Director, Pricing Strategy Apparel

Director, Pricing Strategy

Job Overview

The role of Director of Pricing is a pivotal leadership position, responsible for steering pricing strategies and priorities across multiple businesses, encompassing both stores and online commerce. This position directly reports to the Senior Director of Pricing, and the Director will collaborate closely with Divisional Merchandise Managers (DMMs), Marketing, Financial Planning, Technology, and Stores to align comprehensive pricing strategies. The primary focus is to provide insights that lead pricing strategies, capitalize on business opportunities, and foster profitability growth. Building trust and influencing the merchants to drive strategic initiatives is a fundamental requirement in this role. 

What You Will Do:

• Utilize data analytics to derive actionable insights that drive strategic pricing decisions.

• Collaborate cross-functionally with merchandising, stores, site merchandising, marketing, and technology teams to provide clear pricing direction. This includes customer-facing messages, considerations for price points versus percentage-off handles, and coupon inclusions/exclusions.

• Take ownership of event architecture, ensuring clarity in pricing, breadth, depth, and special penetrations.

• Partner with financial planning teams both pre-season and in-season to address discount rates and permanent markdown needs.

• Collaborate closely with merchant teams to formulate competitive pricing strategies, conducting both current and future positioning analyses.

• Act as the voice of pricing/merchandising in Personalized Offers (PZO) and loyalty category discussions.

• Demonstrate understanding of execution through regular floor walks and partnerships with stores.

• Validate actual results against prior projections to assess the effectiveness of current pricing strategies and recommend refinements when needed.

• Participate actively in seasonal business strategy meetings with General Merchandise Managers (GMMs), providing valuable insights to identify high-level opportunities.

• Work towards streamlining and improving coupon templates across events ensuring customer clarity and efficiency in promotional activities.

• Collaborate with data science to provide insights on the dynamic pricing algorithm, contributing to continuous improvement and holding merchant teams accountable for increasing acceptance rates.

• Share insights on process improvements, ensuring a seamless and effective workflow for both current and future operations.

• Track seasonal selling through C-1s, offering input on pricing strategies to ensure profitable product life cycles.

• Review business performance by channel and bucket, focusing on highlights and identifying growth opportunities.

• Develop a comprehensive strategy for products where matching prices profitably is challenging.

• Collaborate with store operations and merchants to provide forecasts of markdowns, supporting operational needs.

• Manage and develop Pricing Managers, fostering a culture of job satisfaction and providing opportunities for professional development and advancement.

• Ensure the team's accountability for accuracy, thoroughness, thought process, timeliness, and viability of recommendations.

• Demonstrate regular, dependable attendance and punctuality in fulfilling job responsibilities.

 

Skills You Will Need:

Financial Business Acumen: Ability to understand and analyze financial aspects to make informed strategic decisions.

Retail Strategy and Tactics: In-depth knowledge of market trends, customer behaviors, and competitive landscapes.

Leadership: Capability to lead through influence, fostering collaboration and building trust with a focus on achieving results.

Change Management: Comfort and effectiveness in leading teams through change ensuring successful adaptation.

Communication Skills: Effective communication with candor, valuing open debate to bring the best ideas to life.

Visionary Thinking: Ability to be a forward thinking and innovative leader with a vision to drive transformative strategies propelling family of business to new heights. 

Growth Mindset: A growth-oriented mindset, coupled with the ability to coach teams in embracing growth opportunities.

Collaboration and Coordination: