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BUYERA buyer is an individual responsible for deciding, whatto buy, where to buy from, how much to buy, and whatprice to buy and sell.
BuyerBuyers of different types of organizations have different needs – to meet their own customer demands.
merchandise they buy buying patternstype and level of service
Types of buyers
Importer Buyer
Retail Buyer
Buying ResponsibilitiesThe scope of the buyer’s job is dependent upon :o organizational structure of the retail store o the types of goods offered o the store’s dollar volumeo the location of store branches and units
Note: The duties and responsibilities may not necessarily performed by all buyers.
Buying responsibilitieso Management responsibilities
o Market forecasting
o Merchandising planning and selection
o Working with resources
o Preparing merchandise table
Management ResponsibilitiesBuyer has constant contact with salespeople,
merchandise managers, staff personnel, other store buyers, and customers.
Management ResponsibilitiesBuyer is responsible of running a good department
, attracting consumers to the store and of course , maximizing profit.
To fulfill these duties buyer has to function as a manager.
Market ForecastingBuyer works as a market specialist –
awareness of external forces:
1. Market trends2. Economic conditions 3. Technological advancements that will
affect consumer attitude4.Computer applications in merchandising5. Understand consumer behavior 6.What affects consumer buying decisions in the
market place
Merchandise planning and selectionThe buyer is a planner. A buyer should know the importance of record
keeping since he is instrumental is preparing the merchandise budget.
Merchandise planning and selection
Store buyers must know how assortment plans are developed.
Buyer should know what merchandise to buy as well as how much to buy .
Working with resourcesBuyer must visit domestic and
foreign trade centers. May use the service of a resident
buying office. Retail buyer should know the
techniques used in making buying contacts, as well as developing good buyer - vendor relationship.
Preparing Merchandise for Sale
The store buyer must be aware of the legal aspects of pricing.
Determining wholesale price and the retail price are all part of buyer’s job.
The buyer must be an effective communicator.
The Importer Buyer
Stockist
Has a design cell. Requires suppliers to work with his designers on design & product development
Salesman/road samples
Works well in advance of the season
Comparatively longer lead times and large volumes
The Importer BuyerVery price point conscious
Services a number of different levels of retailers
May have a private label, else does other store labels
All shipments are by sea – price
Note: Private label products or services are typically those manufactured or provided by one company for offer under another company's brand.
The Importer BuyerNormally easy on quality requirements
Requirements may vary based on individual retailers serviced
The Retail BuyerWorks for large department store groups or for specialty chains :
Central Buyer
Multiple Stores Buyer
The Central BuyerNormally represents chain store groups, specialty store
groups, and mail order groups
Senior person in the organization
Very Large buying budget - buys for all stores of the chain
Single apparel type buyer
May or may not give design inputs
Often selects merchandise from the manufacturers in house collection
The Central BuyerRepresents the label so is very quality conscious
Could pay higher prices for good products
Goods go directly to retailer so presentation is of importance
Buy closer to the season
Shorter lead times
The Central BuyerRequirement on quantities are dependant on specific
chain size
Deliveries are time bound – retail outlet stock planning
The final decision maker on his merchandise
The Multiple Stores BuyerRepresents a number of independent retailers -
renders a buying service
Can be a multiple commodity buyer
Not the final decision maker on merchandise selection
Very long decision-making process on final confirmation
The Multiple Stores BuyerOrder placing / deliveries long drawn - final lead time
is short
Very quality conscious and strict on deliveries
Goods prices
Requires very close monitoring and follow up
Thank you!!