Skincare Buyer at Buybeta Investment Limited

Job Description

• The Skincare Buyer will lead the selection, procurement, and inventory management of skincare products for our company, working closely with vendors and internal teams to develop an attractive and profitable product mix.
• The ideal candidate will have a deep understanding of the skincare industry, a strong sense of consumer preferences, and the ability to drive sales through effective product assortment and vendor partnerships.
• This position plays a key role in ensuring that our skincare offerings reflect market trends and meet the needs of our target customers.

Key Responsibilities

Product Selection and Sourcing:

• Identify and source skincare products that align with market trends, customer preferences, and company objectives.
• Analyze current product offerings, conduct market research, and attend industry events to stay updated on trends and innovations.
• Collaborate with new and existing vendors to negotiate competitive pricing, payment terms, and exclusivity agreements.
• Assess the quality, brand reputation, and market demand of potential products and suppliers.

Inventory and Assortment Planning:

• Develop and execute product assortment strategies that meet category goals and maintain a balanced inventory.
• Collaborate with the planning and merchandising teams to forecast demand, set inventory levels, and optimize stock turnover.
• Collaborate with the Inventory Team to Manage inventory replenishment, identifying high-performing products for reordering and phasing out low-performing items.

Pricing and Profitability:

• Monitor product performance and lifecycle, making decisions on markdowns, promotions, and product discontinuation.
• Ensure that the company has the best buying price in the market.

Vendor and Relationship Management:

• Build and maintain strong relationships with skincare brands and vendors to secure preferred pricing, exclusive launches, and co-marketing opportunities.
• Conduct regular performance evaluations with vendors to ensure compliance with terms and resolve any supply chain or quality issues.
• Work with vendors to negotiate promotional and marketing support for key product launches or seasonal events.

Market Research and Competitive Analysis:

• Conduct competitive analysis to identify market gaps, emerging trends, and pricing benchmarks.
• Stay informed about consumer behavior and preferences, translating insights into product recommendations and buying strategies.
• Collaborate with marketing teams to align product selection with brand messaging and customer engagement strategies.

Cross-Functional Collaboration:

• Partner with marketing, sales, and e-commerce teams to create effective product launches, promotions, and merchandising plans.
• Coordinate with logistics and operations teams to ensure smooth product delivery and availability.
• Provide insights and recommendations to guide visual merchandising, online product pages, and customer communications

Qualifications

• Bachelor’s degree in business, marketing, merchandising, or a related field (or equivalent experience).
• 3-5+ years of experiencein a buying or merchandising role, preferably in the beauty or skincare industry.
• Strong understanding of skincare products, ingredients, and consumer preferences.
• Proven ability to analyze market trends, interpret sales data, and make strategic product recommendations.
• Excellent negotiation skills and experience managing vendor relationships.
• Strong organizational and project management skills, with an ability to handle multiple priorities and meet deadlines.
• Proficiency in Microsoft Excel and inventory management or ERP software.
• Exceptional communication and interpersonal skills, with a collaborative approach to working with internal teams and vendors.

Preferred Skills:

• Familiarity with skincare trends, ingredients, and consumer behaviors.
• Experience with digital and e-commerce platforms.
• Analytical mindset with a passion for numbers, trends, and the evolving beauty industry.