Associate Buyer - Commerce
Accounting & Finance
New York, NY, USA
Posted on Wednesday, March 15, 2023
Food52 is an award-winning brand in the kitchen and home space, using an innovative commerce, content and community business model to reach over 24 million homecooks and homebodies, and was recently named No. 28 on Fast Company’s list of the World’s Most Innovative Companies of 2022. We’re passionate about giving our deeply-engaged audience everything they need to enjoy life’s most important pleasures – food, home & connection to others.
As part of an ongoing initiative, we remain focused and committed to diversity, equity, and inclusion as the center of our hiring process and our company culture. We're committed to building a community that values and honors the contributions of underrepresented communities to our shared culinary experience—starting with the Food52 family. You can read more about our support, and link to our progress, in our DEI Vision Statement.
About the Role
The primary responsibility of the Associate Buyer is to develop and manage the product assortment for the assigned category. The Associate Buyer is responsible for achieving the product category’s financial goals, developing seasonal plans, and driving new business strategies, as well as developing and maintaining partnerships with cross functional teams and vendors. This position will work closely with Product Design and Development, and cross-functional partners including Marketing, Ecommerce, Planning/Purchasing, Reporting/IT, Accounting and Sales.
Market Research and Competitive Knowledge/Analysis
Be an “expert” on consumer mindsets, motivations, behaviors, and preferences.
Conducts both qualitative and quantitative consumer research to gain an in-depth understanding of specific customer groups and anticipate future trends.
Identifies emerging trends and develops business strategies outlining strengths, weaknesses, new opportunities, and threats.
Communicates annual and seasonal strategies to functional areas (Inventory, Design, Sourcing, Production, Packaging, Visual)
Identifies and recommends new products or business opportunities
Leads the analysis of competitive markets, customer profiles and product metrics to help steer conversations about effective use of product development resources. Conducts research by shopping competition and analyzing price/quality/value relationship.
Obtains feedback from stores to improve product and add to collections
Develops and recommends seasonal and core product mix for department or area. Maintains existing product assortment for all categories by leading a regular schedule of category reviews focused on sales analysis, target margins, retail pricing structure, product mix and turn strategy.
Gathers, distills, analyzes, and presents cross-functional inputs and external frontline, targeted and strategic inputs to inform potential products and assortment plans. Presents key insights with relevant and actionable product strategies. Aligns the organization to the vision for new products before moving them into development.
Plans, develops, drives, and originates the new product assortment planning and approvals process strategies that balance customer’s expectations and business objectives.
Provides strategic insight on the nature and scope of future product lines to the product development team.
Partners with product development to ensure margin and quality goals are met and completed on time.
Creates and distributes assortment documentation to internal partners at regular intervals.
Researches sales performance, margin, and product mix to recommend product turnover.
Identifies and evaluates business cases for new product opportunities.
Forecasting and Planning
Collaborates with Inventory Planning to recommend adjustments (markdowns, delivery changes and quantity changes) to the plan to maximize sales, profits, budget (OTB) and to protect the brand.
Participates in the development of the annual and seasonal financial plans
Assists Director and Inventory Planning with determining appropriate adjustments (markdowns, delivery charges and quantity changes) to the plan to maximize sales, profits, budget (OTB) and to protect the brand. Recommends contest ideas and coordinates awards and in-store collateral
Sets targets for product pricing for new products by utilizing market research and analyzing sales figures to determine and advocate for a meaningful pricing structure.
Collaborates with Inventory Planning to develop annual and seasonal financial plans
Collaborates with Inventory Planning to provide Sourcing and Production Management with purchase quantities, delivery dates, flow and exit strategies for initial cost and production negotiations for new programs
Provides Inventory Planning with final assortment plans (line lists), product details, target retails, estimated IMU, importance to overall assortment (big bets), flow to DC and floor plan location for developing purchase projections and buy plans
Partners with Reporting/IT, Product Development, Finance, Accounting and NPI/CID to assess margin impact on the assortment as a whole.
Quantifies business opportunities for assigned products that support the overall assortment strategic plan.
Collaborates with Inventory Management and recommend adjustments (markdowns, delivery changes and quantity changes) to the plan to maximize sales, profits, budget (OTB) and to protect the brand.
Forecasting Strategy: Work with Product Development and Planning/Purchasing on new product forecasting.
Sales Steering Strategy: Work closely with the Marketing team to monitor the current active assortment and develop strategies for multi-channel merchandising /marketing efforts that support business goals.
Process Improvement: Develop and actively seek to improve tools and processes to drive efficient and successful cross-functional hand-offs and timelines. Represent the Merchandising Team in conversations focused on execution, process, communication, and timelines.
Special projects as assigned.
Teamwork –Embodies the qualities and values of trustworthiness, respect and accountability, setting an example for everyone. Exhibits objectivity and openness to others' views, giving and welcoming feedback. Able to build morale and group commitments to goals and supports everyone’s efforts to succeed.
Communication –Practices timely, proactive and respectful communication with everyone.
Change Management –Demonstrates a willingness to meet and adapt positively to the unexpected and changing needs of a dynamic, growing company.
Judgment-Exhibits sound and accurate judgment and includes appropriate people in decision-making process. Makes timely decisions.
Planning/Organizing -Prioritizes and plans work activities and uses time efficiently, developing realistic action plans.
Technical Skills -Assesses own strengths and weaknesses and strives to continuously build knowledge and skills. Shares expertise with others.
Quality Management -Looks for ways to improve and promote quality and exceptional customer experiences.
Innovation -Continually reviews systems, suggesting ways and tools to improve.
Self-Review –Is committed to continual improvement
Requirements & Qualifications
2 - 3 years of experience in a relevant product management related role, ideally in the home or tabletop/kitchen industry.
2 -3 years of experience managing complex operations or strategies.
Up to date with the latest merchandising trends and best practices
Demonstrated ability to conceive/create new thinking and ideas pertaining to the consumer and the product line – skilled “product eye”
Financial acumen and the ability to manipulate numbers
Excellent quantitative, analytical skills and ability to conduct analysis, problem solve and make decisions
Ability to make projections three years into the future.
Ability to work in a collaborative team environment and communicate cross-functionally with all levels of the organization
Excellent written, verbal and interpersonal communication skills
Strong initiative. Diligent, proactive, and results driven
Confident using Excel, including pivot tables and vlookups
Confident using Microsoft Office Suite
Office environment with frequent computer usage
Ability to travel
Compensation & Benefits
For residents of CT, NJ or NY the compensation range for this role is $80,000 - $100,000. Factors used to determine the salary range for a given position may impact what salary within the stated range may be offered to any particular candidate (e.g., years of experience, level of education obtained, etc.). Additionally, we offer a comprehensive benefits package which includes:
Medical, dental and vision options (some at no cost to you!)
Flexible spending accounts (health & dependent care)
Short and long term disability, life insurance
401(k) retirement plan
Paid holidays, unlimited vacation, company-wide week off (Winter Week)
Flexible hours and working arrangements
Exclusive access and employee discounts to our Food52 and Schoolhouse shop products!
Currently, Food52 does not provide Visa sponsorship. All applicants must be able to provide legal proof of their eligibility to work in the U.S.
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