Job Description
Reports To:
Senior Manager Supply Chain Primary Purpose: The Pricing and Promotion Analyst supports strategy and decision making regarding pricing, discount rates and promotions for Tusker Mattresses Limited.
The role will partner with purchasing and operations departments to ensure clear understanding of the impact of pricing decisions on both sales and margin, and to generate recommendations to maximize both metrics within agreed discount rates. This role is also responsible for the execution of pricing decisions, partnering with finance, retail operations and stores to ensure seamless implementation.
Key Responsibilities
Partner with the supply chain team to develop pricing and promotion strategies to drive key KPI of sales, inventory, discount rate and margin to meet or exceed company objectives.
Regular meetings with Marketing and operations to ensure centre events are supported with appropriate promotion, communicated and signed off and executed in a timely and accurate manner to ensure inclusion in relevant centres Marketing.
Action weekly system price changes for all product areas by partnering with relevant supply chain officers and owning weekly approval process. Ensure upcoming weekly price changes and promotions are presented weekly with supporting data to validate.
Ensure price and promotions are clearly communicated to the stores through the weekly transmittal process, in partnership with supply chain, the Retail Operations team, and producing exclusion lists.
Own the analysis of price and promotional decision making and present recommendations to the supply chain leadership team.
Key metrics include discount rate, gross margin, traffic, AUR. In close partnership with supply chain management come up with weekly / monthly competitive price updates to inform on relevant upcoming promotions.
Drive / co-ordinate and communicate pricing strategy for the clearance period, taking into consideration market restrictions within agreed timeframes. Share with operations upcoming key promotions on a weekly / monthly and quarterly view to ensure in store signage exists to support promotions.
Partner with supply chain to propose price changes in order to drive inventory efficiency in Outlet stores i.e. newness to clearance in line with monthly floor set. Assist in the “smart pricing” of key items and analysis of margin implications vs sales growth.
Maintain accurate pricing master files for Outlet and action all system changes to activate price changes and promotions in a timely and accurate manner. Partner with finance to ensure all pricing is accurate in our systems.
Monthly meetings with Finance to ensure low rate of manual overrides Maintain tracking logs and approvals for auditing purposes – accountable for weekly price approvals and actioning within agreed timeframe
Liaise with the merchandising team to ensure price labelling is executed effectively.
Own and maintain promotional calendar – communicating in partnership with Buying and Marketing to Retail store teams weekly / monthly and quarterly.
Qualifications
Minimum 3-5 years’ experience in a merchandising/planning, financial analysis, or pricing analyst role in a Retail environment in either a full price or Outlet environment with understanding of trading laws relating to price.
Strong Excel skills with demonstrated proficiency in building reports and analytical tools.
Ability to think logically, problem solve and provide recommendations through analysis.
Demonstrated experience generating ideas and providing solutions to current processes.
Demonstrate proficiency in retail math. Ability to work in a fast paced, retail environment.
Strong communication skills with ability to interact with employees at all levels.
Ability to work autonomously and collaboratively with cross-functional teams.
