Skills & Competencies for Merchandise Buyer

Merchandise Buyer job profile

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JOB SUMMARY for Merchandise Buyer

Selects merchandise for order, places order, and stays involved in inventory distribution.

JOB RESPONSIBILITIES for Merchandise Buyer

Reviews success of previous orders to determine extent to which inventory should be replenished. Researches new trends or advances in product lines to make appropriate buying decisions.

Merchandise Buyer SALARY RANGE

BASE 50%
$104,795
TOTAL 50%
$113,503
Job Level
P03
Job Code
SM15000257
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Merchandise Buyer Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Merchandise Buyer skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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9 hard skills or competencies (industry competencies) for Merchandise Buyer

1 Industry Competency – Retail Industry
Proficiency Level -2
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)
Identifies and explains the characteristics and key features of various retail business models.
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Level 2 Behaviors
(Light Experience)
Identifies and explains major operational issues and considerations.
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Level 3 Behaviors
(Moderate Experience)
Implements promotional activities to communicate the features and benefits of new products.
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Level 4 Behaviors
(Extensive Experience)
Monitors and optimizes retail operations to enhance productivity and cost-effectiveness.
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Level 5 Behaviors
(Mastery)
Explores the historical and future positioning of the organization in light of prevailing retail trends.
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2 Industry Competency – Merchandising
Proficiency Level -2
Skill definition-Strategically planning, executing, and managing product merchandising, pricing, and promotions to increase customer engagement and maximize revenue.
Level 1 Behaviors
(General Familiarity)
Discusses the use and importance of web analytics for improving online merchandising strategies.
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Level 2 Behaviors
(Light Experience)
Documents and reports to management identified merchandise stock discrepancies, damage, or other issues.
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Level 3 Behaviors
(Moderate Experience)
Uses advanced inventory management tools to monitor and optimize the stock levels of products.
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Level 4 Behaviors
(Extensive Experience)
Leads the planning and execution of merchandise promotional activities to drive sales and generate revenue.
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Level 5 Behaviors
(Mastery)
Develops and publishes advanced research on innovative merchandising techniques, strategies, and theories.
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3 Merchandise Buyer - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Merchandise Buyer
Proficiency Level - 4
5 Competency for - Merchandise Buyer
Proficiency Level - 5

5 general skills or competencies (Job family competencies) for Merchandise Buyer

1 Job Family Competencies – Service Delivery
Proficiency Level -2
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)
Discusses the end-to-end delivery process for various services provided by the business.
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Level 2 Behaviors
(Light Experience)
Collects feedback from customers to track and ensure seamless delivery of services.
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Level 3 Behaviors
(Moderate Experience)
Evaluates the performance of teams in providing quality services to customers.
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Level 4 Behaviors
(Extensive Experience)
Guides and trains teams in maximizing operational opportunities that promote outstanding service delivery.
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Level 5 Behaviors
(Mastery)
Develops a service delivery framework that adapts to the changing industry practices of customer service.
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2 Job Family Competencies – Cost Control
Proficiency Level -2
Skill definition-Managing and analyzing financial data in determining and reducing business expenses to increase revenue and profitability.
Level 1 Behaviors
(General Familiarity)
Lists and names the functionality and use of a system for cost controls.
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Level 2 Behaviors
(Light Experience)
Tracks and documents the preparation of departmental cost control reports.
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Level 3 Behaviors
(Moderate Experience)
Works with the team to control costs and optimize financial processes.
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Level 4 Behaviors
(Extensive Experience)
Validates that proper control measures are in place to meet business and financial objectives.
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Level 5 Behaviors
(Mastery)
Leads continuous improvement efforts to support annual goals of cost control for the organization.
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3 Merchandise Buyer - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Merchandise Buyer
Proficiency Level - 4
5 Competency for - Merchandise Buyer
Proficiency Level - 5

10 soft skills or competencies (core competencies) for Merchandise Buyer

1 Core Competencies – Scheduling
Proficiency Level -3
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)
Names the distinct types of schedules, including conceptual schedules and master schedules.
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Level 2 Behaviors
(Light Experience)
Selects the appropriate method to schedule appointments, encompassing electronic or written styles.
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Level 3 Behaviors
(Moderate Experience)
Verifies the availability of involved participants for scheduled meetings to ensure complete attendance.
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Level 4 Behaviors
(Extensive Experience)
Provides workforce management scheduling and load balancing requirements for work peaks.
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Level 5 Behaviors
(Mastery)
Develops standards, metrics, and procedures to maximize scheduling management efficiency.
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2 Core Competencies – Key Performance Indicators (KPI)
Proficiency Level -3
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)
Lists some typical KPIs from own industry, business, and function.
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Level 2 Behaviors
(Light Experience)
Produces standard and ad-hoc KPI reports following standard procedures.
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Level 3 Behaviors
(Moderate Experience)
Participates in regular KPI reviews to evaluate goals, performance, and growth opportunities.
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Level 4 Behaviors
(Extensive Experience)
Works with external stakeholders, such as key clients and vendors to determine complicated KPIs.
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Level 5 Behaviors
(Mastery)
Reports on up to date industry and market benchmarks and trends in KPI best practices.
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3 Merchandise Buyer - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Merchandise Buyer
Proficiency Level - 4
5 Competency for - Merchandise Buyer
Proficiency Level - 5

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.

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