Job description
General Summary:
This position is responsible for executing and managing the pricing strategies aligned to by the Director of Pricing, Buyers and Planners. This individual will be responsible for modeling the sales and margin impacts associated with various pricing scenarios and then presenting pricing alternatives to the Buyer. The position is accountable for pricing integrity (price accuracy) for base pricing and assisting the Buyer/Planner meet margin expectations as budgeted in the Merchandise Financial Plan (MFP).
Principal Duties & Responsibilities:
Position Requirements
Minimum Requirements:
Education: Four-year college degree or equivalent experience; Finance, and/or Mathematics background a strong plus
Experience: 2-4 years of applicable marketing experience; specific experience in pricing a plus
Software: High proficiency with Microsoft Office (Access, Excel, Word, and PowerPoint)
This position is responsible for executing and managing the pricing strategies aligned to by the Director of Pricing, Buyers and Planners. This individual will be responsible for modeling the sales and margin impacts associated with various pricing scenarios and then presenting pricing alternatives to the Buyer. The position is accountable for pricing integrity (price accuracy) for base pricing and assisting the Buyer/Planner meet margin expectations as budgeted in the Merchandise Financial Plan (MFP).
Principal Duties & Responsibilities:
- Manage the day-to-day pricing activities within a set of merchandise categories for both pre-season planning and in-season execution. This includes, but is not limited to: generating reports, creating spreadsheets, presenting key findings to assigned Merchandising teams
- Provide fact-based guidance to the Buyers in selecting pricing strategies/rules that result in increased sales, profit, and/or market share. Manage rules and strategies (by category/by zone) within the price optimization system
- Provide guidance and expertise on store/SKU elasticity as it relates to future price changes
- Review system-generated pricing recommendations (base price) for accuracy and alignment to the category strategy—review results with buyer and collaborate on final prices
- Execute “what if” scenarios before finalizing and submitting prices to Retek
- Provide market and industry insights to competitive indexing and trends for assigned categories
- Audit all pricing sessions to ensure 100% accuracy—create reports to track pricing errors
- Research and resolve pricing issues as reported by stores and/or system-generated reports
- Manage the pricing calendar to balance workload in the stores and improve price execution
- Support the development and implementation of price tests to validate category strategies
- Work on special projects, ad hoc analysis, and initiatives related to pricing strategies
- Monitor and provide competitor prices across all price zones for designated Known Value Items (KVIs)
- Other duties as assigned
Position Requirements
- Very strong analytical and problem solving skills
- Proficiency with retail pricing software packages a plus
- Proficient verbal and written communication skills
- Ability to prioritize and manage multiple assignments and meet tight deadlines
- Ability to work cross-functionally and maintain effective relationships with Merchant and Planning teams
- Ability to work independently and adapt to changing work priorities
Minimum Requirements:
Education: Four-year college degree or equivalent experience; Finance, and/or Mathematics background a strong plus
Experience: 2-4 years of applicable marketing experience; specific experience in pricing a plus
Software: High proficiency with Microsoft Office (Access, Excel, Word, and PowerPoint)
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