How do you know if buying is the right job for you in the fashion industry?
First of all, I must share with you the two biggest misconceptions. When interviewing assistant buyers many times I ask what interests them in buying. One of the top answers is "I love to shop so I want to do it full time." If this is your answer you will be very disappointed. My second question is usually, "Do you like math?" When the answer is "No, why?" That is when I quickly recommend they find another job within the fashion industry.
Truthfully, 90% of the time buying entails analyzing business, doing retail math and working in Excel. In order to know what to buy for the market(s) you are buying for you must know who the customer is, their shopping patterns, the prices they are willing to spend, the types of items they are looking for and their sizes. How do you learn this information?
1.Most importantly... spending time in the stores you are buying for so you can see first hand who the customer is and what they are looking for.
2. Market Analysis- Reviewing sales, running and analyzing reports
3. Feedback from stores and managers
4. Industry Trends
5. Shopping the competition
Buying is a great position for individuals who like a balance between the creative and the analytical. It challenges both sides of the brain.
Buying is not all numbers and Excel though it is mostly. The fun part is using what you have learned through your analysis to put together the most profitable assortments when buying the collection in a showroom. Fashion shows are also another plus and many times you are given some sort of clothing allowance or discount on clothing to look the part and represent the company you are working for. Despite these exciting benefits don't ever forget your goal as a buyer is to make money for the company and buy the right product in order to fully capitalize on sales and grow the business.
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