Senior Buyer, Retail Salary
Senior Retail Buyers in the United States tend to have a good amount of experience under their belt — a little under three-quarters have more than 10 years in the field. While pay runs from $41K to $127K per year, median earnings come to $74K per year. Experience level and the particular city each impact pay for this group, with the former having the largest influence. A fair number report receiving medical coverage from their employers and a little less than half collect dental insurance. The majority of Senior Retail Buyers claim high levels of job satisfaction. Women make up a slight majority of Senior Retail Buyers (59 percent) survey respondents. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
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|Salary||$42,000 - $116,236|
|Bonus||$900 - $30,000|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$41,217 - $126,817|
Job Description for Senior Buyer, Retail
Retail stores have a limited space for storage and displays related to the items they carry. This may be especially relevant for department stores and clothing retailers, where there are regular seasonal and style changes that need to be made. The senior retail buyer makes decisions about what items the retail store will buy to sell in its own floor space.The buyer must be aware not only of market trends throughout the industry, but his or her store's brand as well. The buyer typically consults market research data, and they may work with branding managers to ensure that all new merchandise fits with the store and its customers.Read More...
Retail buyers may also be used to assess brand strategy. They must be aware of which items are selling better than others and tailor purchasing strategy based on this data. Additionally, the senior buyer must maintain relations with vendors and wholesalers, as well as make sure the store gets prompt service to replenish stock in a timely manner.
To work as a senior retail buyer, a person typically must have some schooling after high school, such as a bachelor's degree in business or fashion design. Additionally, practical experience as an assistant or associate buyer in retail is often required, as the senior-level position is at a managerial level. Senior retail buyers typically split time working in an office, in a retail space, and in frequent job-related travel.
Senior Buyer, Retail Tasks
- Evaluate existing products and customers and seek new merchandise, and negotiate for the best price and quality.
- Request and evaluate bids, contextualizing products in line with overall brand.
- Assess and evaluate industry trends and sales, and provide analytics and forecasts to support decisions.
- Define requirements and timing for new merchandise purchasing and distribution.
Pay by Experience Level for Senior Buyer, Retail
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Senior Retail Buyers who reported more years of relevant experience also reported higher earnings. The average worker who claims fewer than five years of experience earns around $54K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $70K. Senior Retail Buyers claiming one to two decades of experience make an estimated median of $79K. More than 20 years of experience mean a somewhat bigger median paycheck of $83K, but it's not much more than what less experienced people make.
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Key Stats for Senior Buyer, Retail
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