In the case of wholesale buyers, merchandise is resold to retail firms, commercial establishments, and other institutions. Sometimes a buyer is referred to by the type of goods purchased, for example, jewelry buyer or toy buyer. As civilization developed, humans increased their dependence upon goods provided through retail establishments. One of the first buyers was Marco Polo who had been into his life’s business development careers. He traveled to the Far East and was determined to purchase spices, silks, and drugs for wealthy customers in Venice, Italy. Meanwhile, Christopher Columbus was motivated in large part by the desire to develop a shorter trade route to India. Many of the early roads and shipping routes through Europe and Asia were developed specifically for the movement of foreign goods by wholesalers to the local markets.
As the early American retail stores became more specialized and grew in size, a functional division occurred in store operations as part of sales business development jobs. Hence, to replace the owner-operator, who performed almost all of the store’s tasks, there emerged sales clerks, receiving and shipping clerks, advertising managers, personnel officers, and buyers. A wider range of available merchandise called for more astute selection and purchasing techniques. The development in turn, brought a rapid expansion of railroads projects, increased number of automobile production, airplane production and other the growth of the transportation system. Presently, the buyer is now a key part of the retail and wholesale industry, which has annual sales in the billions of dollars and employs millions of workers.
Wholesale and retail buyers are part of a complex system involving jobs in business development for production, distribution, and merchandising. They are both concerned with recognizing and satisfying the huge variety of consumer needs and desires. Both wholesale and retail buyers usually specialize in acquiring one or two lines of merchandise. Wholesale buyers purchase goods from manufacturers or from other wholesalers and sell it to retailers. They must be familiar with the products and capabilities in both domestic and foreign manufacturers and be able to anticipate their customer’s requirements. Wholesale buyers’ service and retail outlets are available throughout the country which aim to satisfy the customers’ diverse needs in a timely and cost-effective manner. As part of the business development job, they consult catalogs and computerized directories to learn about the products that are available, and they often consult with retail buyers to keep abreast of consumer preferences. Likewise, retail buyers work under one of two organizational patterns. In the first, the buyer works directly under a merchandise manager, combining its purchasing activities with authority and direct supervision of salespeople in the department involved. Thus, one person purchases the goods and then takes responsibility for their successful marketing. In the second pattern, merchandising and buying are separated. Buyers serve as specialists and have no supervisory responsibilities. In this case, however, buyers cooperate with the sales staff to promote maximum sales. Meanwhile, the assistant buyers work directly with experienced buyers. They also spend much of their time maintaining sales and inventory records. In addition, they may accompany buyers on purchasing trips or act for buyers who may be away for travel.
To be successful in jobs in business development, retail buyers must first understand the basic merchandising policies of their store. For instance, these questions should be considered: Does their employer seek volume sales of relatively low-quality goods or a more limited sale of high-quality goods? What is the usual cost of selling and rate of profit? How much discretion is allowed each buyer in the type and quantity of purchase? Take note that the amount of purchases will be affected by the size of the buyer’s annual budget, the timing in each buying season, and trends in the market. Retail buyers readily adopt a proprietary interest in their work. Success in buying is directly related to the clearly labeled profit or loss shown by particular departments. All buyers have been involved with marketing development jobs and are experts in the merchandise and transactions with which they deal. They order goods months ahead of their expected sale. They must be able to predetermine saleability based upon cost, style, and competitive items. Buyers must be able to ascertain directly such product elements as purpose, construction, durability, quality, and style. Additionally, buyers must be well acquainted with the best sources of supply for each type of goods they purchase. Buyers, wholesalers, and retailers must be involved throughout their entire career with strategic sales business development jobs in order to succeed in their business undertakings.
