In Episode 8 we chat about a really common task that most buyers carry out called a compshop. It’s really about how we gather our market data and take inspiration from retailers. It’s important to remember that this isnt copying or stealing ideas its gathering information to identify trends and also make sure you are relevant in the market place. It can help you to also identify and define your USP and understand a range structure when looking at a new category. 

*Side note: MK = Marie Kondo!

Our top 3 suggestions for making sure you get the most impactful ideas & inspiration for your product ranges are: 

1) Get out to stores, no matter how busy you are. Online is great for giving you wide reach view on the retail landscape, but there’s nothing quite like seeing and feeling the product to really understand the size, weight, quality, colour, value for money, etc etc etc.

2) Inspiration can be found everywhere - walking through your local town, popping to your local garden centre, going out for dinner with friends

3) Share your finds and ideas - make sure you plan in some time to follow up before you get bogged down with the BAU (Business as usual….!)

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In this Episode we focus on the Sign Off meeting, we set the scene, talk about the general scenarios you might find, the questions you may face, and how to handle it all like an absolute pro..!

Our top tips for a successful sign off…

1) Confidence in presenting, this is your show, and keep calm when questioned, even when you don't know the answers

2) Ask for constructive feedback, don’t be afraid to ask why 

3) Push for the products you believe in, they will respect you for standing up for the range you pulled together  - but don’t fight too hard as the final decision is theirs, and ultimately they are accountable

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Episode 6 is all about the critical path, which is essentially a sequence of tasks you need to finish on time in order to complete your initiative. It’s a flow chart that needs to be followed as tightly as possible as any delays in critical tasks will delay your whole project. It starts from setting your strategy and takes you all the way through to launching your products on time - you hope! It’s more critical and creative thinking too, if you face an obstacle in your critical path, how are you going to find a work around. Time is money! Buyers are always working in the future, planning for at least 6 months, if not 1 year, or even 18 months ahead. It’s can be a long process - and so this is a long episode! 

*note this episode was recorded in December 2023

So our round up of episode 6 is -

1) Plan plan plan but be prepared for it not to go to plan

2) The key to a successful sign off is a clear informative strategy and those product review touch points

3) Everyone has a role to play but essentially you are the conductor. The buyer must keep everyone on track an ensure that they have completed their parts of the plan

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In episode 5 we talk about trade. It's the main meeting that shapes our week, challenges us to think creatively and find solutions. It focuses on sales - how did you perform last week, what is your forecast for the next week, month, etc. Buyers costly analyse numbers as the key objective is to drive sales and see the business is growing - and if it isn't you need to be quick to adapt and come up with the new sales driving ideas. A successful trade meeting can also really be about how your present the facts, how are you trading your stock and being flexible to the needs of the business - a good performance equals good results (whether your sales are up or down!) 

Here are our top 3 tips to survive a trade meeting - 

1) Speak confidently, you know your category inside out… if your thrown by an unexpected question keep calm and say you will find out and get back to them ASAP- but make sure you give an update by EOD!

2) Always have an action plan…no one really cares how sales were last week if you don’t have any idea what your going to do to drive them next week. You need to focus on the future

3) Every company has a different way of saying things, if you don’t understand find out! It could be you want to check the buyers guide, or the line detail, or the sales report..it’s all the same thing, just worded differently! 

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In this episode we explore the differences between own brand development and branded buying, discuss how Buyers are responsible for everything and we have a giggle about some sampling mishaps. Both types of Buying have their pros & cons, so if you’re looking to get into Buying it’s good to be aware of your strengths and also the type of buying that the retailer, or department, you’re applying for is focused on, so you can make sure that you’re joining a business that you’ll be happy with and plays to your strengths!

These are the top 3 skills we think you need to be successful in these types of Buying roles -

1) Creative; whether it's product design, range building, price engineering or brand positioning, it's important to think creativily.

2) Collaborative; a open mindset to work with your designer, merchandiser and brands 

3) Numerical; it's good to be a creative who understanding numbers - even if you have a merchandiser to do the crunching, an awareness of what the figures mean is essential and something you can learn!

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In this episode we talk about the different roles in Buying , starting from entry level and working our way up the ladder step by step… and depending what company you work for there can be a lot of rungs to that ladder! We will explain some of the differences between companies, how the  number of levels often depends on the structure and size of Buying department, and also the responsibilities that come with those roles.

Our key take aways from this episode are: 

1) Hard work & enthusiasm go a long way…don’t give up! Go above & beyond, work at the next level and you’ll be rewarded

2) Respect experience…knowing it’s taken so long to work up the ladder, the time spent and scenarios experienced, just ask questions and learn - don’t be afraid to ask!

3) Be strong, develop a thick skin - all experiences (good & bad) will help shape you for the future!

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In this episode we’ll share all about landing our first jobs, from how we found out about the roles, to interviews, to our first days! After all the studying and internships then came the daunting process of finding a role, and then the big day is upon us, like the first day at school! 

The 3 top things from episode 2 we want to share with you are….

1) Talk to people (again, we reiterate!) It’s about making those connections
2) Be excited, show your passionate, make it clear how much you love Buying and the retailer
3) It’s not you, it’s me! If you don’t get the job, don’t be disheartened, it can be simple as team fit, it’s not that you don't have the skill set, it might just be the spark isn't there (on both sides!)

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In episode 1 we’re going right back to the beginning to give you all an insight into how we got into buying in the first place - we hope that this podcast is not just relatable, but also educational, and hopefully helpful to anyone looking to get into the industry too! We’ll share our backgrounds, our work experience, our interviews and landing our first jobs..

The 3 top things we learnt from today's episode are….

1) Do what you love - study the subjects that you enjoy. That will take you places

2) Work Experience - immerse yourself into the industry

3) Make connections - talking to people - building relationships

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Welcome to the Buying & Beyond podcast, the podcast for all things Retail Buying….and more!

Join us, Kate & Lyns, buyers and best friends, each week for industry insights, stories and expertise from real people in retail.  

Enjoy honest stories and conversations, retail therapy and learn bite-sized tips from us and our friends from across the industry. 

We are your modern day mentors, prepping buyers of the future and empowering retail businesses by offering a support network & all the tools of the trade. 

Support the show

If you've liked this episode please rate, follow, subscribe and share :)
- and if you already have, thank you!

Follow us @buyingandbeyond on Instagram

Send us a DM or email [email protected]

Find out more about us www.buyingandbeyond.co.uk

If you'd like to show a little more love, then head here to give us just a little bit *extra* and show us your support :) thank you!

https://www.buzzsprout.com/2300060/support