Job Description:
Key Responsibilities
Position Summary
The Retail Buyer is responsible for selecting, purchasing, and managing a profitable assortment of merchandise aligned with company strategy. This role involves data-driven decision-making, supplier negotiations, forecasting, and collaboration with internal teams to ensure the right product mix is available at the right time and price.
Key Responsibilities
- Product Selection & Buying
- Analyze market trends, customer demand, and past sales to identify products with strong sales potential.
- Select merchandise assortments aligned with brand positioning and target customer demographics.
- Attend trade shows, supplier meetings, and industry events to source products and stay ahead of trends.
- Vendor & Supplier Management
- Identify, evaluate, and negotiate with vendors to secure optimal terms (pricing, delivery, payment, exclusivity).
- Maintain strong supplier relationships to improve reliability, resolve issues, and explore new opportunities.
- Ensure ethical sourcing and compliance with company standards.
- Inventory & Financial Management
- Manage Open-to-Buy (OTB) budgets and purchasing plans.
- Monitor inventory levels, sell-through rates, markdowns, and returns to maintain healthy stock turnover.
- Collaborate with inventory planning and replenishment teams for accurate forecasting.
- Cross-functional Collaboration
- Partner with Merchandising, Marketing, E-commerce, and Store Operations to ensure product launches and promotions align with strategy.
- Work closely with Visual Merchandising to ensure proper in-store presentation.
- Reporting & Analysis
- Analyze sales reports and KPIs (e.g., GMROI, sell-through, weeks of supply) to inform buying decisions.
- Track and report on performance vs. plan, identifying wins and opportunities.
Key Skills & Qualifications
- Bachelor's degree in Business, Retail Management, or related field.
- 2–5 years of retail buying or merchandising experience.
- Strong negotiation, financial, and analytical skills.
- Proficiency in Excel and retail planning tools (e.g., ERP, PLM, demand forecasting systems).
- Excellent communication and relationship-building abilities.
- Passion for product and understanding of customer behavior.