Retail Buying

Dear vibhu,
Hi,
Retail buyers purchase goods for re-sale to the public. A retail buyer takes current inventory, sales trends, supply chain and customer needs into account when deciding what to buy from suppliers and sell through their company.
Retail buyer Job description:
A retail buyer is responsible for planning and selecting a range of products to sell in retail outlets. The buyer must consider the following factors when making purchasing decisions:
• customer demand, including price, quality and availability;
• market trends;
• store policy;
• Financial budgets.
Buyers source new merchandise and review existing items to ensure products remain competitive. By fully understanding customer needs, they are able to maximize profits and provide a commercially viable range of merchandise at competitive prices.
Throughout the year, responsibilities typically involve:
• analyzing consumer buying patterns and predicting future trends;
• regularly reviewing performance indicators, such as sales and discount levels;
• managing plans for stock levels;
• reacting to changes in demand and logistics;
• meeting suppliers and negotiating terms of contract;
• maintaining relationships with existing suppliers and sourcing new suppliers for future products;
• liaising with other departments within the organization to ensure projects are completed;
• attending trade fairs, in the UK and overseas, to select and assemble a new collection of products;
• participating in promotional activities;
• writing reports and forecasting sales levels;
• presenting new ranges to senior retail managers;
• liaising with shop personnel to ensure supply meets demand;
• getting feedback from customers;
• Training and mentoring junior staff.
definitely there is good career scope in it.
you can visit the links given below:
https://www.shiksha.com/career-as-a-retail-buyer-article-5256-1
Hope it will help you, feel free ask more. Give thumbs up or mark this answer as best if you found it helpful.

Hi Vibhu,
Retail buying and merchandising are not same.
Merchandising: Merchandiser
Duties:
· oversee research, planning, and development of product at the wholesale level
· establish product direction and composition
· collaborate closely with design, production, and sales teams
· track and analyze market trends and forecasts
· understand customer preference (what the buyers want)
· study past sales and interpret data for new product direction
· work with product development on pre- and post-production processes
Retail Buying: Buyer
Duties:
· responsible for the purchasing of apparel and accessories from manufacturers or wholesalers for retail sale to consumers
· negotiate prices with wholesalers/vendors and place purchase orders
· develop and maintain vendor relationships
· plan delivery and shipment schedules
· collaborate with planning, merchandising, and sales teams
· study trends and shop competition
· monitor quality control
Hope it helps. Please feel free to revert. Click on the thumbs up if you found this useful.
Wish You Luck!