Do you know that the items / products that you see on shelves in a retail environment are due to the effort that has been put in by dedicated retail buyers? It is true.
Retail buyers are hired specifically to make sure that product lines are selected and that good quality and availability of required products is made possible.
An associate’s degree in retail or merchandising is required if you want to work as a retail buyer. In addition to this, it is imperative for you to know and understand the retail world inside out, along with all other facets such as marketing and sales. If you have worked in any capacity in a retail environment before, you will know most of what there is to know about the work, and a little training will go a long way in helping you do your work successfully.
In addition to a degree, you will need to possess outstanding communication skills, an aptitude for successful negotiation, and familiarity with market research and data analysis. Forecasting trends and consumer buying patterns are activities that you will be performing quite often in this role. Moreover, you will need to work with vendors and suppliers, which is why it will be imperative for you to understand how to create and maintain effective relationships with them.
A list of duties associated with the work of a retail buyer are provided below:
Job Description for Resume Retail Buyer Resume
• Conduct market research and perform consumer trend analysis to determine the type and quantity of good required.
• Analyze sales trends and conduct consumer opinion surveys to understand future trends.
• Perform budget analysis and ensure that all retail buying tasks are conducted within allocated budgets.
• Handle cost and scenario analysis, and ensure that any associated problems are communicated to the supervisor.
• Evaluate supplier options in accordance with prices and quality and determine what decision are in sync with the company’s directives.
• Purchase new products and check the quality and popularity of those already on the shelf.
• Negotiate with vendors and suppliers to ensure that best prices and delivery timelines are decided upon.
• Monitor stock levels and budgets and ensure that all buying plans are made within provided budgets.
• Handle changes in demand and logistics according to the ups and downs of the retail market.
• Participate in promotional activities and merchandising work, ensuring that both marketing and sales teams are properly assisted.
• Manage plans for stock levels, and provide alerts during low stock situations.