Daily Life of a “Buyer” in Retail World
Buyers at a retail enterprise is responsible for identifying, selecting and purchasing the stock that is sold in stores. In some enterprises, they are called Procurement specialists.
On a daily basis, a Buyer deals with the following tasks and issues:
- With respect to products, Buyers receive & respond to multiple product inquiries.
- New Producs – Review and analyze samples before listing on the website.
- Old Products – Review the sales performance & maintain competitiveness.
- Stock Control – Review stock and stock attributes (e.g. UPC numbers, stock levels, tracks down products which came without UPC)
- With respect to vendors, Buyers look for the right suppliers for new products, logistics details such as minimum order levels, shipping policies, location and country of origin product catalog, how long they have been in business, how often they launch products, values (green, social responsibility)
- New Vendors – Meet & explain the business model, negotiates price, gets UPCs, reviews online content (for images, content and shipping/delivery policies)
- Existing Vendors – Meet & discuss sales and the performance of different marketing campaigns