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OVERVIEW:

The Senior Pricing strategist plays a key role in the day to day function of the Pricing Department, and is responsible for executing and managing the pricing strategies aligned to by the Director of Pricing and the respective Customer Business Unit (“CBU”) management primarily in Merchandising, Planning, Store Operations and eCommerce.  The Senior Pricing strategist serves as an internal consultant to Merchandising and Planning on the strategy and tactics of pricing, promotions and markdowns from pre-season through liquidation.  The strategist will utilize analytical and quantitative tools and methods, such as statistical modeling and forecasting, to guide decision making in matters of pricing.  They will also incorporate competitive analysis and consumer purchase behavior insights into their pricing behavior.  To be successful, they need to lead by influence and exercise thought leadership.  The position is accountable for pricing integrity (price accuracy) for base pricing and assisting the Buyer/Planner meet sales and margin expectations. 

Job Duties & Responsibilities

% of Time

Pricing Execution & Strategy

• Manage the analytics around pricing activities for permanent price changes, promotion events and clearance within a set of merchandise categories for both pre-season planning and in-season execution.
  • This includes, but is not limited to: researching, utilizing optimization tools, generating reports, creating spreadsheets, presenting key findings to assigned Merchandising teams.
• Provide fact-based guidance to the Buyers, Planners, DMM’s and Directors 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
• Analyze, forecast, interpret and execute “what if” scenarios before finalizing and submitting prices to PMMS
• Measure the impact of a variety of merchandise or marketing initiatives, summarize results and advise on strategies
• Develop deep understanding of category financial levers including sales, markdowns, promotions, funding, and profitability as input to pricing strategy
• Develop pricing strategies for new stores or new products
• Track key business metrics (e.g. sales, share, value perception, margin, customer attributes, etc.) to continually evaluate and refine pricing strategies
• Aide in adherence to the Reference Pricing Policy

40%

Pricing Audits

• Execute or assist and review other members of the pricing team in auditing all pricing events to ensure 100% accuracy—create reports to track pricing errors; work with buyers to identify resolutions as applicable
• Execute or assist and review other members of the pricing team in researching and resolving pricing issues, by working with buyers and planners or DMM's, as reported by stores and/or system-generated reports

20%

Market Research, Analytics & Testing

• Provide market and industry insights to competitive indexing and trends for assigned categories
  • Monitor competitor prices across all price zones for designated Key Value Items (KVIs) and execute the competitive shop process quarterly for their CBUo Monitor competitor prices across all price zones for designated Key Value Items (KVIs) and execute the competitive shop process quarterly for their CBU
• Test pricing hypotheses, measure results, and develop strategy insights and implications.  Summarize and present results to Directors, DMM's and CBU management.

20%

Cross Functional Partnership

• Act as the liaison between Pricing (Merchandise Services & Analytics) and other lines of business in tactical or special project situations related to their lines of business; identify areas of disconnect in goals and work toward resolution

10%

Supervise and Talent Development

• Train and mentor new hires into Pricing Analyst/Strategist roles by sharing experience, knowledge and best practices.
• Supervise and provide guidance to Pricing Analyst/Strategist on projects and deliverables, holding teammate accountable to deadlines.  This includes organizing and monitoring workload to ensure priority deliverables are fast tracked.
• Establish best practices across the larger team to drive productivity and efficiencies.
• Manage execution responsibilities and workload of direct/indirect reports to achieve department deliverables on time and with quality.  Provide direct reports with timely and regular feedback to support teammate development/ growth in role.
• Share timely and actionable feedback with teammates on deliverables to ensure accountability, coach and mentor as needed.

10%

QUALIFICATIONS: