Careers in Buying
Buying
Having a passion for products and getting the right items, at the right price, in the right quantity and in the right place, at the right time are key tasks in Buying. This is a commercial role and a Buyer will know who their customer is and what their requirements are, they will then source and put together a range of products working closely with designers and suppliers to continuously develop new ideas.
In addition to their passion for product, Buyers are often planning their ranges up to 12 months in advance so they need to be fairly analytical, interpreting sales history to identify their best and worst sellers and any new trends that are coming through. Retail is a fiercely competitive industry and Buyers need to be driven and have lots of energy. Most Buyers will travel the world, the hours are often long and no two days are the same, sitting at a desk from nine to five is not an option. A career in buying is demanding but also a lot of fun for the right sort of person.
Many leading retailers offer graduate schemes that give training in a broad range of retail functions before you commence a career in buying. Other retailers allow graduates to enter straight into their buying function as an assistant and offer structured training to enable development into a full Buyership. Buying is competitive and most graduates who are successful at securing a position tend to possess a degree in retail or business related subjects. For some industries such as Fashion Buying, employees will only consider candidates who have a degree in a fashion or textile related subject. A career in buying is often seen as being glamourous, however for those starting out the role can be highly administrative and clerical before you gain more experience and involvement in the products.
A typical career path in Buying
Trainee Buyer - £14,000 to £28,000 You will be responsible for placing orders, checking samples and keeping the critical path up to date before moving up to Assistant Buyer where you will support the Buyer on supplier visits, negotiations and range meetings before gaining sole responsibility for your own part of the range. Salaries increase steadily with more experience and responsibility gained
Buyer - £25,000 to £50,000 It can take 4 to 5 years before you gain your first Buyership. You will have responsibility for a whole product category / range and accountability for the open to buy. You will regularly visit suppliers, negotiate and source new products in order to build the range and ensure production is finished and products delivered on time. Salaries will depend on the size of your categorys turnover
Buying Manager - £40,000 to £60,000 You will be responsible for managing several buyers and overseeing several product categories/ranges. Salaries will depend on the number of Buyers you are responsible for and the combined size of your categories turnovers.
Buying Controller / Director - £50,000 to £100,000+ You will be responsible for several Buying Managers, their teams and a whole department. You will often set the range strategies, hold regular meetings with your Buying Managers and Buyers to review their range plans and give final sign off. Salaries will depend on the size of team and the turnover for the whole department
Typical job responsibilities of mid-level Buyers
Day to day
• Monitoring sales and identifying best and worst sellers
• Product development and sourcing
• Range development or selection
• Product negotiation
• Monitoring the critical path
Longer term
• Competitive shopping
• Customer awareness
• Supplier development
• Trend awareness
• Increasing sales and profit
