Every item carried in every store has been selected by a retail buyer. The owner of a small retail business functions as a retail buyer when ordering the store's merchandise; but large retail stores or chains of stores employ professionally trained buyers to make decisions and purchases involving thousands, and sometimes millions, of dollars. The difference between a retail buyer and a purchasing agent is in the ultimate use of what they buy. The buyer purchases goods for resale; the purchasing agent buys materials to be used by his or her firm.
This is an exciting, fast-paced, often nerve racking job. The buyer must order merchandise that will satisfy the store's customers, sell at a profit, and move on and off the store's shelves within a reasonable time. With clothing and a number of other items, this means seasonally. Buyers must be familiar with manufacturers and distributors, be aware of fashion trends and local customer preferences, and work within the budget allotted for a particular store or department. They must be able to stock the basics as well as take advantage of unexpected good buys or fad items.
Buyers work closely with sales workers to keep up with customer likes and dislikes, and they study and analyze past store sales records and market research reports. They must be aware of the merchandise and prices of competitors and keep track of economic conditions in the area where their customers live.
Some buyers are assisted by junior buyers who handle routine chores such as verifying shipments. Junior buyers may also be involved in sales and often take part in store training programs.
Merchandise managers coordinate all the buying and selling activities of a large store or chain. The merchandise manager decides what merchandise to stock, devises the budget, and assigns different buyers to purchase certain items or lines of goods. Merchandise managers are also involved in sales promotion.
Places of Employment and Working Conditions
About two-thirds of all buyers and merchandise managers work for retail stores. Although buyers are found in all parts of the country, most job opportunities are in cities and large metropolitan areas such as New York City, Chicago, and Dallas.
Buyers often work more than 40 hours a week. Depending on the store's location and the type of merchandise being purchased, a buyer might travel as little as four or five days a month or might spend one-third of his or her working time in travel. Some buying trips are glamorous—to Paris, for example, for a showing of ladies' fashions—while most are routine but fast paced.
Qualifications, Education, and Training
If you are interested in this field, you must be able to stand the pace and the pressure. You must be a good planner and able to make decisions, have good leadership and communication skills, and be assertive.
Many buyers have worked their way up the ladder from sales or stockroom positions. Others attend junior and four-year colleges that offer degree programs in marketing and purchasing. Many trade schools offer courses in fashion merchandising.
More and more employers are requiring college training, especially those who include buyers in their management of executive training programs. Most employers will accept applications from almost any field of college study and consider courses or experience in merchandising, fashion, sales, or business a plus.
The formal training programs in retail stores usually last several years and include classroom instruction combined with rotating assignments to various jobs and departments. The buyer trainee's first job will probably be as assistant or junior buyer.
Potential and Advancement
Job opportunities in this field will grow slowly—2 percent, according to the Bureau of Labor Statistics—through the next decade, with most openings occurring to replace those who leave the field. Increasing use of computers for inventory control and reordering merchandise will also limit employment growth in the coming years.
This is a popular career field, and competition for available openings will be keen. College graduates with courses or experience in relevant areas will have the best chance of securing choice positions.
It takes years of experience as a buyer to advance to the position of merchandise manager. A few experienced buyers and merchandise managers can also advance to top executive positions in store or chain management, but these positions are limited by the size and growth of the company.
Income
Salaries depend on the product line purchased, sales volume of the store, and seniority. Discount department stores, mass merchandising firms, and large department store chains offer the highest salaries. Buyers often earn large bonuses for exceptional performance and are included in store incentive plans such as profit sharing and stock options. The Bureau of Labor Statistics estimates that the median annual salary for retail buyers was $59,270 in 2015.
