Pricing Analyst

Summary

As a member of the strategic pricing team, the pricing analyst responsibilities are to establish, maintain and analyze price reference information, and to make recommendations that will facilitate optimal pricing decisions to be made by Pricing & Category Management teams. The pricing analyst will manage the day-to-day pricing activities across multiple categories; analyze and execute strategies that support the business goals.

Essential Functions

The core functions of this position include, but are not limited to, the following:

• Analyzes competition, product position and profitability, and makes recommendations for pricing changes based on analysis
• Executes “what if” scenarios before finalizing and submitting prices for review
• Develops and manages pricing strategies that will be used in automated pricing system. Must be able to provide business strategies to management team
• Review system-generated pricing recommendations for accuracy and alignment to the category pricing strategy, as well as reviews results with key stakeholders
• Tracks and analyzes results of price adjustments and works on adjusting pricing strategies related to market dynamic changes, pricing trends, and market opportunities
• Provides fact-based guidance to key stakeholders in selecting pricing strategies/rules that result in increased sales, profit, and/or market share
• Provides regular and ad hoc pricing analysis and reporting for procurement staff
• Organizes baseline price information, analyzes and reports on inconsistencies, and identifies opportunities to optimize sales and profitability through price strategies
• Provides analytical support associated with various projects and management requests. Supports the development and implementation of price tests to validate pricing strategies
• Researches and resolves pricing issues as reported by stores and/or system-generated reports
• Monitors competitor prices across all price zones for designated Key Value Items (KVIs) and advises procurement staff when changes to the market occur
• Evaluates retail prices across industry channels to maintain competitive market position while maximizing profitability
• Models categories for the price system

Knowledge and Skill Requirements:

• B.S. in Accounting/Finance, Business, Economics, Mathematics or equivalent
• Strong analytical, quantitative, and qualitative analysis skills required
• Exceptional collaboration, communication, and interpersonal skills
• Exceptional analytical, organizational, and mathematical skills, as well as above average attention to detail and accuracy
• Strong statistical aptitude including understanding components of financial analysis and the ability to work accurately with numbers
• Must possess strong technical skills with ability to learn new software systems
• Must have a strong understanding on the relationship between Retail Pricing, Item Costing, Warehouse Markup, Gross Profit Rate, and Gross Profit Dollars
• Understand the economics behind price elasticity, multiples, and endings
• Must possess a thorough understanding of competitive pricing
• Demonstrated ability to independently develop new Excel models, charts and graphs as necessary
• Ad-hoc analysis on methods to optimize price through market and pricing strategies
• Evaluate all special pricing programs based on category manager input, including temporary price reductions
• Excellent Excel skills, as well as proficiency in Word, Outlook and PowerPoint
• Ability to rapidly learn new software systems and generate and analyze reports
• Must be organized, detail oriented, and able to multi-task
• Strong written and oral communication and negotiation skills
• Ability to effectively gather and manage information from a variety of internal and external sources
• Ability to be flexible and react quickly to change

Physical Demands and Work Environment:

Ability to work effectively in an office environment

Ability to work a four day in office hybrid schedule as established by the organization