The design and management of store, catalog, and Internet-based retail channels. Topics include how retailers create value for the producer and the end user, the financial and marketing strategies that underlie retailing formats, target marketing decisions, merchandise management, how retail price promotions work, managing customer service, and the execution of retail marketing decisions. Mini cases, video cases, an applied project, and guest speakers from industry will be utilized to provide practical illustration of various concepts and stimulate class discussion.

Designed to demonstrate the newest technologies and analytical methods that aid how merchandise may be procured, managed, and sold in various retailing establishments, the ART AND SCIENCE OF MERCHANDISING is a combination of lectures and discussions with conversations led by the industry guest speakers to showcase the real-world merchandising decision making. Students experience the merchandise procurement process, and develop, propose and defend effective merchandise planning decisions.

• Evaluate the effectiveness of the private brand strategy for retailers.
• Describe and evaluate different product recommendation systems and the algorithms that support such systems.
• Propose and defend sales promotion strategies for retailers.
• Articulate the key factors in visual merchandising decisions.
• Understand how retailers can use search engines to refine their merchandising decisions.
• Understand key elements in the merchandise decisions for various industries, including luxury, travel, grocery, fashion, department stores, etc.

Innovation has found its way into retailing from many places: Entry of horizontal platforms (Amazon, Alibaba.com, eBay, Google Shopping), vertical platforms (Wayfair), manufacturers (Nike) and digitally native brands that are born on the web and sell directly to end consumers (Purple, Allbirds, Zennis, Lulus) and the responses of incumbent retailers (HEB, Petco).

These innovations have created new edges (boundaries) in retail space that highlight new consumer needs in retailing. Innovation, Disruption & Acceleration in the Retail Industry focuses on retail innovation with focus on research projects and analysis that answers what is the new competitive structure of the retail industry? Who is winning and where? What are the consumer needs and how has the changing economics and margin structure directed a need for alternate revenue streams?

RMI Internships represent an opportunity to experience and have exposure to the retail industry. An RMI internship provides a diverse view of company culture, business and corporate branding and strategy. Students build and utilize core skills including leadership, organization, collaboration and communication to develop and prepare for an impactful career journey in the retail and retail technology industry.