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In episode 6 the focus is on travel again, but this time inspiration trips, one of the most creative parts of the job! Similarly to a development trip, you will need to be keeping on top of your BAU, so again, as fabulous as the destinations can be, and nice it is to be out of the office, that day to day running of the team doesn’t go away - but it’s worth the juggle for the ideas you can get! We talk about the incredible places that Buyers get to visit, the quick turn around of product from festival to factory, and ….. It’s one of the the best ways to absorb yourself in creativity and see products from a consumer point of view - just make sure you take photos before you have a cheeky drink…!
Here are our 3 recommendations for inspo trips -
Don’t just stay in your lane, Inspiration trips are a great one for going with other departments, such as design, or marketing, or VM, and having a great bounce around of ideasIncorporate store visits if you have any in that area - great to see from customer point of view in another demographic/geo location Plan an Inspiration trip to gain the right information at the right time to influence your next range. Think carefully about timing. Ideally this will be at the beginning of your Critical Path to help you plan your strategy - but depending on your product category it might be months ahead of your CP starting e.g. beach inspiration trips may need to be in the summer (depending on where you’re going) but your CP may not need to start until the following February.. -
In episode 5, we continue our chat on suppliers - as we’ve said, they are the centre of product! We’re talking about that optimum number of suppliers, comparing our supply base to our wardrobe and building long standing relationships with core suppliers. We touch on sustainability, from more of a business stability point of view and discuss bringing on new suppliers, new products and new capabilities. Whether there is a return to heritage suppliers and long standing suppliers that understand your brand. How best do you manage suppliers, ensure they have the TLC they need, but also limit the contact in your already very busy day! Our top tips for creating and ensuring you have a great supply base to work with.
Here are our 3 recommendations-
Optimise, not rationalise. Fewer suppliers means more focus, but don’t get rid of too many! If you are considerate in what you need, you can make sure you have the strongest range and spread the risk. Encourage more partnerships, particularly with your top suppliers, invest in each other. Have full confidence in each other and support growth on both sides.Sustainability is key, make sure the right intentions are there, dont buy into greenwashing ensure your suppliers are clearly invested for the right reasons -
Saknas det avsnitt?
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In Episode 4 we talk about our experience of working with suppliers across the world, both direct factories and agents, in the UK, and the Far East. It feels like we have only just scratched the surface on this one as it is such a huge topic, suppliers are a huge part of a Buyer's life as without our suppliers and factories we wouldn’t have any product! We spend most of this episode talking about finding suppliers, developing relationships, and the importance of establishing a strong network of suppliers that you can rely on. How do you find a new supplier or factory? How do you know if they have the capabilities and the quality and prices will be as you need? This can be particularly hard when venturing into a new product area, so how do you onboard new suppliers without taking too much of a risk. Just imagine if there was a tripadvisor but for factories…gold dust!
More transparency is essential for more ethical practices. If we share more information on suppliers and factories we can protect our businesses AND support factories to grow. Take the view that a supplier is a tool for creating the product. The supplier is there to help to execute and if you’re confident with your brand handwriting then sharing the tools shouldn’t be a concernSupport your supplier and factories by sharing your product plans at the earliest opportunity so they are confident to plan better, pay their workers well, and encourage them to share their critical paths so you can work together to utilise the workforce better and potentially increase their production.Build your supply base for the long haul, a great team requires time and investment on both sides. By doing this you will future proof your range and it allows you to concentrate on developing great product and the best deals for both parties
Here are our top 3 takeaways from today's conversation… -
In episode 3 we continue the conversation around travelling, it’s all about preparation and being productive - as well as exhausted! Buying trips are so full on, it’s the definition of work hard and play hard. You have to fit in as much as possible in a very short space of time, but it’s worth it - and remember that sometimes you’re just so delirious and tired you just have to laugh (or you’ll cry!) It’s most definitely NOT a holiday - whatever other departments might think! Sure you get to see great places, and experience new cultures and try new foods, but it is intense and there is no down time. Just take it all in, you’ll be running at 100 mph, juggling everything, but you can rest when you get home…and make sure you do! The 3 things we really want to highlight from today's episode are:-
It’s not a holiday. It can be such an amazing experience, so much to take in with new cultures to and cuisines to try, but as we’ve said a few times, it will be exhausting, so be prepared. Take snacks, sleep aids and just embrace it. It’s the epitome of ‘work hard, play hard’ - you will be working closely with suppliers from early morning to late nights, and then often eating out in the evening, taking in a lot of information, and also juggling your BAU and team management back in the office (from a different time zone!)Think about geographical efficiencies in order to plan your trip effectively - as we’ve said, you will need to fit in as much as possible, so make it as easy as possible on yourself by making sure your schedule flows well. -
Travelling can be such an amazing experience, you can come back so full of ideas and expertise on your product category! It’s so important to get out to see factories, they are absolutely fascinating and really take you behind the scenes of the product. It can be one of the best parts of a buying role, and also one of the most exhausting.
