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Pricing Manager
11 minutes ago
Role Summary:
The role holder will provide decision support to drive and maximize profitability through margin and pricing reviews for the region. The role will also be responsible for tracking and evaluating product margins for each season, ensuring product mix and pricing is optimized to maximize profitability. Key priority will also be to plan, analyze and align in territory pricing while considering currency fluctuations, price elasticity, consumer segments & brand positioning.
Responsibilities:
Lead and direct pricing strategy formulation across various Nike Gender, Segment & Dimension constructing focusing on all product lines with the objective of positioning products based on value and competitive marketplace trends.
Execute seasonal margin reviews alongside the Consumer & Marketplace team to ensure optimized pricing and maximized profitability across the seasonal product offer.
Ensure seasonal product positioning & price laddering reflected in product architecture is translated per country along with periodic reviews to rationalize prices based on sell through, store feedback, inventory holding etc.
Identify margin opportunities and drive pricing decisions with Marketplace leadership teams based on consumer preferences, profitability, competition and macro indicators.
Lead cross-functional alignment between buying, merchandising, wholesale, planning, and supply chain to meet the performance KPIs (e.g. GMROI, ITR, Profit, FPST, SOH, Markdown etc.).
Inform Central Planning on product lifecycle, allocation and brand strategy to drive efficiencies in seasonal / territory markdown planning.
Monitor the full price realization and adherence to our products' RRP across different retailers within our key markets (using dedicated tools for web scrapping).
Review and report non-adherence to recommended pricing parameters on Core and 365 Product franchises across the One Nike Marketplace (ONM).
Lead annual, in-territory consumer studies across dimensions and product types to quantify the value drivers, find price elasticity and optimize the range architecture to value-based pricing.
Align on pricing between internal GMG channels along with NDDC to ensure a seamless Omnichannel consumer experience
Review pricing parameters and benchmark vs. key competitors across the marketplace across gender, segment and dimensions.
Align closely with Nike EHQ value-based pricing approach for in territory pricing and product positioning.
Track the implementation of the pricing decisions and validate & report results
Comprehensive understanding of retail math, along with experience in Gross Margin Profitability Planning, and understanding of customers, competition, and retail trends.
Comprehensive understanding of statistical tools like multi-variate, conjoint, correlation & regression analysis, along with Nike Value Based pricing research techniques like Gabor-Granger analyses.
Required Skills:
Bachelor's degree in business management
Master's degree in Business Management
Exposure to Merchandising Financial Planning and Statistical techniques.
Knowledge of Power BI, SQL, Power Query, Data Visualization etc.
Working experience in SAP environment / Ability to use SAP for generating and analysing reports
Experience:
A minimum of 5+ years of relevant experience with at least 2 years of functional experience in pricing strategy, profit optimization, data analytics with other footwear/apparel wholesale organizations.
