Assistant Buyer, Retail Salary
Assistant Retail Buyers in the United States can expect only a modest salary, with average pay of just $40K annually. Geographic location is the biggest factor affecting pay for this group, followed by career duration. Unfortunately, some people in this line of work are without benefits — nearly one in four lack coverage. On the flip side, a strong majority have medical insurance and a majority receive dental plans. Most Assistant Retail Buyers survey respondents are women (76 percent). Job satisfaction for Assistant Retail Buyers is extremely high. Participants in PayScale's salary questionnaire provided the particulars of this report.
Job Description for Assistant Buyer, Retail
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.Read More...
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.
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