Your ImpactDivisional Pricing Strategy: The Pricing Manager will develop pricing strategies, recommendations, and guardrails for all product categories in their merchandising division using technical tools and methodologies such as elasticity and demand curve modeling to determine optimal price points, test & control methodologies to identify the most effective pricing strategies, rules-based pricing to drive automation and consistency, cluster analysis to identify trends across similar products and geographies, and financial impact analysis to evaluate pricing recommendations and decisions. The Pricing Manager will work to support financial and business target achievement for their area, while also positioning themselves as a true partner and subject matter expert within the Merchandising organization.
Strategic Initiatives: The Pricing Manager will provide insights to drive forward strategic priorities for Lowe's, collaborating with Merchandising leadership and Merchants to develop and implement pricing strategies for clustering, localization, Pro/contractor-focused pricing, online pricing, and clearance pricing. This role is charged with understanding customers' values and determining optimal approaches for meeting their needs in addition to developing an intuitive understanding of key Merchandising strategy pillars.
Leadership & Development: As a leader, the Pricing Manager will be responsible for recruiting, training, retaining, and developing high-performing talent at Lowe's, in addition to improving the broader team and development across the organization. The Pricing Manager will embody Lowe's Core Values and provide timely feedback and coaching to reporting individuals for growth and development.
What You Will Do- Building and maintaining strong relationships with senior Merchandising leaders and merchants and gaining in-depth knowledge of each business through assortment reviews, store walks, and consistent day-to-day communication with business partners
- Conducting rigorous financial analysis to support specific businesses and categories, synthesizing multiple disparate data sources to drive recommendations, and working cross-functionally to implement pricing strategies across all channels
- Developing and implementing integrated omni-channel strategies, with a focus on Lowe's brick and mortar locations and digital properties
- Monitoring and responding to competitive movements to ensure consistency with broader pricing strategies and guardrails
- Developing and utilizing new tools and capabilities to deliver recommendations across the full product life cycle to business partners
- Creating and presenting clear and concise communications, often to senior leadership, that convey complex ideas in a simple, structured, and cohesive manner appropriate to the audience in order to influence an outcome or decision
- Ensuring that pricing strategies are developed, implemented, measured, and monitored effectively and communicating relevant progress and information to senior leadership
- Collaborating with other Pricing and Assortment Planning teams to create synergies between teams, share a cohesive vision, and foster an environment of communication and collaboration
- Streamlining workflows and processes within the team to increase efficiency
- Leading a high-performance team, including recruiting, hiring, developing, and performance management of team members
- Providing timely, effective, and actionable feedback and coaching to team members to support their growth and development and enable them to perform their role effectively
Minimum Qualifications- Bachelor's degree Bachelor’s Degree in Business Administration, Finance, Statistics, or related field or equivalent years of experience in lieu of education requirement, if applicable
- 5 Years Experience in Pricing, Data Analytics, Finance, Omni-channel Retailing, or related pricing and promotion field. Experience working in cross-functional teams, data elements or financial metrics analyzes
- 5 Years Experience in Price Management, Merchandising, Financial Planning and Analysis, Store Operations, or Logistics. Experience as a Lead Merchant and/or Pricing Lead in an omni-channel retail environment. Experience working in cross-functional teams, leadership with direct report responsibility, data elements or financial metrics analyzes
- At least 2 years of experience working closely with senior leadership (VP and above)
Preferred Skills/Education- Experience in the Home Improvement industry
- Experience analyzing competitive data
