A Retail Buyer, or Buyer, selects the goods that a retail store sells. They track consumer trends, locate suppliers and negotiate prices.
A Retail Buyer should be able to fulfill various duties and responsibilities. The following are some duties and responsibilities a Retail Buyer should be able to execute:
- Seeking out new suppliers and building relationships
- Reviewing and evaluating the current offerings available from suppliers
- Determining which goods to purchase and in what quantities
- Negotiating purchase terms with suppliers
- Analyzing inventory data to identify strong and weak sellers
- Advising marketing and merchandising departments on the best ways to display and promote items
A competitive Retail Buyer will have certain skills and qualifications, including:
- Thorough knowledge of the store’s niche and ideal customer profiles
- Networking skills to find new suppliers and continue to build relationships
- Decision-making skills to select items and purchase the right quantities
- Written and oral communication skills to compile reports and collaborate with other departments
- Negotiation skills to secure favorable pricing
- Computer skills to use spreadsheet, word processing and inventory management software
