Retail Buyer

Key responsibilities

• Monitor sales data, stock levels, sell-through, stock turnover, aged inventory and market conditions to forecast demand and determine the appropriate product types, quantities, quality, price points and timing of purchases.
• Research jewellery, precious metals, diamonds, gemstones, watches and bullion markets, including supplier offerings and changing customer and industry trends, to support purchasing and product range decisions.
• Source and select finished jewellery, loose diamonds, gold, bullion, gemstones, watches and jewellery components from international suppliers, and negotiate cost prices, quantities, delivery schedules, payment terms, product specifications and other trading arrangements with suppliers and offshore manufacturers.
• Work with management on longer-term product planning and range development.
• Develop and implement pricing, promotional and visual display strategies for jewellery and bullion ranges.
• Analyse product and category performance and determine appropriate reordering, markdown, clearance or discontinuation strategies for excess or slow-moving stock while maintaining target gross profit margins.
• Support stock allocation and product availability across the showroom and online channel.
• Monitor purchasing expenditure, stock investment, revenue and gross profit performance, including the impact of gold price movements on purchasing and production costs, and provide regular buying and merchandise performance reports to management.