Retail Buyer Salary
Job Description for Retail Buyer
Retail buyers are responsible for developing and buying merchandise for their store or department. The buyer analyzes data to predict what will be popular with shoppers to ensure those items are sufficiently stocked. For clothing and fashion, retail buyers often work closely with fashion designers to stay ahead of what is (and will be) popular in the fashion industry. Retail buyers may be required to travel to attend events such as fashion shows, trade shows, and fairs. They work with other teams in the organization to meet company quotas, sales volume, and margins. Retail buyers may also supervise an assistant buyer or buyers, who help with the ordering process and responding to vendor questions, among other tasks.Read More...
Retail buyers must build positive relationships to facilitate negotiation and collaboration. They work with vendors to resolve any issues with merchandise and execute large orders as well. Retail buyers monitor sales and inventory, looking in particular what is selling and what is not selling to take actions such as cancelling orders or discounting merchandise when necessary. Additionally, these professionals work with the marketing team on sales strategy, messaging, and product placement.
Experience in retail or catalog buying is generally required or preferred for these positions. A bachelor's degree in fashion merchandise, business management, or a related field is often preferred. Retail buyers must have excellent presentation, communication, and interpersonal skills, as well as proficiency with basic computer programs.
Retail Buyer Tasks
- Identify suppliers, select merchandise and negotiate bills of sale for a business.
- Inspect deliveries for shipping errors, improper handling, or quality issues.
- Ensure that orders are delivered on time and at cost.
- Resolve billing and shipping problems and provide information to suppliers.
Buyer Job Listings
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Popular Skills for Retail Buyer
Retail Buyers report using a pretty varied skill set on the job. Most notably, facility with Negotiation and Retail are correlated to pay that is significantly above average, leading to increases of 32 percent and 16 percent, respectively. Those listing Customer Service as a skill should be prepared for drastically lower pay. Data Analysis and Strategic Planning also typically command lower compensation. The majority of those who know Inventory Management also know Data Analysis.
Pay by Experience Level for Retail Buyer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Retail Buyers with a lot of experience do not necessarily enjoy more money. Workers in their first five years can expect to earn $42K, but people who have been around for five to 10 years earn a noticeably bigger sum of $48K. The average pay reported by folks with 10 to 20 years of experience is around $51K. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $57K.