Forecasting
According to Peter Vogt, buyers predict months and in some cases years in advance what accessories and apparel will sell and at what prices. The buyers need to stay current with the fashion industry. Depending upon the item and season, buyers will purchase merchandise 6 months before it sold in stores. Therefore they must be able to anticipate fashion trends and consumer needs. In order for buyers to anticipate future trends, they familiarize themselves with current merchandise in catalogs and line sheets and travel to seasonal fashion weeks and shows to view new styles. Companies such as Zara have drastically shortened the buying and production time lines. It is also necessary for a buyer to know his/her customers. They can achieve this by viewing sales records and by spending time on the selling floors.
Read more about this topic: Buyer (fashion)