Retail Buyer - myFootpath

Retail Buyer Basics
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.

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.

How to get started as a Retail Buyer
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 field.

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.

Featured Online Schools for a Business Administration Degree:

• Argosy University Online – Request Information
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Featured Campus Schools for a Business Administration Degree:

• Rasmussen College – Request Information
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Compatible Personality Traits
Excellent communication skills, strong negotiator, highly organized, good with numbers, good with computers, keeps up with trends.

Salary Expectations for a Retail Buyer
The average salary for retail buyers is $44,640 a year, with the middle 50% earning between $33,640 and $60,590. As a bonus, retail buyers may receive performance-based bonuses and/or discounts on store products.

Job Outlook for a Retail Buyer
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.

Slightly off the Footpath
Fashion Design
Sales Representative
Costume Designer

Source: bls.gov/oco/ocos023.htm