Before clothing hits the racks, a buyer may have selected the merchandise based on consumer need.
If you ever wondered where your favorite clothing item originally came from, remember that a retail buyer may have played an important role. Before it touched store shelves, a retail buyer handpicked the piece. Items sold at stores can come from wholesale or manufacturing firms that depend on a retail establishment for business. Retail buyers represent clothing, accessory and general merchandise stores to purchase mass quantities that are later resold to the public.
Roles
Retail buyers look for the highest quality items at the lowest possible cost. According to the Occupational Information Network, these employees choose merchandise by analyzing previous buying trends, past sales records, and price and quality of merchandise. A buyer determines the value and yield of the merchandise prior to purchasing from a wholesale or manufacturing firm. A buyer may also negotiate the price of wholesale goods with the manufacturer. Upon agreement of purchase cost, a retail buyer selects, orders and authorizes the payment for merchandise, based on contracts. A retail buyer may be responsible for setting or recommending mark-ups, mark-downs and selling prices. A buyer may lead meetings with sales personnel to introduce new products.
Environment and Hours
According to the U.S. Bureau of Labor Statistics, retail buyers can be found in comfortable offices. Buyers typically work more than the 40-hour workweek due to sales, conferences and deadlines. Evening and weekends are also common during peak seasons, especially during the holiday rush. Retail buyers may travel to meet with wholesale and manufacturing firms, sometimes outside of the U.S.
Education and Training
According to College Board, an education alone will not be enough to acquire a position as a retail buyer, and work experience is necessary in this trade. Most trainees begin in sales with responsibilities that include checking invoices on received material and keeping track of merchandise. As these workers progress, those who perform well are given buying-related duties. Educational requirements vary in accordance to the size and scope of the organization itself. Employers in large stores look for job applicants who have completed a bachelor's degree program with a business emphasis. Some may prefer a master's degree in business, engineering, economics or an applied science.
Salary
According to the U.S. Bureau of Labor Statistics, wholesale and retail buyers earned a national mean hourly wage of $26.68 and a national mean annual wage of $55,480 in May 2009. Industries that employed the highest number of wholesale and retail buyers included management of companies and enterprises with an annual mean wage of $61,910; wholesale electronic markets and agents and brokers, $61,460; grocery and related product merchant wholesalers, $55,910; grocery stores, $41,110; and machinery, equipment and supplies merchant wholesalers, $51,720.
Job Outlook
According to the National Employment Matrix from the U.S. Bureau of Labor Statistics, employment for wholesale and retail buyers will experience a decline of 2 percent through 2018.
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