Pricing Strategy Specialist

2 weeks ago

Chesapeake, Virginia, United States Dollar Tree Stores Full time

Pricing Strategy Specialist

Overview:

This role is pivotal in executing and overseeing pricing strategies as directed by the Pricing Director, Pricing Manager, Buyers, and Planners. The individual will analyze the sales and margin implications of various pricing scenarios and present alternative pricing options to the Buyer. This position is accountable for the implementation of base pricing and assisting the Buyer/Planner in achieving margin targets as outlined in the Merchandise Financial Plan (MFP).

Key Responsibilities:

Oversee daily pricing operations within specific merchandise categories for both pre-season and in-season activities. Responsibilities include, but are not limited to:

  • Generating analytical reports and creating detailed spreadsheets.
  • Presenting critical findings to assigned Merchandising teams.
  • Providing data-driven recommendations to Buyers on pricing strategies that enhance sales, profitability, and market share.
  • Managing pricing rules and strategies within the price optimization system by category and zone.
  • Supporting the design of analytical reports for new pricing analyses and conducting ad-hoc analyses as required.
  • Offering expertise on store/SKU elasticity concerning future pricing adjustments.
  • Reviewing system-generated pricing recommendations for accuracy and alignment with category strategies, collaborating with Buyers on final pricing decisions.
  • Evaluating markdown recommendations to ensure alignment with category objectives, maximizing sell-through and revenue on a SKU/Store basis.
  • Updating and analyzing performance metrics related to pricing recommendations and markdowns, identifying opportunities for improvement.
  • Executing impact assessments on sales, units, and margins for Merchants prior to finalizing prices.
  • Collaborating with Pricing Operations to ensure accurate execution of retail changes.
  • Providing market insights and competitive analysis for assigned categories.
  • Auditing pricing sessions to ensure complete accuracy and generating reports to track discrepancies.
  • Researching and resolving pricing issues reported by stores or identified in system-generated reports.
  • Supporting the development and execution of pricing tests to validate category strategies.
  • Engaging in special projects and initiatives related to pricing strategies.
  • Monitoring competitor pricing across all zones for designated Known Value Items (KVIs).
  • Performing other duties as assigned.

Qualifications:

  • Strong analytical and problem-solving abilities.
  • Advanced proficiency in MS Excel and general proficiency in MS Office applications.
  • Experience in generating reports using SQL or programming languages; SAS experience is a plus.
  • Ability to learn specialized software applications and corporate systems; familiarity with retail pricing software is advantageous.
  • Excellent verbal and written communication skills, along with strong interpersonal abilities.
  • Capacity to prioritize and manage multiple tasks while meeting tight deadlines.
  • Ability to work collaboratively across functions and maintain effective relationships with Merchant and Planning teams.
  • Self-motivated with the ability to adapt to changing priorities.

Educational Background:

Degree: Bachelor's degree in Business, Data Analytics, Operations Research, Statistics, Management Information Systems, Business Information Technology, Computer Science, Mathematics, Economics, Finance, or a related field.

Experience: 2-4 years of experience in decision support, with specific experience in retail pricing being advantageous.

Software Skills: Advanced proficiency in MS Excel and general proficiency in MS Office applications (Access, Word, and PowerPoint).

Preferred Experience:

  • Experience in applying qualitative and statistical methods, conducting research projects, and preparing comprehensive reports.
  • Experience working with large datasets, utilizing BI tools, and/or scripting languages.
  • Background in the retail and/or pricing industry.
  • Experience in presenting findings to diverse audiences.

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