Buyer

A buyer is normally employed by a retail store, and the job is demanded in all of the retail areas, from large-scale stores to small, family-based ones. The buyer is responsible for purchasing the goods sold in the store, which includes several parts. First, the buyer needs to assess the store’s demands, taking customer opinions into consideration, and afterwards they also need to seek out the best dealers for the appropriate type of goods. Often a buyer will be responsible for introducing new products to the store’s line as well.

The education requirements vary depending on the size of the store involved, and larger stores will often require at least a bachelor’s degree in economics or finances. Previous experience in retail is usually of great benefit to the candidate, as is showing specific knowledge of the merchandise at hand. A buyer must have good bargaining and negotiating skills, in order to be able to find the best prices for the store. Buyers must also be responsible in financial operations, as their performance is of direct influence to the store’s success.

Buyers are among the highest-compensated employees in a retail store, receiving salaries of $70,000 and upwards. The median salary for 2009 was $72,000, and some buyers are able to earn up to $100,000 if employed by a larger chain of stores and if they have enough qualifications and working experience. The prospect for finding employment at a different retail chain is very good for those who’ve built up a good number of years’ worth of experience.

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