Retail Buyer
What is a retail buyer?
A retail buyer is someone who selects and purchases products to be sold in retail stores or online.
What does a retail buyer do?
Usually, a retail buyer does the following:
- Researches and identifies trends in consumer demand
- Attends trade shows and visits suppliers to find new products
- Negotiates with suppliers to secure the best prices and terms
- Monitors inventory levels and adjusts orders accordingly
- Collaborates with other departments, such as marketing and sales, to develop sales strategies
What does the day-to-day life of a retail buyer look like?
A retail buyer usually works between 9am and 5pm, but may need to work longer hours during busy periods or when attending trade shows.
Every day, a retail buyer may:
- Analyze sales data and customer feedback
- Research and identify new products or suppliers
- Communicate with suppliers to negotiate prices and arrange deliveries
- Coordinate with other team members to plan promotional campaigns
Where does a retail buyer work?
Retail buyers can work in a variety of settings, including:
- Retail stores: Large retail chains often have their own buying teams who work in-house to select products for their stores.
- Online retailers: E-commerce companies may have retail buyers who focus on selecting products to be sold online.
- Wholesale companies: Retail buyers can also work for wholesalers who supply products to multiple retailers.
What tools/software/hardware does a retail buyer use?
A retail buyer may use the following tools and software:
- Retail management systems: These are software programs used to track inventory, sales, and purchase orders.
- Market research tools: These tools help retail buyers analyze consumer trends and competitor analysis.
- Communication tools: Email, phone, and video conferencing tools are used to communicate with suppliers and colleagues.
What do I need to become a retail buyer?
There are several paths to becoming a retail buyer, including:
- Bachelor's degree: Many employers prefer candidates with a degree in business, marketing, or a related field.
- Retail experience: Gaining experience working in a retail store can provide valuable insights into customer preferences and industry trends.
- Internships: Interning at a retail company or with a buying team can provide practical experience and networking opportunities.
What career paths are available?
There are several career paths available to a retail buyer, including:
- Senior Retail Buyer: With experience, a retail buyer can progress to a senior role, overseeing a team of buyers and making strategic decisions for the company.
- Category Manager: A category manager specializes in a specific product category and is responsible for its performance and profitability.
- Retail Merchandiser: A retail merchandiser works closely with buyers to plan and execute visual displays and promotional strategies.
What jobs are similar to a retail buyer?
- Purchasing Manager: In this role, you would be responsible for purchasing goods and services for a company, not necessarily in a retail setting.
- Inventory Planner: Inventory planners monitor and manage stock levels to ensure efficient supply and avoid overstock or shortages.
- Sales Representative: Sales representatives work with retail buyers to promote and sell their products to retailers.
What made you want to become a retail buyer?
How did you get your first retail buyer job?
What was the one thing that surprised you the most about being a retail buyer?
Are you a retail buyer? We want you to share your experiences with those looking to start or change their careers as a retail buyer. If you're interested, contact us at mail@calumchilds.com.