24 Hour Fitness, INC. Retail Merchandise Buyer in San Ramon, California
LOCATION 12647 Alcosta Blvd San Ramon CA 94583
The Retail Merchandise Buyer creates, manages, and strategizes product assortments for their departments and categories. Major responsibilities encompass product selection, pricing/promotions, vendor negotiations, and partnerships including cost and scan credit/discounts, planogram/visual merchandising, and promotional planning. The overarching goal is to meet or exceed sales and margin budgets. Additional key tasks include: Plan-o-gram schematic direction with outside space management company; monthly promotional signage execution, and daily/weekly/monthly performance recapping. Reporting to the Senior Merchandise Manager, this position also interfaces with the VP of Retail.
ESSENTIAL DUTIES & RESPONSIBILTIES Estimated % of Time Spent
- Strategy and Assortment Development
Builds and delivers a strong product offering that meets or exceeds budgeted sales and margin goals in clubs. Strategizes and adjusts assortment regularly to this goal and to maintain a fresh offering.
Communicates strategy to all business partners, including Planning/Allocation, Operations, and Logistics teams, from inception of business plan to markdown.
Creates action plans for entire product life cycle from growth to decline.
Is the product expert for their assigned categories. Possesses deep knowledge of newness, trends, and the dynamics in the market place. Uses this knowledge to assist with product education initiatives.
Researches and identifies new product and vendor opportunities. Obtains samples and information to share with Sr. Merchandise Manager and V.P. of Retail. Presents regular category performance reviews.
Tests new product regularly through disciplined means. Objectively gauges results to strategize accordingly.
Reviews and shops competition, retail and online to ensure 24 Hour Fitness offers a market-leading assortment and is priced appropriately.
Partners with Sr. Merchandise Manager and Marketing department on marketing initiatives that support the business. Responsible for coordinating the monthly promotional Marketing Brief in conjunction with the Sr. Merchandise Manager
Visits clubs to gauge success of strategies in place and to gain actionable feedback. 30%
- Vendor Management
Responsible for day to day communication with vendors including requests for samples for floor sets, and images / creative assets for Marketing in the creation of monthly signage. Responsible for initiating and managing New Vendor set-up and NIF (New Item Form) process with Vendors and execution with Retail Specialist.
Responsible for day to day Vendor Management: Retail Merchandise Buyer must communicate pricing scenarios, new item process, special promotional opportunities, sales forecasts, and escalate any vendor performance issues to the Sr. Merchandise Manager.
Initiates new vendor contract process and manages through to agreement and approval in a timely manner.
Negotiates best price, scan credits/discounts to support promotions, marketing support, and reimbursement for defective and distressed products.
Acts as point person for vendor sponsored in-club events, e.g. product sampling.
Ensures vendors' timely remittance of any funds/credits due 24 Hour Fitness.
Attends trade shows as relevant. 20%
- Analysis of the Business
Partners with Planner(s) to develop a financial budget for the year. Articulates a 90 day/ quarterly strategy encompassing assortment changes and promotional activity at a category/sku level to achieve budget.
Calculates, interprets, and clearly articulates the following performance aspects of business: year-over-year variances, trend forecasting, selling relationships within product categories, promotional acceleration, category performance as percent to budget, and gross margin analysis by category down to sku level.
Makes data driven decisions based on historical sales trends and test results. Able to read, interpret and analyze information in order to make smart decisions and achieve sales and margin goals.
Lead regular business reviews with functional partners -- Planning & Allocations, Logistics, and Retail Ops. 20%
- Promotional Planning and Development
Strategizes and revises promotional plans across all categories to drive revenue and maximize margin. Collaborates with Planner(s) to ensure integrity of promo plans and to quantify and ensure proper inventory investment to support all.
Works with vendors to obtain scan credits and/or other tangible support (e.g. shippers, assets, samples, contest funding) that support achievement of promotional sales and margin goals.
Clearly outlines and communicates solidified promotional event details to functional partners -- Planning, Allocation, Retail Specialists, Logistics, Retail Ops, Marketing, Sr. Merchandise Manager and VP of Retail when applicable.
Initiates promo signage request and reviews signage developed for all promotions for accuracy, clarity, aesthetics, and impact.
Ensures promotions are competitively priced for the marketplace while honoring vendor agreements. 20%
Maintains an expert knowledge on the complex variety of planograms/club footprints. Plans and manages product assortment accordingly.
Responsible for creating and publishing all planogram execution documents, including the planogram monthly promotional calendar and marketing map.
Executes planogram changes/refreshes regularly to keep the retail area fresh and organized, to support key business trends driving sales, and to highlight notable products, brands or launches.
Ensures all planogram revisions, product introductions or product drops, are clearly communicated to all functional partners -- Planning, Allocations, Logistics, Retail Ops, Marketing, the Sr Merchandise Manager and VP of Retail when applicable.
Monitors impact of planogram changes to business trends. Adjusts as necessary. 10%
Knowledge, Skills & Abilities
5-7 years' experience in retail buying, procurement and/or category management experience.
Ability to create and execute assortment strategies while maintaining efficient time management. Meet deadlines in a fast paced and changing environment.
Possesses strong analytical and retail math skills while having the ability to interpret historical data and sales trends in order to make smart buying decisions to achieve financial goals.
Must have intermediate proficiency with Microsoft Excel & Power Point (intermediate to advanced Excel skills required; v-lookups, pivot tables, etc.).
Ability to work independently to execute daily tasks on projects and meet required timelines for completion.
Ability to interface and maintain excellent professional relationships with corporate partners, field partners and vendors.
Must have strong communication and negotiation skills and be able to articulate strategy and execution to all business partners and vendors.
Familiarity with fitness and/or supplement industry a plus.
Minimum Educational Level/Certifications
- Bachelor's Degree.
Minimum Work Experience and Qualifications
4-5 years of retail buying, procurement, and/or category management experience.
Direct responsibility for financial performance of assigned departments.
Strong retail math skills and ability to make data driven decisions.
Familiarity working with retail planning, marketing, logistics and finance.
Intermediate proficiency with Microsoft Excel & Power Point.
Physical Demands/ Environmental Conditions
- Must be able to lift 30 lbs or more for sample sets of POG's.
- Light domestic travel, short duration trips
FUNCTIONAL GROUP Merchandising