9 hard skills or competencies (industry competencies) for Merchandise Buyer
Skill definition-Applying comprehensive knowledge of retail principles, inventory management, pricing strategies, and consumer behavior to effectively manage and operate retail businesses.
Level 1 Behaviors
(General Familiarity)
Defines the importance of effective merchandising strategies in boosting retail sales and profit margins.
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Level 2 Behaviors
(Light Experience)
Conducts research on current and upcoming distribution channels tailored to a specific product category.
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Level 3 Behaviors
(Moderate Experience)
Analyzes consumer buying patterns and trends to predict product and service demands.
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Level 4 Behaviors
(Extensive Experience)
Creates and leverages KPIs to assess the effectiveness of retail sales strategies and promotional methods.
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Level 5 Behaviors
(Mastery)
Designs and executes customer segmentation and personalization techniques to deliver tailored marketing promotions.
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Skill definition-Strategically planning, executing, and managing product merchandising, pricing, and promotions to increase customer engagement and maximize revenue.
Level 1 Behaviors
(General Familiarity)
Cites examples of common merchandising techniques for ensuring consistent brand presentation.
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Level 2 Behaviors
(Light Experience)
Aids in compiling market research to identify trends and ensure the effectiveness of merchandising strategies.
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Level 3 Behaviors
(Moderate Experience)
Analyzes customers' feedback to improve product assortment and pricing plans.
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Level 4 Behaviors
(Extensive Experience)
Coordinates with vendors and buyers to ensure timely delivery and optimal placement of merchandise.
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Level 5 Behaviors
(Mastery)
Builds relationships with strategic partners to secure access to superior merchandise offerings, data, and terms.
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5 general skills or competencies (Job family competencies) for Merchandise Buyer
Skill definition-Creating and implementing innovative strategic plans and solutions to address customer concerns and needs and meet service delivery expectations.
Level 1 Behaviors
(General Familiarity)
Cites examples of constraints and benefits in service delivery.
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Level 2 Behaviors
(Light Experience)
Applies various communication styles in providing our services to customers.
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Level 3 Behaviors
(Moderate Experience)
Communicates with any disgruntled customers to win back their trust and business.
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Level 4 Behaviors
(Extensive Experience)
Creates innovative strategies to address reliability issues and optimize service delivery process.
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Level 5 Behaviors
(Mastery)
Conceptualizes effective staffing and scheduling patterns to uphold our quality of service delivery.
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Skill definition-Managing and analyzing financial data in determining and reducing business expenses to increase revenue and profitability.
Level 1 Behaviors
(General Familiarity)
Cites processes, procedures, principles, and practices of cost control.
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Level 2 Behaviors
(Light Experience)
Assists in maintaining cost control by monitoring department expenditures.
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Level 3 Behaviors
(Moderate Experience)
Implements cost control initiatives to influence the organization's bottom line in each region positively.
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Level 4 Behaviors
(Extensive Experience)
Creates cost control measures to facilitate the financial well-being of the department.
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Level 5 Behaviors
(Mastery)
Builds cost control processes to ensure plans and business goals are in alignment.
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10 soft skills or competencies (core competencies) for Merchandise Buyer
Skill definition-Ability to plan and organize activities, tasks, and resources to achieve business goals and objectives within timeframe and budget.
Level 1 Behaviors
(General Familiarity)
Discusses the importance of scheduling, which includes achieving a good work-life balance.
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Level 2 Behaviors
(Light Experience)
Records employee availability to increase attendance at scheduled meetings.
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Level 3 Behaviors
(Moderate Experience)
Prepares staffing forecast dashboards as well as comparative data on results versus forecasts.
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Level 4 Behaviors
(Extensive Experience)
Manages travel arrangements or schedules, such as booking flights and making hotel or restaurant reservations.
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Level 5 Behaviors
(Mastery)
Creates strategies and objectives to improve the functional infrastructure of general workforce scheduling.
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Skill definition-Knowledge of and ability to apply a set of quantifiable measurements to determine how effectively an individual, team or organization is achieving a business objective.
Level 1 Behaviors
(General Familiarity)
Describes the concepts and purposes of Key Performance Indicators (KPI).
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Level 2 Behaviors
(Light Experience)
Gathers internal and external benchmarks for KPI development.
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Level 3 Behaviors
(Moderate Experience)
Defines KPIs in terms of Specific, Measurable, Achievable, Realistic, and Timely (SMART) goal criteria.
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Level 4 Behaviors
(Extensive Experience)
Develops and delivers training programs on KPI practices to employees and managers.
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Level 5 Behaviors
(Mastery)
Establishes organizational Key Performance Indicators (KPI) frameworks and management processes.
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Summary of Merchandise Buyer skills and competencies
There are 9 hard skills for Merchandise Buyer, Retail Industry, Merchandising, Merchandise Quality and Compliance, etc.
5 general skills for Merchandise Buyer, Service Delivery, Cost Control, Reverse Logistics, etc.
10 soft skills for Merchandise Buyer, Scheduling, Key Performance Indicators (KPI), Financial Acumen, etc.
While the list totals 24 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Merchandise Buyer, he or she needs to be skilled in Scheduling, be skilled in Key Performance Indicators (KPI), and be proficient in Financial Acumen.