profitable season -retailers want information about hot sellers not originally purchased by the re tailer, but of value to the retailer if right for their customer economic assessment -awareness of the economy is key to success -must understand the market in more than general terms -market specialists have their own specialists to provide necessary economic new s to their clients -inventory expansion generally occurs with positive economic news, contraction o ccurs with negative news resident buying offices -provide fashion information, advice, and services -located in major wholesale markets -purchase as directed for retail clients -types of RBO's: 1. the private office 2. the independent office 3. cooperative venture the private office -owned by the retailer not common -instrumental in success of the retailer -may be called a cooperate office -used by high volume retailers and retailers specializing in unusual items the independent office -largest type of RBO -caters to needs of smaller retail organizations -smaller organizations can benefit from services of the RBO -fee based services -scope of services vary with the needs of the retailer advantages of the RBO 1. increased merchandise effectiveness for smaller retai lers 2. information exchange provides another point of view 3. smaller retailer becomes more important to vendor 4. RBO services can reduce retailer risk 5. private label services may be available 6. smaller initial orders 7. RBO services help increase efficiency of entire retail operation 8. ability to procure foreign merchandise with out foreign travel selection considerations -client rosters (avoid competition) -services offered (purchase services needed) -cost of membership (services needed influence cost. need service at an affordab

le price) RBO Services -buying merchandise -order cancellation -finding new resources -merchandise recommendations -order follow up -group buying -hanfling complaints and adjustments -market week assistance -planning promotional activities -providing global market information -developing private label products -researching Other services -fashion reporting services -fashion consulting services -retail reporting services -fashion forecasters -nonfashion services -trade publications -consumer magazines -trade associations