Retail Buyer salary in Iceland

Average Yearly Salary of Retail Buyer in Iceland is approximately 10,452,841 ISK (73,209 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Retail Buyer do?

A retail buyer is responsible for selecting and purchasing merchandise for a retail store or chain. They analyze market trends, consumer demands, and sales data to make informed decisions on what products to stock and how much inventory to purchase. Retail buyers negotiate with suppliers to secure favorable pricing and terms, ensuring that the store remains competitive in the market. They also monitor inventory levels, track sales performance, and adjust buying strategies accordingly. Retail buyers need to have strong analytical skills, as well as a keen eye for fashion and trends. They must possess excellent negotiation and communication skills to build relationships with suppliers and vendors. Additionally, retail buyers must stay up to date with industry trends and developments to make strategic buying decisions.

Skills: Retail buyer, Purchasing, Inventory management, Market analysis, Supplier negotiation, Trend forecasting
Job industry: Retail

How much does Retail Buyer make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Retail Buyer a well paid job?

Yes, our data show that Retail Buyer is an averagely well paid job that still allows for some yearly savings. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Retail Buyer?

High salary for Retail Buyer would be somewhere between 11,498,125 ISK and 15,156,619 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Retail Buyer in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 10,452,841 ISK
Estimated Monthly Salary: 871,070 ISK
Estimated Weekly Salary: 201,016 ISK per week
Estimated Hourly Salary: 5,025 ISK per hour
By working as Retail Buyer a person can save up to 3,372 USD per month or 40,463 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Retail Buyer

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

Top 10 highest salaries in Iceland

Data as of 2025

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