Wholesale & Retail Buyers
Also called: Buyer, Category Manager, Procurement Specialist, Trader
Video transcript: skip transcript
Wholesale and retail buyers purchase products like clothing and electronics for stores and organizations to sell or use. They have two major goals: to buy goods their company can sell at a profit, and to increase their customer base by offering products that consumers want. Buyers are successful if they choose merchandise that sells, and fail when warehouses and store racks are left with unwanted goods. That makes for a lot of pressure in this position! The most challenging part of the job is predicting which items will be popular. To do this, buyers must understand both their product and their customers. They visit trade shows and showrooms for ideas, and research trends in their product area. They analyze economic conditions, study past sales records, and listen to customer feedback to identify buying patterns. Wholesale and retail buyers often specialize in one or two types of products when working for a large organization, and must be familiar with a larger variety of products when working for a smaller business. They carefully select product suppliers that will meet the quality, cost, and delivery date promised. Extensive retail experience is required to become a buyer, along with a high school diploma, or for some positions, a bachelor’s degree in a retail or business related field. This career depends on good planning skills, decisiveness, and the willingness to trust your intuition.
What they do:Buy merchandise or commodities, other than farm products, for resale to consumers at the wholesale or retail level, including both durable and nondurable goods. Analyze past buying trends, sales records, price, and quality of merchandise to determine value and yield. Select, order, and authorize payment for merchandise according to contractual agreements. May conduct meetings with sales personnel and introduce new products. Includes assistant wholesale and retail buyers of nonfarm products.
On the job, you would:
- Buy merchandise or commodities for resale to wholesale or retail consumers.
- Negotiate prices, discount terms, or transportation arrangements with suppliers.
- Examine, select, order, or purchase merchandise consistent with quality, quantity, specification requirements, or other factors, such as environmental soundness.
Arts and Humanities
Math and Science
Engineering and Technology
Ideas and Logic
People interested in this work like activities that include leading, making decisions, and business.
They do well at jobs that need:
You might use software like this on the job:
Point of sale POS software
Materials requirements planning logistics and supply chain software
You might like a career in one of these industries:
See more details at O*NET OnLine about wholesale and retail buyers.