Understanding the manufacturing processes of a product is invaluable. You see the end to end process, the intricacies and also the pain points. It will help you to make improvements to your product, and also assist in your negotiations to ensure your product remains good quality & VFMAsk questions and be inquisitive. You often find you uncover new product capabilities, and you’ll supercharge your knowledge of the product areas seeing the manufacturing process first hand. Become an expert. Spending time with your suppliers and having face to face meetings can really improve your relationship and your communications. It’s much easier to share and explain in person
We would really encourage you to put the following into action during your product development trips - -
We’re back for Season 2 - and you’ve made it! That title is yours! You are now the leader of the team…but with that comes responsibilities too. You’re setting the strategy, you’re creating and selecting all the products, it’s your range and your vision, but you’re also moving into more of a management role. It’s such an exciting time becoming a buyer and finally getting that title is the ultimate dream, so lets celebrate with 3 reasons we love being a Buyer -
You now have full control to set the direction, put all your plans into place and steer your ship (...under the leadership of your Head of Buying/Buying Director/CEO…etc, lets not get too carried away now!)The opportunity to build the team you want around you, to nurture and create Buyers of the future. You also have the responsibility of balancing keeping your team in the loop, but also keeping them motivated, which may mean protecting them from direction, decisions and difficult conversations from the top. You can make a positive change - treat your team how you would like to be treated, value their opinions and be a role model (maybe the one you wish you’d had….) -
We’re ending this season by reminding ourselves why we love our jobs in retail buying, more trips down memory lane, the friends we’ve made, the parties we’ve been to and the fun, laughter and creativity that comes with it!
Here are our favourite things about Buying summarised into 3 points -
1) The excitement of a new idea brewing, working with your team to bring the idea to life, launching with bells & whistles, seeing the success in sales and joy it brings to customers and then analysing how and why it was such a success, and figuring out how to do it all again - same same but different!
2) Being at the forefront of trends, new and exciting creativity, products and projects, and being surrounded all day everyday (mostly) with people who share the same passion and designs that inspire and keep you motivated
3) Discovering new products, sourcing new fabrics and materials and visiting factories to learn all about the manufacturing, new processes and driving a more sustainable agenda.
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In this episode we’re chatting about all things management, so often there is no training and you just have to learn on the job. We discuss our first experiences of managing, our preferred management style and the importance of managing up and down.
Here are three things we would encourage managers to do -
1) Check in, show up be, present for your team - you’ll gain their respect.
2) Adapt your communication style depending on who you’re talking with to get the best result.
3) Align your goals. You are your team, there’s no ‘I’ in team. If they’re performing, then you’re performing.
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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 2023So 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!
If you've liked this episode please rate, follow, subscribe and share :) and if you already have, thank you!
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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!
If you've liked this episode please rate, follow, subscribe and share :) and if you already have, thank you!
Follow us @buyingandbeyond on Instagram
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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!
If you've liked this episode please rate, follow, subscribe and share :) and if you already have, thank you!
Follow us @buyingandbeyond on Instagram
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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!)
If you've liked this episode please rate, follow, subscribe and share :) and if you already have, thank you!
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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
If you've liked this episode please rate, follow, subscribe and share :) and if you already have, thank you!
Follow us @buyingandbeyond on Instagram
www.buyingandbeyond.com -
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.
@buyingandbeyond on Instagram
www.buyingandbeyond.com
