Retail Buyer- Island Entertainment/ Flora-Bama

2 months ago

Orange Beach, United States Flora-Bama Full time

The Retail Buyer is responsible for selecting, purchasing, and managing a wide range of merchandise for Island Entertainment, the parent company of the renowned Flora-Bama, Coastal Orange Beach, Orange Beach Store, and several other businesses in the 30A market. This role involves analyzing market trends, negotiating with vendors, and ensuring that inventory aligns with our brand and customer preferences. The Retail Buyer will collaborate closely with store managers and the merchandising team to maintain stock levels, maximize profitability, and deliver a seamless customer experience across all Island Entertainment retail locations.

Key Responsibilities

Financial Planning & Analysis
- Develop and implement annual financial plans, including sales, inventory, and turnover goals.
- Analyze sales data, inventory levels, and profit margins by vendor, department, classification, style, size, and color to maximize sales and optimize inventory turnover.
- Perform profit and loss analysis to evaluate financial performance.
Inventory Management
- Create and execute assortment plans based on established goals.
- Forecast trends by analyzing current sales data and anticipating future business conditions.
- Monitor merchandise performance and adjust reorders as needed to meet demand.
- Maintain accurate tracking of purchases, vendor quality, and up-to-date vendor information.
Vendor Management
- Research and evaluate suppliers based on quality, pricing, and market trends.
- Establish and maintain relationships with both domestic and international vendors, leveraging networking skills to stay informed on marketplace conditions.
- Negotiate pricing, terms, and delivery schedules to secure deals that enhance gross profit and sales margin dollars, including volume discounts and off-price product opportunities.
- Set and enforce vendor gross margin expectations, holding partners accountable to agreed-upon goals.

Product Selection
- Conduct market research to identify trends, customer preferences, and competitor activities.
- Select and purchase products that meet the company's quality, style, and financial requirements.
- Understand the target customer to ensure product selection aligns with customer needs and preferences.
- Identify key trends in both new and existing markets to maintain a competitive edge.
Trend Analysis
- Attend trade shows, fashion shows, and industry events to stay informed on emerging trends.
- Perform regular market research to forecast upcoming trends and customer demand.
- Analyze competitors' business strategies, including pricing and product assortment.

Collaboration
- Collaborate with marketing teams to develop seasonal and yearly sales strategies, ensuring product alignment with promotional activities and in-store displays.
- Partner with restaurant teams to enhance engagement and sales, ensuring mutual success.
- Participate in merchandising meetings, contributing to seasonal planning and product launch strategies.

Leadership Responsibilities
- Lead, mentor, and develop assistant buyers and support staff.
- Provide training and guidance on purchasing, vendor management, and inventory best practices.
- Foster a collaborative, high-performance team environment.
- Set clear goals for team members and review performance regularly.
- Drive continuous improvement within the buying department.

Skills and Qualifications
- Bachelor's degree in Business Administration with a focus on retail or financial management, or 3-5 years of proven experience as a buyer in a relevant industry.
- Strong analytical skills to interpret market trends, sales data, and financial reports.
- Excellent negotiation skills for securing favorable supplier terms and pricing.
- Strong interpersonal and communication skills to build and maintain vendor relationships.
- Ability to manage multiple tasks, prioritize work, and meet deadlines.
- High attention to detail to ensure quality standards and data accuracy.
- Proficiency in inventory management software, Microsoft Excel, and the full Microsoft Office Suite.

Pay: From $60,000.00 per year

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