How much does a Retail Buyer make?
- The average retail buyer makes $53,829 in the United States.
- The average hourly pay for a retail buyer is $25.88.
- The average entry-level retail buyer salary is $40,000.
- The highest-paying states for retail buyer are New Jersey ($66,546), Ohio ($66,191), New York ($66,546) and Connecticut ($66,546).
What is the average salary of a buyer?
The base salary for Buyer ranges from $63,278 to $79,438 with the average base salary of $70,766. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $64,349 to $81,934 with the average total cash compensation of $72,347.
What is the average salary of a retail buyer?
The average salary for a Retail Buyer is $55,090. Visit PayScale to research retail buyer salaries by city, experience, skill, employer and more.
How much does Best Buy make in sales?
How much does a Sales Associate make at Best Buy in the United States? Average Best Buy Sales Associate hourly pay in the United States is approximately $13.50, which is 15% above the national average.
How much do top eBay sellers earn?
How much does a Seller make at eBay in the United States? Average eBay Seller yearly pay in the United States is approximately $37,636, which is 35% below the national average. Salary information comes from 23 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months.
Is buyer a good career?
Yes, being a buyer is a good career. A buyer can earn around $80,000 a year, depending on the company and location. In addition, being a buyer can be very exciting and rewarding work. As a buyer, you may get to travel to different countries to look at showrooms and manufacturers.
What does a buyer for a store do?
A Retail Buyer is a professional who plans, manages, and selects goods to be sold in retail stores to ensure their own company's competitiveness with other retailers. They continually look for new products and review existing ones to ensure they're up-to-date on current trends.
Are retail buyers in demand?
Demand for Wholesale and Retail Buyers of Non-Farm Products is expected to go down, with an expected -430,160 jobs shed by 2029. This represents an annual decrease of 5.69 percent over the next few years. Join our career community today!
Do buyers travel a lot?
Buyers work long and sometimes unusual hours, traveling to fashion shows, industry conferences, seminars, and trade shows. They investigate producers' lines, then place orders, usually with a limited amount of discussion.
What skills do you need as a buyer?
To become a Buyer, you will need to have:excellent communication skills.negotiating skills.an aptitude for figures and the ability to manage a budget.an analytical mind.IT skills.an interest in the activities of your own organisation.More items...
What qualification do you need to be a buyer?
To go straight into a buying role, you'll usually need a qualification in retail or business. It's possible to get experience in retail on the shop-floor, in visual merchandising, or as an admin assistant in a buyer's office. You can then spend time learning, doing training and getting qualifications on the job.
How do I become a good retail buyer?
Retail buyers need a sense of retail and product trends and strong analytical experience. Buyers should have computer skills and a working knowledge of resource planning and forecasting. Excellent leadership, negotiating, and planning skills also are a must. Previous retail experience often is required.
What to study to be a retail buyer?
Degree: A Bachelor of Science (BSc) or a Bachelor or Commerce (BCom, BBusSc, with business and marketing subjects would be suitable. Diploma: The N. Dip. Purchasing Management.
How do you become a buyer for a company?
How to become a buyerObtain a bachelor's degree. Earn a degree in a related field such as business, finance or supply chain management. ... Pursue entry-level experience. ... Gain on-the-job training. ... Earn industry certifications. ... Apply to buyer positions.
Whats it like being a buyer?
As a buyer, you're responsible for managing the cost base of your product ranges to meet target margins for the business. You spend much of your time liasing with suppliers to develop new ranges. You need to be aware of market trends, and be on top of what your competitors are up to at all times!
Why do you want to be a buyer?
Why you applied for the job with them, and not with some other company. You can start with the first one, saying that you enjoy doing what purchasing managers typically do, that you have strong analytical and negotiating skills, and believe you can be useful for an employer while working as a buyer.
What does a trainee buyer do?
Ensuring all materials are purchased on time, to specification, and at the best price available. Managing a range of suppliers in conjunction with the buyer. Developing long term contractual relationships. Liaising with planning and production staff to understand the business.
