Determinants of a Rewarding Fashion Buyer Salary

Nature of Work

Salary of a fashion largely depends on the nature of work. Opening a fashion outlet or a boutique gives a low start, but; ensures higher returns in the long term depending on the creativity and market sense of an individual. Obviously; working for a retail garment store, private fashion outlet or a fashion store adds up to the returns of a buyer, as it provides the required practical exposure and professional training.

Skills and Experience

A degree in fashion designing or fashion management is enough to start off the career of a fashion buyer. But, a good amount of relevant experience at a retail outlet or fashion outlet is always a must to get a high start in salary. Being analytical, logical, organized and strategic also increases the monetary gains of a fashion, as these skills determine the scale of business.

The creative spark present within a candidate makes him earn a large amount of money in the long run. That means, higher the creative ideas, higher the returns of a buyer. In addition to these elements, a high degree of self motivation is required to face the highs and lows of this hectic profession.

Knowledge of Market Trend

Understanding the past, present and future market and fashion trends is equally important for a fashion. Tapping the scope of innovation, launch of new fashion design, identification of new fashion apparel markets and timely elimination of the outdated fashion apparel makes up the market sense of a fashion buyer. More the fashion sense and knowledge of market trends, more the fashion buyer salary.

How To Get Your Fashion Designs in Boutiques: The Inside Scoop From a Fashion Buyer!

Getting your fashion designs in stores can give you major credibility, exposure and prestige! Retail stores have large customer bases, lots of foot traffic, and well-marketed online sites that can really help to launch your brand!

For new designers, I recommend that you focus on getting your designs sold in small boutiques before trying to get into department stores to gain exposure and to learn the ropes. Small boutiques are usually more flexible for new designers and you can use the exposure in their store to help build up press about your brand.

Trend & Lifestyle
Do your designs cater to the stores target demographic? Do your designs fit into the lifestyle of the consumer? Does your product work with what is fashionable/ on trend in their stores? Make sure that you visit stores to make sure your brand makes sense there before setting up meetings with Fashion Buyers. You don’t want to waste a ton of time trying to sell your hipster clothing line to a store, only to realize that they focus on purchasing wear-to-work clothing for businesswomen.

Price Range
Do you understand what customers are willing to pay for your product? How much are customers paying right now for similar products? Have you done your research? Stores have to be able to make a profit and you need to make sure you have priced your designs for you to make a profit before even meeting with any buyers. In a tough economy, Buyers are playing it safe when it comes to price, so this can make or break you.

Hanger Appeal
Does your product sell itself just by being on a hanger or is it tricky and only looks good when a customer tries it on? Your product must function and look fabulous with no explanation/convincing from sales people. Product needs to have hanger appeal that will convince buyers that customers will see your product in their stores and will just have to buy it on the spot!

Distribution
Fashion Buyers will want to know who else you sell your designs to. Are you established in other stores, like small boutiques or do have a big online following? Will your designs be exclusive to their store or is it the same product that you are selling in other stores?

Delivery
You have to be able to ship your product on the agreed date. You cannot be late. Trust me, you don’t want to be late…it can become a very, very expensive mistake! If you are late on shipping your product, a buyer might decide to just cancel their order all together, which can potentially put you out of business if it’s a big order because you’ve already spent the money to make the product and now you have nowhere to sent it. Also, how often will you ship new collections? Generally, most brands ship new designs monthly, some ship new product twice a month.

Are you Ready?
Fashion Buyers want to make sure you are really ready to be in business. Their stores credibility is at stake if something goes wrong with your product (such as quality issues, late shipments, etc). Stores are taking a risk by doing business with you and do not want to be let down if you can’t deliver on your agreements.

Next Steps
If Fashion Buyers are excited about your line and you meet all of the applicable criteria that I mentioned in the post, they may want to give you an order. Buyers may want to “test” or try your product in 1 of their stores or in a handful of their stores. You will sell the product to them at a cost price (set by you) and you and the buyer will work out the rest of the details from there.

It can be a difficult for a brand new designer to launch their designs in well-known stores because of the lack of credibility and selling history as a newbie. This is why I recommend that new designers start out trying to sell to small boutiques. You can start out with a small order, as a test and hopefully grow from there.

Some new designers may decide to start out by doing consignment with small boutiques. Selling on consignment basically means that your designs will be put up for sale in the store and you will only get paid for what sells. Just be aware that this concept works to the stores advantage, not yours (there is basically no risk for the store if the product doesn’t sell). You will have to take back what doesn’t sell (or you can try sell it to the store at a discounted price).

Finding Careers in the Fashion Industry

The vibrant, ever-changing fashion industry is always looking for brilliant minds with an idea of what comes next in design and merchandising. Could you be that visionary voice? What does the future hold for jobs in the fashion industry?

Check out some of the top fashion industry jobs, and learn what you can do to work your way into one of these exciting careers.

Fashion & Retail Management

If you love fashion and you’ve always wanted to own your own business, a degree in retail management could be right up your alley. You already know what shoes to pair with that little black dress for the perfect night out, but you need to learn the details of management as it relates to fashion. Courses in fashion sales, retail history, and more can give you the experience you need to enter the field with confidence.

Management Salary Points. In 2007, retail sales managers and supervisors saw mean annual earnings of $39,210, according to the Bureau of Labor Statistics (BLS). Management positions at high-end boutiques and specialty stores might earn more, depending on location and experience.

Fashion Merchandising Careers

If you stand behind your brand, you have to be able to sell it. Fashion merchandising is an umbrella term that covers a range of careers, including: Merchandise managers ” Fashion buyers ” Fashion marketers ” Fashion sales

Even those who specialize in creating window dressings for department stores fall under the category of fashion merchandising.

Fashion merchandise managers see a lot of use in today’s fashion economy. “Today it’s the merchandise manager who carries the weight,” Marvin Traub, a retail consultant, told the New York Times. “He has an eye to the numbers.” While a degree or certificate in fashion merchandising may not be required for all careers, it can help to have the technical knowledge you can pair with you existing passion.

Merchandising Salary Points. Wholesale and retail buyers earned $53,580 in 2007, the BLS reports. That same year, purchasing managers across all industries earned mean annual wages of $90,430. While that figure goes well beyond the fashion industry, it should give you an idea of the kind of salary a skilled manager in the field might expect.

Fashion Designers

When you first think of jobs in the fashion industry, you might picture famous fashion designers like Donatella Versace or Michael Kors. While it’s true that most work can be found in fashion hubs California and New York, designers typically work all over the country, running small businesses and boutiques. Whether you’re dreaming of small-town success or a big-city dream, training in fashion design can get you there.

Fashion Design Salary Points. Fashion designers saw mean annual wages of $71,170 in 2007, according to the BLS. Most designers worked in New York or California, cementing the notion that your best chances for employment are on the opposite coasts.

While competition is keen for many careers and no degree can guarantee a job, graduates of fashion schools are still finding a viable job market. Research fashion schools to get a better idea of your potential future.