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Buying is an important business function in the retail sector. Any company that sells products needs someone to get those products before they can be sold. If you’re interested in working in the buying industry, that’s exactly what you’re be doing: finding and purchasing products that can be sold by a particular brand. And this covers everything from clothes, to food, to electronics. It will be down to you to choose where those products come from, how many of them you need and how much the company pays for them.
This means everything we can buy from a particular retailer is decided by buyers. You get to choose what fills our shops and so you get to decide the products we choose from. You’ll need knowledge of customer psychology, buying habits and shifts in the market. You’ll have to assess data trends concerning not only what kinds of things customers are currently buying, but also things that they might want to buy soon. If you spot a trend before anyone else, you could bolster your company’s profits and increase its market share!
You’ll get to go to trade fairs and visit stores around the country. You’ll be judging the quality of a product versus its affordability, trying to find the right balance to maximise profits. You’ll get to choose which products are stocked and negotiate prices with suppliers. You’ll also be spending a lot of time analysing data and thinking about what it might indicate for the future.