Junior Buyer and Analyst

5 days ago

Chicago, Illinois, United States Local Eclectic Full time
Job Description

About Local Eclectic

Local Eclectic is a leading international e-commerce jewelry brand based in the United States. We specialize in selling unique and high-quality jewelry from emerging and independent designers from around the world. Our brand has a strong focus on providing an exceptional customer experience and offering a wide range of products that cater to diverse tastes and preferences.

Our Mission

At Local Eclectic, we are passionate about creating and selling jewelry that inspires creativity and empowers women. We believe that every piece of jewelry is a work of art, a symbol of personal expression, and a connection to something greater. Our mission is to provide our customers with a wide range of unique and high-quality jewelry options that meet their individual needs and preferences.

Job Summary

We are seeking a highly motivated and detail-oriented Junior Buyer and Analyst to join our team. The successful candidate will be responsible for supporting all buying and inventory management activities, demand planning, pricing and margin analysis, general reporting, and cross-departmental data analysis.

Key Responsibilities

  • Inventory Management / Buying
    • Build and maintain relationships with suppliers and design partners
    • Forecast, place orders, and ensure timely delivery of products
    • Own the discontinue process, including identifying items close to the end of their life cycle and should not be reordered
    • Own inventory reporting
    • Weekly demand planning and reporting
    • Implement inventory strategies to optimize stock turnover and maintain optimal weeks of supply across all SKUs
  • Pricing and Margin Analysis
    • Assist in setting competitive pricing strategies while maintaining healthy profit margins
    • Analyze overall sales and profitability on a daily, weekly, monthly, yearly, and YOY basis
  • Reporting
    • Prepare regular reports on sales performance, inventory levels, pre-defined KPIs, and market trends to help improve all areas of the business
    • Proactively identify areas for improvement and make recommendations for adjustments to buying strategies based on data analysis
    • Provide analytical support and easily digestible reports to internal teams to help track performance at the product level and make recommendations for optimizations
    • Monitor competitors' activities, pricing strategies, and product offerings and assortment to identify opportunities for growth
  • Market and Data Analysis
    • Conduct occasional market research and customer surveys to identify emerging trends, customer preferences, and consumer brand feedback
    • Analyze sales data and customer feedback to gain insights into product performance and make data-driven buying decisions
    • Analyze sales trends and historical data to identify trends, patterns, and opportunities for improvement across all aspects of the business and our product assortment and inventory levels
    • Assist the marketing team by building customer segmentation to help enhance marketing efforts
    • Assist the marketing team by analyzing customer feedback and reviews to identify areas for improvement and customer satisfaction enhancements

Requirements

  • Bachelor's degree in Business, Marketing, Analytics, or a related field
  • 3-4 years of experience within this job function in a retail and/or e-commerce environment
  • Strong analytical mindset with proficiency in data analysis tools and techniques
  • Excellent communication skills to convey complex data insights to non-technical stakeholders
  • Self-motivated with the ability to identify problems and solutions with minimal direction
  • Ability to manage multiple projects simultaneously and balance priorities independently
  • Detail-oriented and highly organized
  • Enthusiasm for the jewelry industry and a passion for delivering exceptional customer experiences
  • Knowledge of e-commerce platforms and digital marketing is a plus

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