A retail buyer selects merchandise and develops product assortments to grow the business and increase market share.
Retail buyers are responsible for developing product assortments using market trend analysis information as well as managing sales and margins. It is a multi-faceted position that includes contract negotiations, inventory management, sales planning, forecasting and close coordination with the merchandising and operations teams. Buyers will identify growth opportunities and risks in assortment, and develop contingency plans. This person will be expected to build strong vendor relations and put together solid business plans, including strong and detailed promotional programs. Some travel may be required.
Summary of Experience:
Retail buyers need a sense of retail and product trends and strong analytical experience. Previous retail experience required. Buyers will have computer skills and working knowledge of resource planning and forecasting. Excellent leadership, negotiating, and planning skills also a must.
A Bachelor's degree in retail, fashion, marketing or other related field preferred. Additional computer training may also be required.
Salary will vary with size of operation and number of departments buying is responsible for. Compensation ranges from around $45,000 to $80,000. Buyers generally receive full benefits package, and occasionally relocation allocation.