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Retail Buyer
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About
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">A retail buyer is a professional responsible for selecting and purchasing merchandise for a retail store or chain. This includes analysing market trends, negotiating with suppliers and determining the product assortment for the store. Retail buyers typically work for department stores as well as in e-commerce companies.</span></span></span></span></p> <p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Furthermore, the primary duties of a retail buyer include identifying consumer needs and preferences, researching market trends, analysing sales data and collaborating with suppliers to determine product pricing as well as availability. They are also responsible for managing inventory levels and deciding which products to stock, how much to order and when to reorder.</span></span></span></span></p>
Eligibility
<p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff"><strong><u>For Bachelor’s</u></strong></span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Scholars must pass 10+2 with at least 55% marks from any recognised board. </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Furthermore, the aspirants must enrol in a Bachelor’s degree in marketing, media, textiles or fashion.</span></span></span></span></li> </ul> <p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff"> </span></span></span></span><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff"><strong><u>For Masters</u></strong></span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">To gain market knowledge, the candidates can enrol for MBA in Marketing management, which would be a plus point for the seeker to secure a job easily in top companies. </span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Moreover, the students can also apply for a Master’s degree in merchandising.</span></span></span></span></li> </ul>
Top Colleges/Universities
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Various institutions offer programs including undergraduate and postgraduate courses in retail management, fashion merchandising and supply chain management. Students can choose the program that best aligns with their career goals and interests. Additionally, many of these institutions have partnerships with top retail companies providing students with internships and job placement opportunities.</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">National Institute of Fashion Technology (NIFT)</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Pearl Academy</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Indian Institute of Management (IIM) - Ahmedabad</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Symbiosis Centre for Management and Human Resource Development (SCMHRD)</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">National Institute of Retail Management (NIRM)</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">KJ Somaiya Institute of Management Studies and Research</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Welingkar Institute of Management Development and Research</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Institute of Apparel Management (IAM)</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Birla Institute of Management Technology (BIMTECH)</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Amity Global Business School</span></span></span></span></li> </ul> <p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Several prestigious universities and colleges abroad offer courses in retail management and merchandising which can prepare students for a career in retail buying. Here are some of the top colleges and universities for retail buyers:</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Fashion Institute of Technology (FIT) - USA</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">New York University (NYU) - USA</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">University of Westminster - UK</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">London College of Fashion - UK</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">University of Manchester - UK</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">European Business School (EBS) - Germany</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">EMLYON Business School - France</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">University of Applied Sciences HTW Chur - Switzerland</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Amsterdam Fashion Institute - Netherlands</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Copenhagen Business School - Denmark</span></span></span></span></li> </ul>
Job Roles
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">The job role of a retail buyer typically involves the following duties and responsibilities:</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Trainee Buyer</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Senior Buyer</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Assistant Buyer</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Buying Director</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Retail Salesperson</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Retail Buyer</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Sales Engineer</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Purchasing Manager</span></span></span></span></li> </ul>
Top Recruiters
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">As a retail buyer, there are a variety of industries and companies that you can work for. Here are some of the top recruiters of retail buyers:</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Department stores</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Fashion retailers</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">E-commerce companies</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Consumer goods manufacturers</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Supermarkets and grocery stores</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Luxury brands</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Sports and outdoor retailers</span></span></span></span></li> </ul>
Salary
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">The salary of a retail buyer can vary depending on factors such as experience, location, company size and industry. Here is a general overview of the salary range for retail buyers:</span></span></span></span></p> <p> </p> <div> <table cellspacing="0" style="border-collapse:collapse; border:none; width:100%"> <tbody> <tr> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:215px"> <p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff"><strong>Level of Salary</strong></span></span></span></span></p> </td> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:332px"> <p style="text-align:center"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff"><strong>Salary Package per Year</strong></span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:215px"> <p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Starting Salary</span></span></span></span></p> </td> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:332px"> <p style="text-align:center"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Approx Rs 4,00,000</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:215px"> <p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Mid Level Salary</span></span></span></span></p> </td> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:332px"> <p style="text-align:center"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Approx Rs 11,50,000 </span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:215px"> <p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Senior Level Salary</span></span></span></span></p> </td> <td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:332px"> <p style="text-align:center"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Approx Rs 20,00,000 </span></span></span></span></p> </td> </tr> </tbody> </table> </div>
Skills
<ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Product knowledge</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Analytical skills</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Negotiation skills</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Communication skills</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Planning and organisation</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Adaptability</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Financial acumen</span></span></span></span></li> </ul>
Scope
<p style="text-align:justify"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">The career scope for retail buyers is broad as they play a crucial role in the success of a retail business. Here are some of the career paths that retail buyers can pursue:</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Senior buyer</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Merchandising manager</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Category manager</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Sales and marketing</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Entrepreneurship</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">International opportunities</span></span></span></span></li> </ul>
Benefits
<p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Retail buyers enjoy a range of benefits including:</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Career growth</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Variety of work</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Exciting industry</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Good compensation</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Travel opportunities</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Creative outlet</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Industry insights</span></span></span></span></li> </ul>
Drawbacks
<p><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">While being a retail buyer can be a rewarding career there are some potential drawbacks to consider including:</span></span></span></span></p> <ul> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">High-pressure environment</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Long hours</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Stressful decision-making</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Limited creativity</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Limited control</span></span></span></span></li> <li style="list-style-type:disc"><span style="font-size:12pt"><span style="font-family:Arial"><span style="color:#000000"><span style="background-color:#ffffff">Frequent travel</span></span></span></span></li> </ul>
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