A retail buyer occupies a higher-level position in retail. Retail buyers can be found working with large department stores, chain corporations, or smaller shops. They manage, oversee, and select the inventory sold in retail stores.
Retail buyers hold a lot of responsibility in the company they work for – not only with ensuring goods are stocked – but also in maintaining the company’s competitive edge. Retail buyers should have an extensive knowledge of their consumer base and patterns, their store’s inventory, as well as current and upcoming trends.
Retail Buyers Job Responsibilities
While the main job description of a retail buyer sounds fairly straightforward, there are many more granular responsibilities that come along with the position. Retail buying involves a working knowledge of data entry, product sourcing, tracking and merchandising analytics, and mathematics.
Many retail buyers enter the industry with a bachelor’s degree or certificate. Some of these degrees and certificates are in merchandising and management, retail marketing, business, or fashion merchandising. Getting a degree or certificate can help you better understand the software and mathematics necessary to the retail process.
Other responsibilities of retail buyers include:
- Price Negotiation
- Create and adhere to budgets
- Ability to use analytics and tracking software
- Monitor in-store inventory and trends
- Have knowledge of store competitors
- Place orders as needed
- Train new employees
- Communicate directly with suppliers
The day-to-day responsibilities of retail buyers vary depending on the company. A great retail buyer, however, will always be particularly savvy with identifying and keeping up with related industry trends.
Is a Job as a Retail Buyer Right for Me?
If you are someone who is decisive, interested in retail, and has the needed knowledge and skills, then becoming a retail buyer may be the right position for you.
Often, retail buyers operate one season ahead, anticipating what product will be in demand later that coming year, and even deciding which products (if any) should be discontinued.
Retail buying strategy combines creativity with analytical skills. People who make great retail buyers are not afraid of a challenge, great with analyzing trends, and are tactful decision makers.
Are you already in retail and looking for your next opportunity? Find a retail job near you today!
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