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Retail and Wholesale Buyers
What they do?
Retail and wholesale buyers perform some or all of the following duties:
A. Retail and wholesale buyers may specialize in a particular merchandise line.
B. Purchase merchandise for resale by retail or wholesale establishments
C. Review requirements of establishment and determine quantity and type of merchandise to purchase
D. Study market reports, trade periodicals and sales promotion materials and visit trade shows, showrooms, factories and product design events
E. Select the merchandise which best fits the establishment's requirements
F. Interview suppliers and negotiate prices, discounts, credit terms and transportation arrangements
G. Oversee distribution of merchandise to outlets and maintain adequate stock levels
What education do I need?
1. To be a retail or wholesale buyer, you need a high school diploma and usually a university degree or college diploma in business, marketing or a related program.
2. You also need previous work experience in a retail or wholesale establishment.
3. You must have supervisory experience to become a supervisor or senior buyer.
4. You may specialize in a particular merchandise line through experience or product-based training courses.
5. With additional experience or training, you may move up the ranks to become a manager.
6. Most recent entrants have a community college diploma, and almost 2 in 5 have an undergraduate university degree.
High School Subject that will help:
1. Math
2. English
3. Business
4. Computer-related courses
What can you expect to make:
The average hourly wages for Retail and Wholesale Buyers is $16.33/HR, which is close to the average for occupations in the sale and service sector and are below average for all technical, professional, and skilled occupations. These wages grew at an average rate from 2002 to 2004.
Average Wage
Expected Wage by Age
Unemployment:
4% of Retail and Wholesale Buyers are unemployed. This rate is close to the average for technical, professional, and skilled occupations.
Unemployment
Trends in Unemployment
Current Job Outlook:
The job outlook for Retail and Wholesale Buyers is considered Below Average because:
1. Employment grew at an average rate.
2. The retirement rate is above average, and the number of retiring workers contributes to job openings.
3. Hourly wages ($16.33) are close to the average ($18.07), and the rate of wage growth is close to the average.
4. The unemployment rate (4%) is close to the 2004 average (7%).
Future Job Prospects:
Your job outlook will continue to be Below Average because:
1. The employment growth rate will likely be average even though tax cuts and low interest rates should continue to boost consumer/business spending.
2. The retirement rate will likely be above average and the number of retiring workers should contribute to job openings.
3. The number of job seekers will likely match the number of job openings.
Highest Concetration:
The highest concentrations Retail and Wholesale Buyers are found in Nova Scotia and Prince Edward Island while the lowest concentrations are in Saskatchewan and Newfoundland.
Useful Experience:
1. Researching
2. Comparing
3. International trade knowledge
Part Time Workers
Part time workers:
16% of Retail and Wholesale Buyers are employed only on a part-time basis. There were 23,900 workers employed in these occupations in 2004, a decrease of 16% since 1997.
Age Demographics
Age Demographics:
The older-than-average age (45) of worker will likely result in an above-average retirement rate to 2009.
