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The differences between retail buyers and strategic buyers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a retail buyer, becoming a strategic buyer takes usually requires 4-6 years. Additionally, a strategic buyer has an average salary of $74,725, which is higher than the $52,720 average annual salary of a retail buyer.
The top three skills for a retail buyer include gross margin, vendor relations and customer service. The most important skills for a strategic buyer are supply chain, purchase orders, and strategic sourcing.
| Retail Buyer | Strategic Buyer | |
| Yearly salary | $52,720 | $74,725 |
| Hourly rate | $25.35 | $35.93 |
| Growth rate | - | - |
| Number of jobs | 74,254 | 23,156 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 73% |
| Average age | 44 | 48 |
| Years of experience | 4 | 6 |
A retail buyer keeps accurate stock records so that they can purchase only necessary items for resale. They work within a specific budget and solve all the issues that arise with the supplier or merchandise. Besides determining contract terms and conditions, retail buyers also modify purchase orders as per the demand, availability, and season. Moreover, retail buyers choose the perfect merchandise to purchase by reviewing the catalogs. Furthermore, they locate, select, and procure merchandise for resale.
A strategic buyer defines detailed plans and objectives for each project as per the organization and business unit purchasing strategies. Besides undertaking benchmarking and updating activity and project progress, strategic buyers also control the supply chain actions and supply chain risks to keep the supply chain secure. Also, these professionals negotiate favorable, effective, and precise terms and conditions as per the rules. Moreover, strategic buyers control the projects' risks and create an effective action plan to achieve all project objectives.
Retail buyers and strategic buyers have different pay scales, as shown below.
| Retail Buyer | Strategic Buyer | |
| Average salary | $52,720 | $74,725 |
| Salary range | Between $38,000 And $72,000 | Between $51,000 And $109,000 |
| Highest paying City | Edison, NJ | Pleasanton, CA |
| Highest paying state | New Jersey | California |
| Best paying company | VF | Entegris |
| Best paying industry | Start-up | Manufacturing |
There are a few differences between a retail buyer and a strategic buyer in terms of educational background:
| Retail Buyer | Strategic Buyer | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Akron | University of Pennsylvania |
Here are the differences between retail buyers' and strategic buyers' demographics:
| Retail Buyer | Strategic Buyer | |
| Average age | 44 | 48 |
| Gender ratio | Male, 31.5% Female, 68.5% | Male, 61.7% Female, 38.3% |
| Race ratio | Black or African American, 8.1% Unknown, 4.5% Hispanic or Latino, 17.9% Asian, 5.8% White, 63.3% American Indian and Alaska Native, 0.3% | Black or African American, 8.9% Unknown, 4.4% Hispanic or Latino, 12.3% Asian, 7.7% White, 66.0% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 9% | 7% |