An assistant buyer in retail is part of the buying team, which also includes trainee buyers and managerial buyers. Buyers negotiate with suppliers to decide what items should be restocked in a store. This decision is made based on a number of factors, and it can affect the whole industry since it results in certain products trending in the market by simply being in stock.
An assistant buyer can land a job in various workplaces, ranging from department stores to niche boutiques. Conventions are held annually and monthly around the country for buyers in various industries, such as fashion and technology. Assistant buyers are expected to attend these events and engage in other social commitments so they'll stay current on what is and isn't selling. Foreseeing future trends is an essential skill that an assistant buyer must possess. The elements of prediction and anticipation are important because they are proportionally related to how much profit a business earns. That said, it becomes fairly intuitive for an experienced buyer to make educated buying decisions after having done the necessary research.
Having a bachelor's degree in sales, marketing, or a related field may be preferred or required for this position, but the most important requirement is that a buyer has in-depth knowledge of their field and buying. A buyer can expect to work irregular hours and frequently travel because of the nature of the changing buyer's market.
Assistant Buyer, Retail Tasks
Assist buyers and managers with writing purchase orders, buying merchandise, and managing inventory.
Research suppliers to determine which ones fit company pricing and quality objectives.
Advise retail outlets how to price products based on purchase price and market trends.