What does a Retail Buyer do?
Published 3 min read
A retail buyer is responsible for purchasing products that will be sold in a retail setting. They must be able to forecast trends, negotiate with suppliers, and manage inventory.
Retail Buyer job duties include:
- Reviewing previous sales and trends to anticipate consumer buying patterns
- Researching and planning purchasing of merchandise in order to maintain stock levels and ensure availability of products
- Meeting with vendors to discuss pricing, product availability, and new products
- Analyzing sales reports to identify areas where inventory levels need to be adjusted
- Negotiating prices with vendors in order to get the best possible price for merchandise
- Creating purchase orders for merchandise and sending them to vendors
- Tracking shipments of ordered merchandise and following up with vendors on any delays
- Resolving any issues with vendor orders, such as damaged or missing items
- Maintaining relationships with vendors by regularly communicating about product needs and concerns
Retail Buyer Job Requirements
A retail buyer is responsible for purchasing merchandise for a retail store. They must be able to negotiate prices with vendors, and select merchandise that will sell well in the store. A retail buyer typically needs a bachelor's degree in business or a related field. Some employers may require certification from the National Retail Federation. Retail buyers typically have 2-5 years of experience working in retail, preferably in purchasing or merchandising.
Retail Buyer Skills
- Analytical skills
- Profit and loss analysis
- Inventory management
- Financial analysis
- Supply and demand planning
- Category management
- Product development
- Merchandising
- Vendor relations
- Negotiation skills
- Retail math
Related: Top Retail Buyer Skills: Definition and Examples
How to become a Retail Buyer
A retail buyer is responsible for purchasing merchandise for a retail store. They must be able to select the right merchandise at the right price and negotiate with suppliers to get the best possible price. Retail buyers need to have strong math and analytical skills to be able to forecast sales and understand financial reports. They also need to be excellent communicators and have strong negotiation skills.
If you are interested in becoming a retail buyer, you will need to have a bachelor's degree in business, economics, or a related field. Many retail buyers start out as merchandisers or assistant buyers and then move up into a buying position. Experience in the retail industry is also helpful. To be successful as a retail buyer, you must be able to work well under pressure, be organized, and have good time management skills.
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