JOB SUMMARY:
The Retail Buyer is responsible for developing and executing assortment and inventory strategies that drive sales, gross margin, and inventory productivity across assigned retail locations within our New Jersey market. This role owns vendor partnerships, negotiates cost and commercial terms, and ensures optimal product mix between internal and third-party brands where applicable. The Retail Buyer actively manages budgets, sell-through, and aging inventory, collaborates cross-functionally on pricing and promotional strategy, and ensures compliance with all state cannabis regulations. The role leverages data analytics and market insights to optimize category performance and support company-wide financial objectives.
JOB DUTIES:
Core duties and responsibilities include the following. Other duties may be assigned.
Assortment Architecture & Strategy
- Assist the Director of Buying in developing assortment architectures that account for price bands, depth of choice, and key vendor partnerships across all retail locations.
- Support the company's assortment architecture initiative by assigning brands to pricing tiers based on product quality and cost, including recommended retail pricing and promotional components.
- Monitor shifts in consumer purchasing behavior by package size (eighths, quarters, halves, ounces) and adjust assortment, pricing, and promotional strategy to protect overall pounds sold and profitability.
- Actively manage the full product lifecycle from introduction through maturity and exit, ensuring disciplined SKU onboarding, performance tracking, and rationalization.
Buying & Purchasing Operations
- Responsible for identifying, selecting, and purchasing internal and third-party products for assigned retail locations in adherence with the 5 Rights of Buying: Right Quality, Right Quantity, Right Price, Right Placement, and Right Timing.
- Maintain purchase orders and track information in the designated system, ensuring orders are received in full at designated locations and that Accounting has the necessary information to complete vendor payment within agreed-upon terms.
- Support monthly Open-to-Buy budgets and report performance to company leadership.
Vendor Partnerships & Negotiations
- Create and maintain effective partnerships with new and existing vendors, negotiating terms, pricing, and supply agreements; partner with applicable internal departments to develop and execute specific terms where applicable.
- Collaborate with cross-functional partners on incoming brands, product education, and assortment updates.
- Stay connected to the industry and react with urgency to market trends through frequent communication with field teams and consistent review of market data available through platforms such as Headset and Hoodie.
Pricing Strategy & Margin Ownership
- Collaborate with the Director of Buying and Executive team to develop a pricing strategy that is competitive in the market and achieves targeted margin thresholds.
- Own category gross margin performance with accountability for both gross margin dollars (GM$) and gross margin rate (GM%), ensuring assortment and pricing decisions maximize absolute profit contribution.
Promotional Strategy & Inventory Health
- Partner with Retail and Marketing teams to strategically deploy promotions and markdowns that accelerate aged inventory while protecting brand integrity and profitability.
- Recommend and inform monthly and seasonal promotional calendars, aligning vendor funding, internal brand priorities, and inventory health objectives.
Reporting & Cross-Functional Collaboration
- Work closely with Retail Leaders and Merchandise Planning on sales and inventory reporting to ensure stores maintain adequate supply in key categories and products.
- Collaborate with fellow Buyers, Merchandise Planning, and the Business Strategy team to develop and maintain robust sales reporting and product performance metrics down to the SKU level as needed.
SUPERVISORY RESPONSIBILITIES:
None
JOB REQUIREMENTS:
- Bachelor’s degree in business, Retail Management or related field, 5+ years’ experience or equivalent
- Experience with ERP and/or Inventory Management systems; advanced Microsoft Excel skills required.
- Proven ability to establish strong credibility and build relationships, operate in an environment of ambiguity, and maintain strict confidentiality.
- Working knowledge of the cannabis industry and the latest trends
- Highly analytical, capable of turning raw data into information and insights.
- Strong financial acumen and analytical skills, prior experience developing and managing a budget.
- Excellent organizational skills, ability to develop and implement operational best practices.
- Good judgment in a fast-moving environment with the ability to prioritize and execute multiple tasks with urgency.
- Must possess excellent business judgment, strong written and oral communication skills, and a can-do, common-sense approach to getting things done.
- Regular travel to retail stores, industry events, and production facilities located within the market of responsibility.
- Valid Drivers license required.
- Must be at least 21 years of age and able to pass a background check.
- Must be able to obtain & maintain required state licenses based on work location.