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The differences between merchandise analysts and market research analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a merchandise analyst and a market research analyst. Additionally, a merchandise analyst has an average salary of $67,933, which is higher than the $51,688 average annual salary of a market research analyst.
The top three skills for a merchandise analyst include powerpoint, SQL and data analysis. The most important skills for a market research analyst are powerpoint, data analysis, and SPSS.
| Merchandise Analyst | Market Research Analyst | |
| Yearly salary | $67,933 | $51,688 |
| Hourly rate | $32.66 | $24.85 |
| Growth rate | 19% | 19% |
| Number of jobs | 38,127 | 71,240 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 72% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
A merchandise analyst is an individual who monitors inventory levels while following and charting the profits and sales of a store or company. Merchandise analysts are required to identify appropriate industry and product categories so that they can focus on maximizing the business of each store. They must review and analyze weekly advertisement results with team members to meet their sales goals as well as identify causes of high carryover and methods for reduction. Merchandise analysts must also use data analysis to identify markets and fine-tune merchandise.
A market research analyst is an individual who studies the market conditions so that he/she or she can examine the potential sales of an organization's product or service. Market research analysts are required to devise and evaluate methods for collecting data such as surveys, focus groups, and opinion polls. They must interpret the data they have collected and presented their findings to executives and clients to help them make better-informed decisions. Market research analysts are also required to create visuals of industry trends and competitors so the company can predict how it fares in the marketplace.
Merchandise analysts and market research analysts have different pay scales, as shown below.
| Merchandise Analyst | Market Research Analyst | |
| Average salary | $67,933 | $51,688 |
| Salary range | Between $49,000 And $92,000 | Between $36,000 And $73,000 |
| Highest paying City | Seattle, WA | Seattle, WA |
| Highest paying state | Washington | Delaware |
| Best paying company | Macy's | Imply |
| Best paying industry | Retail | Technology |
There are a few differences between a merchandise analyst and a market research analyst in terms of educational background:
| Merchandise Analyst | Market Research Analyst | |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between merchandise analysts' and market research analysts' demographics:
| Merchandise Analyst | Market Research Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 36.6% Female, 63.4% | Male, 51.2% Female, 48.8% |
| Race ratio | Black or African American, 5.1% Unknown, 5.0% Hispanic or Latino, 12.2% Asian, 10.7% White, 66.9% American Indian and Alaska Native, 0.1% | Black or African American, 4.7% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.3% White, 64.7% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |