How to become a Retail Buyer

Retail buyers purchase goods to be sold in retail stores. They may purchase goods locally, interstate or overseas. In large department stores, buyers may specialise in certain types of merchandise (textiles, fashion, hardware or toys, for example). In a national chain of stores, such specialist buyers may purchase merchandise for all stores or nominate brands to be stocked.

Personal requirements for a Retail Buyer

Enjoy clerical and administrative activities
Strong analytical skills
Knowledgeable and interested in the retail market
Good communication skills
Good negotiation skills
Good planning and organisational skills
Good with numbers
Willing to travel

Education & Training for a Retail Buyer

You can work as a retail buyer without formal qualifications. You will probably get some informal training on the job. Buyers usually begin as sales staff and are selected for advanced training in retailing. Usually only experienced sales staff are appointed to buying positions.Entry to this occupation may be improved if you have qualifications. You may like to consider a VET qualification. As subjects and prerequisites can vary between institutions, you should contact your chosen institution for further information.You can also become a retail buyer through a traineeship. Entry requirements may vary, but employers generally require Year 10. Alternatively, you can become a retail buyer by completing a degree in business, marketing or a related field at university. To get into these courses you usually need to gain your Senior Secondary Certificate of Education. Prerequisite subjects, or assumed knowledge, in one or more of English and mathematics are normally required. Universities have different prerequisites and some have flexible entry requirements or offer external study. Contact the institutions you are interested in for more information.

Duties & Tasks of a Retail Buyer

Retail buyers:

Obtain information from store executives, salespeople and sales records data about stock levels and fast-moving and slow-moving goods
Consider which goods will sell well in particular locations and what prices customers are prepared to pay
Research customer demands and trends by processing store sales and inventory reports
Manage and analyse stock levels and order points using computers and statistics
Try to anticipate changes in customer demand for particular goods, as goods must be purchased well before their sale to customers
Inspect, compare and select goods at manufacturers' or agents' premises
Contact suppliers to replenish stocks
Be aware of relevant legal information such as consumer rights and store licensing
Communicate frequently with store management to discuss planning, budgeting, sales promotions and advertising campaigns
Attend trade fairs and other displays interstate and overseas to obtain information about the range of products available.

Tasks

Anticipates consumer trends and determines quantity, style and quality of goods to be purchased.
Monitors sales data and stock levels, and studies trade, manufacturers' and market information to keep informed of changing market conditions.
Negotiates purchase, promotion and supply arrangements with suppliers.
Liaises with management on long-term planning and sales promotions.
Designs and implements pricing, marketing, promotional and display strategies.
Establishes working plans according to seasonal and budgetary requirements.

Working conditions for a Retail Buyer

In small businesses, owners normally do their own retail buying after consultation with their staff.

Employment Opportunities for a Retail Buyer

Retail buyers are employed by department stores, retail chains and smaller retail shops. Most large and medium retailers, which are usually located in the capital cities, have teams of buyers. With experience, and sometimes further training, it is possible to become a supervisor or manager. Experienced buyers can also become self-employed, offering their services on a freelance basis.

Specializations

Retail Buyer

Average age
37
Future Growth
N/A
Gender Share
61% female
Average full-time
43 hours
Weekly Pay
N/A
Skill level rating
Very high skill
Unemployment
Lower unemployment
Full-Time Share
84%
Employment Size
4,200
Employment by state
ACT: 0.2%
NSW: 38.3%
NT: 0.1%
QLD: 10.6%
SA: 4.0%
TAS: 0.7%
VIC: 41.5%
WA: 4.6%
Age brackets
15-19: 0.1%
20-24: 5%
25-34: 39.2%
35-44: 28.6%
45-54: 16.3%
55-59: 4.9%
60-64: 3.1%
65 and Over: 2.7%
Education level
Advanced Diploma/Diploma: 16.4%
Bachelor degree: 35.4%
Certificate III/IV: 8.5%
Post Graduate/Graduate Diploma or Graduate Certificate: 7%
Year 10 and below: 6.8%
Year 11: 3.7%
Year 12: 22.3%