As the Associate Retail Buyer, you will assist with the purchase and management of inventory for our fast-paced, high-end 5,000 square foot specialty store and our e-commerce site. You will implement product development, buying, and merchandising programs to maximize sales and profits, increase sales per customer, and inventory turn. You will also analyze, track, and manage inventory to ensure proper mix and availability of product as well as identify and procure timely, trend-right, quality, mission-driven products that customers want to buy.*Minimum of 2 years Retail Buying experience required.
Develop and implement merchandising, buying, new orders and reorder plans that balance resources, fashion/social trends, product classifications, and price points for the store’s customer base. Develop and achieve planned goals in sales, markups, markdowns, shortage, inventory turn, gross profit and controllable elements of net profit.
Make buying trips to research and procure products that relate to the Museum’s collections, special exhibits, and programs to enhance the retail operation and to maximize sales and profits.
Negotiate favorable prices, terms, discounts and transportation allowances with vendors. Conduct on-going performance ratings of vendors and research/select vendors who offer the best mix of product variety, quality, quantity, price and delivery.
Gain exposure and insights into what customers want by assisting in selling, encouraging customer input, and responding to customer’s questions. Shop and analyze competitive stores to evaluate assortments, prices and merchandise presentations in order to better understand the market.
Prepare reports to assist in tracking, monitoring, and analyzing inventory and sales. Assist in planning and participate in annual physical inventory and reconciliation.
Educate store personnel in a timely manner on trends, product information, promotions, advertising campaigns and display concepts. Assist in floor-sets within the museum store. Prepares copy for and ensures product signage is accurate, attractive, and that it supports merchandising goals.
Ensure orders are received on time and resolve shipping, vendor, and quality control problems via ongoing communications with vendors. Monitor, process and verify invoices and receiving reports on a timely basis.
Assist in the development of advertising and promotion plans with Retail Buyer, Book Buyer, Retail Director and Communications. Provide staff with advance notice and information on advertising/ promotions and ensure adequate product availability at the advertised price.
Participate in weekly Retail Meetings and quarterly department staff meetings. Participate in relevant professional organizations and meetings. Update Retail Communications Board and prepare weekly Retail Newsletter.
Stay abreast of developments in the field through participation in relevant professional organizations and meetings to understand and, as appropriate, incorporate trends and new approaches.
Assist Accounting Department on processing of invoices in a timely manner, answering questions, making corrections, etc. in order to resolve all problems as quickly as possible.
Perform other related duties as required and responsibilities as required or assigned.
Minimum Experience Required
2-4 years demonstrated experience with retail merchandising, buying and product development including decision making responsibility for your assigned categories. Proven ability to buy, develop, and display high-quality products, and manage inventory using a retail point-of-sale system in a fast paced, retail environment. Prove ability to create financial, inventory, and sales reports and spreadsheets, Proficient in Microsoft Office/Excel.
Minimum Education Required
BA/BS degree in retail, merchandising, business administration or related field preferred.
Occasional evening and/or weekend work and overnight travel to trade shows will be required. The work is generally sedentary but may require some extended periods of standing and walking and will require a moderate amount of bending. The ability to handle and move stock weighing up to 30 pounds from other locations within the Museum utilizing carts and dollies will be required.
To be considered, please submit a detailed cover letter and 3 professional references to firstname.lastname@example.org. Please include Assistant Retail Buyer in the subject line.