What makes a good retail buyer?
Retail buyers need a sense of retail and product trends and strong analytical experience. Buyers should have computer skills and a working knowledge of resource planning and forecasting. Excellent leadership, negotiating, and planning skills also are a must. Previous retail experience often is required.
What is it like to be a retail buyer?
As a buyer, you're responsible for managing the cost base of your product ranges to meet target margins for the business. You spend much of your time liasing with suppliers to develop new ranges. You need to be aware of market trends, and be on top of what your competitors are up to at all times!
Do small stores typically hire buyers?
Small stores typically hire buyers. Hiring workers to work part-time during peak hours is a way to avoid overstaffing. Which of the following is NOT a necessary trait of a good employee?
What do retail buyers look for?
When retail buyers open an offer, the first few things they check for are: Brand recognition (will people know this brand?) Type of product (do people want this now?) Demand for the product (is it high enough?)
How much does a Retail Buyer make?
The average retail buyer makes $53,829 in the United States. The average hourly pay for a retail buyer is $25.88. The average entry-level retail bu...
What state pays Retail Buyers the most?
New Jersey pays Retail Buyers the most in the United States, with an average salary of $66,546 per year, or $31.99 per hour.
How do I know if I'm being paid fairly as a Retail Buyer?
You know if you are being paid fairly as a Retail Buyer if your pay is close to the average pay for the state you live in. For example, if you live...
What type of Retail Buyer gets paid the most?
Senior Buyer gets paid the most. Senior Buyer made a median salary of $74,226. The best-paid 10 percent make $85,000, while the lowest-paid 10 perc...
How much does a Retail Buyer in United States make?
The national average salary for a Retail Buyer is $64,792 per year in United States. Filter by location to see a Retail Buyer salaries in your area...
What is the highest salary for a Retail Buyer in United States?
The highest salary for a Retail Buyer in United States is $87,893 per year.
What is the lowest salary for a Retail Buyer in United States?
The lowest salary for a Retail Buyer in United States is $47,762 per year.
What is the a Retail Buyer career path and salary trajectory?
If you are thinking of becoming a Retail Buyer or planning the next step in your career, find details about the role, the career path and salary tr...
How much does a buyer make in a year?
The average salary for a buyer is $55,764 per year in the United States.
How many buyers jobs require this skill in 2011?
4 Buyers job openings on indeed require this skill in 2011, it increases by 4 in comparison to previous year.
How much should you be earning?
Get an estimated calculation of how much you should be earning and insight into your career options. See more details
How much does a retail buyer make?
The national average salary for a Retail Buyer is $61,808 per year in United States. Filter by location to see a Retail Buyer salaries in your area. Salaries estimates are based on 71 salaries submitted anonymously to Glassdoor by a Retail Buyer employees.
What is the lowest salary for a retail buyer?
The lowest salary for a Retail Buyer in United States is $35,030 per year. What is the a Retail Buyer career path and salary trajectory? If you are thinking of becoming a Retail Buyer or planning the next step in your career, find details about the role, the career path and salary trajectory of a Retail Buyer.
What is the Pay by Experience Level for Retail Buyers?
An early career Retail Buyer with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $46,041 based on 56 salaries. A mid-career Retail Buyer with 5-9 years of experience earns an average total compensation of $62,878 based on 49 salaries. An experienced Retail Buyer with …Read more
What is a retail buyer?
Retail buyers are responsible for developing and buying merchandise for their store or department. The buyer analyzes data to predict what will be popular with shoppers to ensure those items are sufficiently stocked.
What is the Pay by Experience Level for Buyers?
An entry-level Buyer with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $50,205 based on 213 salaries. An early career Buyer with 1-4 years of experience earns an average total compensation of $54,352 based on 3,005 salaries. A mid-career Buyer with 5-9 …Read more
What is a buyer?
