Manager, Pricing

Job Description

 

Summary:

The Manager of Pricing is responsible for developing a competitive organizational pricing strategy to drive financial performance across all categories (sales and margin). The Manager of Pricing collaborates with Finance, Merchandise, Marketing and Store Operations to integrate pricing insights and drive pricing decisions that supports company’s overall growth and profitability. This is a highly analytical role that requires pricing manager to consider data from multiple sources and develop complex and dynamic pricing models that incorporates competitive pricing, market and customer data and supports departmental strategic goals.

Key Roles and Responsibilities:

Determine Pricing Strategies & Evaluate Results

  • Uses financial and scenario modeling techniques to prepare analysis that shows the potential impact of various pricing strategies, including their effect on margins, sales and unit volume
  • Develops, tests and tracks performance of new and innovative pricing initiatives to generate competitive advantage
  • Works cross functionally on pricing strategy formulation and pricing decisions to ensure pricing actions that enhance profitability

Develop Pricing Tools & Processes

  • Develops pricing processes to continuously monitor, evaluate and enhance current decision making and to ensure timely response to market conditions and competitive factors
  • Builds dynamic pricing tools and pricing intelligence that can process and incorporate large datasets and number of inputs from external/syndicated and internal data warehouses.

Monitors Pricing Performance & Implements Recommendations

  • Owner of weekly margin reporting including margin decomposition by department, type of sales (promo, non-promo) and up to an item level if necessary. Runs weekly reporting on margin variance vs. plan, forecast and LY identifying risk and opportunities vs. plan.
  • Leads monthly pricing reviews. Prepare and present recommendations to leadership for updates to current pricing and identifying and evaluating opportunities to drive revenue and profit
  • Works closely with pricing team on day-to-day pricing activities across all product categories – including execution of all price changes down to the store level

All Other Activities

  • Supports current and future pricing initiatives such as development of price groups/families across all departments, upgrade of competitive intelligence tool and re-zoning efforts
  • Assists in preparation of strategic merchandise and pricing plans as a part of annual business planning cycle
  • Supports merchandising and marketing teams in ad hoc projects and reporting requests related to category and customer reporting, promotional campaigns, assortment changes/optimization or syndicated data reporting
  • Other ad hoc analysis and reporting as requested by Leadership Team members

Requirements

 

Skills Required:

  • Excellent communication skills – both verbal and written
  • Strong analytical, statistical and database skills
  • Willingness to roll up your sleeves and, as needed, own building of complex models
  • Proficient with Microsoft Excel and able to fulfill the roles and responsibilities of the position using this or Microsoft Access software as a primary tool
  • Ability to establish and improve processes and wire through the organization
  • Must thrive in less structured and rapid-paced business environment
  • SQL skills required

Education & Experience:

  • BA/BS in Business, Economics, Statistics, Math or related field required. MBA degree a plus
  • 5 years of pricing experience
  • Experience in reviewing and analyzing retail data (Nielsen, IRI, etc.)
  • Retail industry and project management experience is strongly preferred