Retail And Wholesale Buyer Schools, Salaries, and Job Data
Retail and Wholesale Buyers Job Overview
Retail and wholesale buyers are responsible for purchasing the goods and services that a company or institution needs for its own use. They buy goods, such as clothing or electronics. They take into account the price, quality, availability, reliability and technical support while choosing suppliers and merchandise and trying to get the best deal for their company. For this, they have to study sales records and inventory levels of current stocks, spot foreign and domestic suppliers and keep notice of changes affecting both the supply and demand of required products and materials. To be successful, retail and wholesale buyers must have a working technical knowledge of the goods or services that they are required to purchase.
Retail and Wholesale Buyers Schools and Degrees
Educational requirements depend on the size of the organization. Qualified people may begin as trainees, purchasing clerks, expediters, junior buyers or assistant buyers. Large stores and distributors favor applicants with a bachelor’s degree. Many manufacturing firms place a greater emphasis on formal training, preferring applicants with a bachelor’s or master’s degree in engineering, business, economics or applied science. A master’s degree is necessary for progression to many top-level managerial jobs. Training periods vary from 1 to 5 years.
Job Requirements
New employees must learn the details of their employer’s business and must know how to use word processing and spreadsheet software and the Internet. Other important qualities include the ability to analyze technical data in suppliers’ proposals, good communication and mathematical skills, knowledge of supply-chain management and the ability to perform financial analyses. Retail and wholesale buyers should have good planning and decision-making skills, and possess an interest in merchandising. Marketing skills and the ability to identify products that will sell also are very important.
Nature of Work
Retail and wholesale buyers are a vital part of a system of distribution and merchandising that caters to the vast range of consumer needs and desires. In retail firms, buyers purchase goods from wholesale firms or directly from manufacturers to resell to the public. Evaluating suppliers is one of the most critical functions of retail and wholesale buyers.
Retail and wholesale buyers mostly work in comfortable offices and often work more than the standard 40-hour week because of special sales, conferences or production deadlines. Evening and weekend work is also common. Since retail and wholesale buyers often work under great pressure, stamina to keep up with the fast-paced nature of the work is crucial.
Retail and Wholesale Buyers Jobs and Outlook
According to research, little or no job growth is expected in the next ten years. Opportunities will be best for individuals with a bachelors degree. In government and in large companies, opportunities will be best for those with a masters degree. Employment is the highest in the following industries:
Grocery and Related Product Wholesalers
Grocery Stores
Machinery, Equipment, and Supplies Merchant Wholesalers
Management of Companies and Enterprises
Wholesale Electronic Markets and Agents and Brokers
The mean hourly wage for retail and wholesale buyers in the US is about $25.76, while the mean annual wages are around $53,580.
Job Numbers and Growth
Retail and wholesale buyers nationally number 157,000. The unemployment level for workers is low, compared to other occupations. About 3% of employees were unemployed recently.
Area Job Conditions
Retail and wholesale buyers are relatively common in Fayetteville (Arkansas), Prescott (Arizona), and Framingham (Massachusetts). They are rarer in Charleston (West Virginia), Palm Bay (Florida), and Fayetteville (North Carolina).
Workers are paid highest in Austin (Texas), Nassau (New York), and Spartanburg (South Carolina), and lowest in Charlottesville (Virginia), Burlington (North Carolina), and Fond du Lac (Wisconsin).
Training and Education
Employees are generally expected to have long-term on-the-job training. About 36% of retail and wholesale buyers hold a bachelor's degree or better. Currently 36% of workers have some college education, though not a degree. About 28% of employees were able to get their jobs with a high-school diploma. Recommended schools are shown in the column to the right; request information from them to help you decide which if any could help you with this career.
Part-Time Work and Self-Employment
About 16% of retail and wholesale buyers work less than full-time. In 12% of the cases, workers work for themselves.
Retail And Wholesale Buyers by Metropolitan Area (city and its surroundings)
In the table below, a Job Density near 0% means the area has an average number of people in this occupation, for its population. A higher or lower Job Density (e.g., +22% or -45%) tells you there are that many more or fewer workers of that type there than in the average US metro area. So, the higher the number, the more common the occupation.
Schools recommended for people interested in this career. Request info with quick online forms. These particular schools are noted for getting back to people fast.
Schools recommended for people interested in this career. Request info with quick online forms. These particular schools are noted for getting back to people fast.