Retail Buyer Careers Information
Retail buyers purchase goods from manufacturers in order to resell them to consumers. They must negotiate the lowest price possible so that the company will make the most money during the product’s resale. Using computers to monitor inventories, retail buyers must make sure their stores never run out of a popular item nor waste valuable shelf space with unwanted goods.
Retail Buyer Careers & Degrees
- Art Institute of Pittsburgh: Online
The best retail buyers know their customer base well, keep an eye on the competition’s prices, and stay on top of current trends in order to maximize profits.
Retail Buyer Careers Path
The amount of education required depends on the size of the organization, with larger companies often looking for buyers who have a Bachelor’s or even Master’s degree in a business related field. Degrees in Fashion merchandising and Retail merchandising are also great ways to get into the retail buyer careers.
Many companies, however, hire as retail buyers those who have experience with the company or in the industry. Thus, many retail buyers begin as sales clerks or store managers and move their way up, gradually gaining more buying responsibilities with more experience.
Retail Buyer Careers: Compatible Personality Traits
Excellent communication skills, strong negotiator, highly organized, good with numbers, good with computers, keeps up with trends.
Retail Buyer Careers: Salary Expectations
The average salary for retail buyers is $48,710 a year, with the middle 50% earning between $36,460 and $66,090. As a bonus, retail buyers may receive performance-based bonuses and/or discounts on store products.
Retail Buyer Careers: Job Outlook
As companies merge and technology makes workers more efficient, fewer positions will be available. Those with a Bachelor’s or Master’s degree and experience in the industry will have the best chance of finding employment, especially at larger firms.
According to the Bureau of Labor Statistics, the field of retail buying is expected to decrease by 2% through 2018.
Slightly off the Footpath
Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2010-11 Edition, Psychologists, on the Internet at http://bls.gov/oco/ocos023.htm (visited November 9, 2011).