Buyers, also known as purchasing agents, work in many different fields. Some common businesses that hire buyers are retail stores, grocery stores, car dealerships, and many others. Buyers work is both mentally and physically challenging. Not only do they have to have very extensive knowledge of the business, they also need to know what kind of products need to be bought. Aside from the mental aspect, buyers often have to physically travel to pick up the items they are buying. They usually work …Read more
How much does a merchandise buyer make in 2021?
How much does a Merchandise Buyer make in the United States? The average Merchandise Buyer salary in the United States is $95,633 as of June 28, 2021, but the range typically falls between $82,896 and $110,279. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, ...
How many years of experience is needed to be a merchandise buyer?
Additionally, Merchandise Buyer typically reports to a supervisor or manager. To be a Merchandise Buyer typically requires 4 to 7 years of related experience. Contributes to moderately complex aspects of a project. Work is generally independent and collaborative in nature.
What is a merchandise buyer?
Merchandise Buyer selects merchandise for order, places order, and stays involved in inventory distribution. Reviews success of previous orders to determine extent to which inventory should be replenished. Being a Merchandise Buyer researches new trends or advances in product lines to make appropriate buying decisions. May require a bachelor's degree in area of specialty. Additionally, Merchandise Buyer typically reports to a supervisor or manager. To be a Merchandise Buyer typically requires 4 to 7 years of related experience. Contributes to moderately complex aspects of a project. Work is generally independent and collaborative in nature. (Copyright 2021 Salary.com)... View full job description
How much should you be paid?
For a real-time salary target, tell us more about your role in the four categories below.
How much does a wholesaler make?
Entry-level Wholesale and Retail Buyers with little to no experience can expect to make anywhere between $39,810 to $50,840 per year or $19 to $24 per hour. Similar to any other job, their salary will increase as they gain experience.
What is wholesale buyer?
Wholesale and Retail Buyers buy merchandise or commodities, other than farm products, for resale to consumers at the wholesale or retail level, including both durable and nondurable goods. Analyze past buying trends, sales records, price, and quality of merchandise to determine value and yield. Select, order, and authorize payment for merchandise according to contractual agreements. May conduct meetings with sales personnel and introduce new products. May negotiate contracts. Includes assistant wholesale and retail buyers of nonfarm products.
How to increase your salary as a wholesaler?
Another simple way to increase your salary as a Wholesale and Retail Buyer is to move to a higher paying state. However moving to a higher paying state like DC doesn’t guarantee that you will make more because the expenses at DC might be much higher than where you are currently living at right now.
How do grocery stores make money?
As a general rule, grocery stores operate on a profit margin as low as 1-3%. So they make money by selling large quantities. They also try to minimize shrink (theft and spoiled products) and keep labor costs as low as possible, often by hiring more part-time employees (who get fewer benefits).
How much profit does a grocery store make?
In fact, conventional grocery stores only make 1-2% bottom-line profit. Compared to other kinds of businesses, that’s pretty low.
What is the most profitable item in a grocery store?
The way grocery stores typically make a profit is by selling volume. So selling more of a lower priced item at higher volume will bring in more profit than selling one or two items with a higher markup.
How much do grocery stores pay for food?
Grocery stores often operate on a gross margin between 25-35%, meaning that the cost of their goods is often between 65-75% of the price they are charging.
Did I answer everything you wanted to know about how grocery stores make money?
Grocery stores may not have very large profit margins, but they do a pretty good job of making money .
Why is markup lower in grocery stores?
On the other hand, markup can be lower if you are selling large quantities of items, resulting in a higher profit dollars. The way grocery stores typically make a profit is by selling volume. So selling more of a lower priced item at higher volume will bring in more profit than selling one or two items with a higher markup.
How much does it cost to make 1,000 gallons of water?
It takes about $1.50 to make 1,000 gallons of water. A single bottle of water may cost anywhere from $1 to $3, making it very a very profitable grocery item. ( source) But most of the profit made by grocery stores comes from volume.
