Fashion Buyer -
Responsible for the implementation of the store-based merchandise strategies on the web for designated categories of products. Leads the selection of online expanded merchandise assortments and aligns the online strategy with the company goals.Responsible for achieving sales, margin and inventory turn goals through focused merchandise assortments and merchandise management while driving the overall company strategy. Works closely with Merchandising Management, Planning/Allocation, Product Development, Sourcing, Vendor Partners, and Marketing to improve profitability and maximize shareholder value.
ESSENTIAL DUTIES AND RESPONSIBILITIES
• Plan online merchandise assortments in alignment with the respective Brand strategy.
• Analyze the store-based assortments and supplement with product categories and price points that lend to the expanded assortment strategy.
• Thorough knowledge of merchandising and technical aspects of merchandising (e.g., fabric, design, silhouettes, etc.).
• Source expanded assortment product and direct the product setup for the web environment, as well as coordinate vendor deliveries.
• Manage and monitor inventories.
• Responsible for IMU to achieve financial targets, including the management of margin mix across categories, key items, and clearance.
• Responsible for developing a key-item strategy that drives revenue and maintains margin in order to protect online market share.
• Collaborate with the planning team on consumer and promotional trends to support their forecasts for product demand.
• Collaborate with Site Management team on product trends in order to support product categorization, layout, and sequencing, including the selection of product and concepts to promote in homepage refreshes and email campaigns.
• Utilize web analytics to make merchandising decisions about taxonomy for the products and pricing options.
• Research and analyze market trends in order to source and develop viable products.
• Shop and analyze the competition to understand trends, pricing opportunities, marketing concepts, and the customers’ perspective.
• Highly effective written and verbal communication skills.
• Strong retail math skills.
• Strong PC skills, with an emphasis on spreadsheet applications
• Strong negotiation skills.
• Must have extensive vendor negotiation and interaction
• Strong analytical and conceptual skills.
• Recent experience in product categories.
• Availability to travel.
1. Merchandise Strategy and Vision:
Develops strategic vision for category by integrating competitive information, market research, sales and fashion trends to maximize sales and profit. Manage numerous projects from conception to rollout by prioritizing and organizing workflow to meet deadlines. Create and execute balanced assortments that supports the strategic vision. Present merchandise, promotional strategies, and comprehensive business reviews to the Executive level. Communicates vision and product strategies to cross functional teams to create a comprehensive Omni channel marketing strategy.
2. Vendor Management:
Key point of contact with external partners. Develop and foster respectful relationships with the vendors. Strategic selection of vendors to identify and develop strong partnerships. Negotiate annual purchasing agreement contracts. Provide collaborative guidance, direction and support to the Product Development team and vendors to implement product initiatives.
3. Leadership:
Lead by example to inspire passion and innovative thinking while fostering teamwork and collaboration with cross functional partners. Train, motivate, and develop team members to ensure effective performance, growth, and readiness for next level position.
4. Financial Management:
Actively participate in the fiscal financial planning process. Partner with the Planning and Allocation teams to co-manage the open-to-buy through assortment management, the negotiation of returns and product cost savings. Analyze historical data and current trends to identify risks and opportunities to increase sales, improve margins and maximize inventory.
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• Keen analytical and decision-making skills and the ability to accomplish objectives.
• Effective relationship building, communication (both verbal and written), and presentation skills
• Strong time management and organizational skills
• Possess stamina in pursuit of new strategies and different approaches
• Willingness to embrace new ideas and technology to support changes to the business
• Ability to quickly realize when to change direction or take appropriate risk
• Ability to partner and influence cross-functionally
• Advanced level knowledge of Excel; VLookups, Pivot Tables, etc.
• Strong command of retail math, including understanding of calculations for IMU, markdowns, gross margin, inventory turn, ROI, classification mix
• Understanding of product cost components
EDUCATION and/or EXPERIENCE
• Bachelor’s degree in Merchandising, Marketing, Digital Retail, or other related area
• Minimum of 3-5 years of retail buying and merchandising experience with 2 years e-commerce experience
• Evidence of progressive levels of responsibility
