Develops and modifies comprehensive retail pricing strategies of low to moderate complexity based on volume, product lines, competition, or category penetration for assigned categories under management guidance by determining known value items (KVI) to be included in strategy; benchmarking comparable items sold by competition; comparing current gap versus key competitors; determining perceptible gap; utilizing Walmart pricing systems to develop, improve, or modify strategy to maximize profit margin; ensuring strategies meet category and company objectives; and recommending promotion pricing strategies.
Analyzes the performance of the current pricing strategy with management guidance by reviewing current information on sales, profits, margins, in-stock, mark-up, and mark-down; navigating information systems (for example, Merchandise Value Planner (MVP), Retail Link); and maintaining up-to-date statistics against defined performance metrics.
Gathers information essential to developing a competitive pricing strategy by determining category relevance, goals, and role to the company; determining pricing differences between Walmart and competition; conducting retail price surveys; reviewing third-party retail price survey information; and meeting with category portfolio team to discuss current competitive landscape, future cost changes, promotions, new items, and modular updates.
Develops Pricing Coordinators and Assistant Pricing Specialists by providing training on pricing strategy processes and tools.
Benchmarks competitor margins against company margins to ensure fair supplier pricing by evaluating trade fund allocation and cost components; obtaining cost increase justifications; and conducting market track (Adview) analysis to determine on sale/off sale mix of competitors.
Communicates pricing information and strategies by presenting information to Category Team or Category Team Leaders to persuade and influence others towards recommended pricing strategies; serving as a spokesperson on Walmart's competitive price gap and strategy performance on items in assigned categories; and providing clear performance measures of executed strategy to multiple levels of management.
Minimum Qualifications...Outlined below are the required minimum qualifications for this position. If none are listed, there are no minimum qualifications.
Minimum Qualifications: Bachelor’s degree in Economics, Accounting, Finance, Business, Merchandising, Retail Management, Marketing, or related field and 2 years experience in merchandising, retail pricing, sourcing, operations management, finance, marketing, or related field OR 4 years experience in merchandising, retail pricing, sourcing, operations management, finance, marketing, or related field.
Preferred Qualifications...Outlined below are the optional preferred qualifications for this position. If none are listed, there are no preferred qualifications.
Financial Strategy, Marketing, Merchandising, Microsoft Office, Retail Software Programs
Masters: Accounting, Masters: Business, Masters: Economics, Masters: Finance, Masters: Marketing, Masters: Merchandising, Masters: Retail Management