Buyer

A Buyer is responsible for selecting and purchasing merchandise for resale in a retail environment. They play a crucial role in determining what products a store offers, ensuring it aligns with current trends, customer demand, and the company's overall sales and profitability goals. They work closely with other departments, including merchandising and marketing, to ensure a cohesive product strategy.

Key Responsibilities

Trend Forecasting Researching and identifying emerging trends in fashion, style, and consumer preferences.

Product Selection Choosing which products to stock based on trend analysis, sales data, and customer feedback. This includes considering factors like price point, quality, and target audience.

Vendor Negotiation Negotiating prices, terms, and delivery schedules with suppliers and manufacturers.

Budget Management Developing and managing a budget for purchasing merchandise.

Sales Analysis Monitoring sales performance, analyzing data, and making adjustments to purchasing strategies based on results.

Inventory Management Working with inventory control to ensure optimal stock levels, minimizing overstock and stockouts.

Collaboration Working with visual merchandisers to create appealing product displays and with marketing to develop promotional campaigns.

Industries Retail fashion, department stores, specialty stores, online retailers, and any business that sells physical goods.

Typical Requirements

Education A bachelor's degree in business, fashion merchandising, retail management, or a related field is often preferred.

Experience Experience in retail, preferably in sales or merchandising, is valuable. Entry-level buyer positions may require internships or assistant buyer roles.

Skills

• Strong analytical and problem-solving skills.
• Excellent negotiation and communication skills.
• Knowledge of fashion trends, consumer behavior, and retail market dynamics.
• Ability to work under pressure and meet deadlines.
• Proficiency in data analysis and spreadsheet software.
• Strong organizational and time-management skills.
• Understanding of retail math and financial metrics.

How Do They Differ From Merchandisers and Creative Directors?

Buyers are responsible for what products are offered in a store. They focus on the selection and procurement of merchandise.

Merchandisers are responsible for how the products are presented and promoted in the store. They focus on visual merchandising, product placement, and marketing strategies to drive sales. They work closely with buyers to understand the product assortment and develop effective displays and promotions.

Future Outlook - Growth and Opportunity in a Changing World Employment for purchasing managers, buyers, and purchasing agents is projected to grow by 7% from 2023 to 2033, which is faster than the average for all occupations. About 61,100 job openings are expected each year, primarily due to retirements and transfers to other occupations. (Source: BLS)

Salary (All experience levels & industries. Before tax.)

Amsterdam Total Pay Range €49K - €75K/yr Median Total Pay €62K/yr

Antwerp Total Pay Range €4K - €5K/mo Median Total Pay  €4K/mo

Berlin Total Pay Range €48K - €58K/yr Median Total Pay €67K/yr

Brussels Total Pay Range €50K - €62K/yr Median Total Pay  €56K/yr

Ciudad de México Total Pay Range MX$21K - MX$35K/mo Median Total Pay MX$35K/mo

Copenhagen Total Pay Range DKK 27K - DKK 48K/yr Median Total Pay DKK 34K/yr

Dubai Total Pay Range AED 10K - AED 18K/mo Median Total Pay AED 14K/mo

Hong Kong SAR Total Pay Range HK$21K - HK$32K/mo Median Total Pay HK$25K/mo

Istanbul Total Pay Range TRY 6K - TRY 24K/mo Median Total Pay TRY 11K/mo

Johannesburg Total Pay Range ZAR 16K - ZAR 31K/mo Median Total Pay ZAR 21K/mo

Lagos Total Pay Range NGN 223K - NGN 387K/mo Median Total Pay NGN 250K/mo

LA Total Pay Range $80K - $140K/yr Median Total Pay $105K/yr

London Total Pay Range £34K - £55K/yr Median Total Pay £43K/yr

Melbourne Total Pay Range A$85K - A$146K/yr Median Total Pay A$113K/yr

Milan Total Pay Range €32K - €47K/yr Median Total Pay  €38K/yr

NYC Total Pay Range $81K - $146K/yr Median Total Pay $108K/yr

Paris Total Pay Range €41K - €57K/yr Median Total Pay €46K/yr

Sao Paolo Total Pay Range R$4K - R$8K/mo Median Total Pay R$6K/mo

Seoul Total Pay Range ₩46.3M - ₩70.8M/yr Median Total Pay ₩53.0M/yr

Singapore Total Pay Range SGD 3K - SGD 5K/mo Median Total Pay SGD 4K/mo

Stockholm Total Pay Range SEK 33K - SEK 41K/mo Median Total Pay SEK 37K/mo

Sydney Total Pay Range A$79K - A$129K/yr Median Total Pay A$96K/yr

Tokyo Total Pay Range ¥4.3M - ¥7.5M/yr Median Total Pay ¥5.7M/yr

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