Retail buyers are often called a “wholesale retail buyers” or a “merchandise buyers.” They are responsible for understanding trends and knowing what types of products customers want to purchase and then stocking those items in their stores. In order to be successful retail buyers must thoroughly understand the demands of the market what types of items their store wants to stock and how much money they have been allotted to spend on goods. They must also understand the level of reasonable mark-up on the items they want to buy so they can ensure it will make financial sense to stock certain merchandise. According to the website www.prospects.ac.uk retail buyers must be keenly aware of rapid changes in trends and fads that come and go quickly. They must be able to react very fast to market demands and be able to obtain “hot” items as fast as possible. Retail buyers endure a considerable level of stress throughout their careers. If they make the wrong decisions on the items they purchase for their store the result could be financially disastrous and could cause bankruptcy. Retail buyers must travel quite a bit for their jobs. They attend trade shows in the United States and abroad in order to select items for upcoming seasons and they must maintain communication with their suppliers at all times to ensure that their merchandise orders are shipped in a timely manner. Typically employers want their retail buyers to have a bachelor’s degree with a major in a subject related to fashion design fashion buying economics or business. It is also helpful when retail buyers are fluent in a foreign language – – especially a language native to the country where purchases are commonly made. The website www.cbsalary.com lists the average salary for retail buyers between $32140 and $59958 per year.
|Education Required:||Bachelor's Degree|
|Tasks:||Understands the needs of customers.
Keeps up-to-date on market trends.
Reacts to changes in demands from customers.
Analyzes consumer buying patterns.
|Also Called:||Merchandise Buyer