The associate buyer/merchant is responsible for creating an exciting and timely product assortment for the Retail business that meets or exceeds the sales volume and profits for their respective departments. They are to execute the vision of the SR team and founder and intuitively respond to customer feedback and market trends. In addition, this person must develop action plans that drive category specific growth and increase profitability. The Buyer is responsible for the success of their business unit and is expected to use their fashion intuition to direct the assortment of their category.
Analyze (either directly or with the staff) weekly and monthly sales, stock and on-order with the goal of optimizing sales and minimizing markdowns Have a deep understanding of the customer’s wants and needs and the ability to identify the appropriate product/trend that will appeal to the customer and exceed their expectations Work with the SR team on revising plans to ensure that sales and margin are optimized by class Ensure that buying direction is on target based on partnering with SR. team and comprehensive analysis of the business, e.g., last year results, current trends, etc. Manage styles to the plan, ensuring that each item is a winner and that the assortment is properly balanced and invested by ensuring there is an appropriate balance of looks, silhouettes, fabrics, patterns, color, price points, etc., and that we are taking the correct inventory position with key items and fringe and/or new items Along with SR team, recognize and react quickly to all trends, both major and minor, in the business, whether product or store related Weekly interaction with stores, validate call-outs and feedback from store managers and employees Manage the financial elements of the business, e.g., OTB, IMU, MD’s, etc. for assigned classes Accountable for retail’s Gross Margin Targets and Sell Thru Targets Manage reorder and store transfers by identifying Open to Buy opportunities-season actions, future month forecasts and strategies. Keep an ideal Fashion vs Core/Carryover ratio in each retail location Collect, assimilate, analyze, package and present information to the SR. team in a way that permits them to make an informed decision and take measurable action The ability to prioritize tasks and the ability to balance the immediate and long term needs of the business The ability to make the transition from strategic (conceptual and planning) to execution. Financial acumen and the ability to manipulate numbers are critical in achieving the tactical objectives Responsible for establishing seasonal marketing materials to delivery to stores, training tools Manage store employees and new hires Collaborate with cross functional partners to efficiently maximize work efforts Provide seasonal informative recaps.