Career and Education Opportunities for Wholesale Buyers in Minneapolis, Minnesota
Wholesale buyer career and educational opportunities abound in Minneapolis, Minnesota. The national trend for wholesale buyers sees this job pool shrinking by about 2.2% over the next eight years. In general, wholesale buyers buy merchandise or commodities, other than farm products, for resale to consumers at the wholesale or retail level, including both durable and nondurable goods.
Income for wholesale buyers is about $25 hourly or $53,460 per year on average in Minnesota. Nationally, their income is about $23 hourly or $48,710 per year. Incomes for wholesale buyers are not quite as good as in the overall category of Representation in Minnesota, and not quite as good as the overall Representation category nationally. Jobs in this field include: merchandise buyer, merchandise worker, and purchasing coordinator.
The Minneapolis area is home to eighty schools of higher education, including five within twenty-five miles of Minneapolis where you can get a degree as a wholesale buyer. The most common level of education for wholesale buyers is some college courses. You can expect to spend a short time training to become a wholesale buyer if you already have a high school diploma.
CAREER DESCRIPTION: Wholesale Buyer
In general, wholesale buyers buy merchandise or commodities, other than farm products, for resale to consumers at the wholesale or retail level, including both durable and nondurable goods. They also analyze past buying trends, sales records, and quality of merchandise to determine value and yield.
Wholesale buyers examine orders, and purchase products consistent with quality, quantity, specification requirements, and other factors. They also set or recommend mark-up rates, mark-down rates, and selling prices for products. Equally important, wholesale buyers have to interview and work closely with vendors to obtain and design desired products. They are often called upon to negotiate prices, discount terms, and transportation arrangements for products. Finally, wholesale buyers talk with sales and purchasing personnel to obtain data related to customer needs and preferences.
Every day, wholesale buyers are expected to be able to articulate ideas and problems. They need to think through problems and come up with general rules. It is also important that they listen to and understand others in meetings.
It is important for wholesale buyers to analyze and monitor sales records, trends and economic conditions to anticipate consumer buying patterns and decide on what the company will sell and how much inventory is needed. They are often called upon to use computers to organize and locate inventory, and operate spreadsheet and word processing software. They also conduct staff meetings with sales personnel to introduce new products. They are sometimes expected to inspect products or products to establish value or yield. Somewhat less frequently, wholesale buyers are also expected to authorize payment of invoices or return of products.
Wholesale buyers sometimes are asked to train and supervise sales and clerical staff. and furnish clerks with data to print on price tags, such as price, mark-ups or mark-downs and style number. And finally, they sometimes have to examine orders, and purchase products consistent with quality, quantity, specification requirements, and other factors.
Like many other jobs, wholesale buyers must have exceptional integrity and be able to deal with stress and deal with situations calmly.
Similar jobs with educational opportunities in Minneapolis include:
- Agent. Represent and promote artists, performers, and athletes to prospective employers. May handle contract negotiation and other business matters for clients.
EDUCATIONAL OPPORTUNITIES: Wholesale Buyer Training
Minneapolis Community and Technical College - Minneapolis, MN
Minneapolis Community and Technical College, 1501 Hennepin Ave, Minneapolis, MN 55403-1779. Minneapolis Community and Technical College is a medium sized college located in Minneapolis, Minnesota. It is a public school with primarily 2-year programs and has 9,539 students. Minneapolis Community and Technical College has an associate's degree program in Apparel and Textile Marketing Management which graduated one student in 2008.
University of Minnesota-Twin Cities - Minneapolis, MN
University of Minnesota-Twin Cities, 100 Church Street SE, Minneapolis, MN 55455-0213. University of Minnesota-Twin Cities is a large university located in Minneapolis, Minnesota. It is a public school with primarily 4-year or above programs. It has 51,140 students and an admission rate of 53%. University of Minnesota-Twin Cities has 2 areas of study related to Wholesale Buyer. They are:
- Sales, Distribution, and Marketing Operations, bachelor's degree which graduated 43 students in 2008.
- Fashion Merchandising, bachelor's degree which graduated 1 student in 2008.
Inver Hills Community College - Inver Grove Heights, MN
Inver Hills Community College, 2500 80th St E, Inver Grove Heights, MN 55076-3224. Inver Hills Community College is a medium sized college located in Inver Grove Heights, Minnesota. It is a public school with primarily 2-year programs and has 5,608 students. Inver Hills Community College has a less than one year program in Sales, Distribution, and Marketing Operations which graduated four students in 2008.
Metropolitan State University - Saint Paul, MN
Metropolitan State University, 700 E Seventh St, Saint Paul, MN 55106-5000. Metropolitan State University is a medium sized university located in Saint Paul, Minnesota. It is a public school with primarily 4-year or above programs. It has 6,909 students and an admission rate of 53%. Metropolitan State University has a bachelor's degree program in Sales, Distribution, and Marketing Operations which graduated one student in 2008.
The Art Institutes International Minnesota - Minneapolis, MN
The Art Institutes International Minnesota, 15 S 9th Street, Minneapolis, MN 55402. The Art Institutes International Minnesota is a small school located in Minneapolis, Minnesota. It is a private for-profit school with primarily 4-year or above programs. It has 1,840 students and an admission rate of 51%. The Art Institutes International Minnesota has a bachelor's degree program in Fashion Merchandising.
LOCATION INFORMATION: Minneapolis, Minnesota
Minneapolis is situated in Hennepin County, Minnesota. It has a population of over 382,605. The cost of living index in Minneapolis, 101, is near the national average. New single-family homes in Minneapolis are priced at $451,300 on average, which is far greater than the state average. In 2008, forty-five new homes were constructed in Minneapolis, down from one hundred fifteen the previous year.
The top three industries for women in Minneapolis are health care, educational services, and accommodation and food services. For men, it is educational services, professional, scientific, and technical services, and accommodation and food services. The average commute to work is about 22 minutes. More than 37.4% of Minneapolis residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 13.1%, is higher than the state average.
The unemployment rate in Minneapolis is 7.0%, which is the same as Minnesota's average of 7.0%.
The percentage of Minneapolis residents that are affiliated with a religious congregation, 57.7%, is more than the national average but less than the state average. The largest religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the United Methodist Church.
Minneapolis is home to the Saint Josephs Orphanage and the Hiawatha Municipal Golf Course as well as Beards Plaisance and Mississippi Park. Visitors to Minneapolis can choose from COE Mansion Carriage House, Radisson Hotel Metrodome and Best Western Kelly Inn for temporary stays in the area.