Job Specifications
About the Job
Hello, potential PriceSmart candidate. We’re on a mission to hire the very best, and are committed to creating exceptional employee experiences where everyone is respected and has access to equal opportunity. We realize the greatest contributions to the company can come from anywhere in the organization, and we know that the next one could be yours!
The Assistant Buyer is responsible for supporting the Buyer in product selection, assortment planning, vendor management, and pricing management and promotional activities. This role requires a keen understanding of the retail landscape, market trends, and inventory management to assess products, recommend adjustments, and provide strategic input. The Assistant Buyer works collaboratively with cross-functional teams to ensure smooth execution of promotional, seasonal, and merchandising plans while maintaining a focus on financial objectives and product quality.
What You'll Do
Product Selection & Assortment Planning
Assess product samples and provide feedback to vendors to aid in the development and selection of new items.
Manage the set-up and approval process for new vendors, ensuring compliance with company standards.
Supervise the setup and approval process for new items, ensuring accurate and timely updates on key product information (e.g., first costs, discounts, payment terms, status codes).
Monitor SKU reports and recommend adjustments to optimize SKU selection and inventory performance.
Ensure all products and packaging meet negotiated specifications and quality standards through proper documentation and inspections/audits before they reach the sales floor.
Vendor Management
Maintain strong relationships with existing vendors and assist in onboarding new vendors.
Communicate regularly with suppliers to gather product information, assist in negotiating costs, and secure promotional support.
Plan and communicate seasonal and promotional calendars with vendors to ensure timely delivery of merchandise and promotions, optimizing sell-through rates.
Trade Expertise & Market Research
Assist the Buyer by attending and following up on trade shows, communicating with vendors, and providing market insights.
Conduct ongoing market research and provide input to the Buyer on purchasing decisions, staying up to date with industry trends.
Monitor competitor activities through comp shop reports and offer recommendations to maintain competitive advantage.
Pricing & Margin
Support pricing activities by monitoring weekly pricing reports and managing new item pricing targets.
Manage replenishment merchandise margins to ensure financial goals are met.
Stay informed on competitor pricing strategies and adjust cost savings or selling price to remain competitive.
Cross-Functional Collaboration
Collaborate effectively with key departments, including Logistics, Operations, and Compliance, by preparing and distributing merchandise reports and bulletins (e.g., new item reports, line review recaps, program timelines).
Serve as a liaison between buying, logistics, and other teams to ensure smooth execution of merchandising plans.
Promotion Planning
In collaboration with the Buyer, plan a promotional calendar aligned with seasonal trends and aimed at maximizing sales.
Negotiate promotional contracts with vendors and coordinate with the forecasting/replenishment team to ensure successful execution of promotions, with appropriate inventory levels.
Financial & Budget Management
Assist in planning rotational calendars, new item launches, and seasonal merchandise programs by analyzing financial data, including sales/margin projections and Open to Buy (OTB).
Monitor sell-through performance and recommend pricing strategies to clear out inactive or rotational items.
Use historical sales data and inventory levels to make informed recommendations on product selection, pricing, timing, and promotions.
Reporting & Analysis
Provide monthly analysis of departmental Key Performance Indicators (KPIs) to track successes, missed opportunities, and areas for improvement.
Support ongoing analysis of sales performance, margin contributions, and inventory turnover to inform future buying decisions.
Who You Are
Experience: 3-5 years of progressive experience in retail buying, merchandising, or product management.
Skills:
Strong analytical skills with the ability to assess market trends and sales data.
Proficiency in Excel and data management systems.
Excellent negotiation and communication skills.
Ability to work in a fast-paced environment with attention to detail and accuracy.
Proven experience in managing vendor relationships and product quality.
Familiarity with Open to Buy (OTB) planning and financial analysis.
Bilingual English/Spanish Preferred
Key Competencies:
Assess: Ability to evaluate product samples, market trends, and financial data to make informed decisions.
Recommend: Provide actionable recommendations on SKU adjustments, pricing strategies, and vendor
About the Company
PriceSmart is the original membership club and the largest in Central America, Colombia and the Caribbean, working with its members and suppliers to provide low unit prices on a hand-picked selection of high-quality items and services in a reliable, safe and fun shopping experience.
With over 47 clubs in 13 countries, PriceSmart serves more than 3 million members.
Additionally, we work in conjunction with Price Philanthropies, to support our local communities in the countries in which we operate, with programs such as Apr...
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