Provide pricing analyses and implement recommended strategies to best optimize sales and contribution impact. Review and analyze merchandise pricing impact on the P & L and compared to key competitors. Contribute to the conception and development of new solutions related to pricing. Work closely with Merchandising, Marketing, and Inventory to accomplish goals. Prepares, forecasts, and analyzes actual results versus benchmarks.
Prepare analyses to identify pricing opportunities and suggest appropriate changes to pricing strategies
Make recommendations for changes based on competitive factors and vendor cost changes
Maintain and improve methods of tracking competitor pricing on key products. Evaluate competitors and marketplace dynamics to assess the impact on the business and make pricing strategy recommendations
Assist in the development of analytics and reporting for pricing recommendations
Make pricing recommendations on products through their entire lifecycle. Execute changes for base and promotional prices, as well as execute seasonal and end-of-life markdowns
Assist in the development of standardized price rule guidelines
Provide ad hoc pricing analysis
Assist in the execution of various pricing tests from a merchandise and customer perspective and provide recommendations
Work with demand planning to determine potential impact of pricing changes from a revenue and unit perspective
Abide by all policies and procedures of Oriental Trading Company.
Maintain regular, predictable attendance
Must be able to attend face to face meetings on short or little advance notice
Work requires in-person collaboration among colleagues and contractors
Work closely with internal customers to meet their information and pricing recommendation needs.
Ensure Demand Planning and other departments within the company are kept informed of decisions affecting them.
All data produced must be error free due to the importance of decisions made with the data provided.
Will require the development of the appropriate systems and processes to perform the above analysis.
Perform other related duties and projects as assigned.
Knowledge, Skills, and Abilities
Proficient in a wide range of analytical, quantitative and statistical techniques and tools to derive insights from large, complex data environments.
Intermediate to advance knowledge of Excel is required, including use of lookups and pivot tables.
SQL or programming language preferred.
Knowledge of Access
Able to learn AS400 query tools, Business Objects reporting and pricing related software.
Team experience: has participated in projects/initiatives involving cross-functional teams.
Strong written and verbal communication skills.
Accurate, analytical and detail oriented.
Able to work under pressure with a large degree of independence.
Able to anticipate and take action as needed to prevent problems and help the Company grow.
Excellent written and verbal communication skills and independent problem solving skills
Bachelor's degree in Finance, Business, Statistics, Mathematics, Analytics, Engineering or related field
Two years experience in retail, pricing and/or analysis role or a Graduate degree in a related field
Proficiency of analytical techniques and tools to derive insights and recommendations from data
Minimum one year experience with data manipulation and analysis
Previous experience in execution of pricing strategies and price optimization software is desirable
Background in the catalog industry preferred
Oriental Trading Company is the nation's largest direct retailer of value-priced party supplies, arts and crafts, school supplies, toys and novelties. Recognized as one of the Top 20 Internet Retailers based on customer satisfaction, Oriental Trading offers over 40,000 products to consumers, educators, businesses and non-profit organizations. Oriental Trading employs approximately 1,600 employees and makes the world more fun with items ranging from pink flamingos and wedding favors to holiday decorations, educational games and crafts. In 2013, Oriental Trading acquired MindWare, an award-winning creator and manufacturer of educational toys and in 2014, acquired SmileMakers, the leader in patient giveaways and practice promotion products. Oriental Trading is a Berkshire Hathaway company.