Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 18 million customers a week in the United States, Canada and Mexico. With fiscal year 2017 sales of $68.6 billion, Lowe’s and its related businesses operate or service more than 2,390 home improvement and hardware stores and employ over 310,000 people. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.
The primary purpose of this role is to support advanced pricing strategies for merchandising product divisions, scenario modeling and life-cycle pricing insights and recommendations. This includes responsibility for routine monitoring and reporting, weekly tracking, gathering data and providing Merchants with recommendations to improve customer price perception while ensuring that targeted financial results are achieved. This role ensures that Lowe’s remains competitive in its pricing and applies industry best practices to its pricing processes.
• Works directly with merchandising to update product pricing relationships that drive modeled price elasticities and gains alignment on competitive comparable items in support of rules based pricing and optimization efforts.
• Provides on-going competitor insights that impact strategy and category profitability.
• Drives process improvements into the inputs and strategy presentations provided to the merchant teams in the Product Line Review process.
• Visits Lowe’s and competitor’s stores to review current category pricing strategies, brand relationships and gaps, competitive pricing strategies and promotional activity.
• Monitors sales, margin and other key financial and customer metrics and reports out on the financial performance of category pricing strategies.
• Provides input into enhancements for software application and system upgrades that align with Lowe’s pricing and strategies.
• Supports a collaborative environment by working in a team of peers to solve problems and shares information with peers, manager and customers as appropriate.
• Utilizes advanced pricing tools to develop, model and implement pricing strategies and recommendations for their assigned area of responsibility.
• Works closely with pricing strategy team to ensure category pricing strategies are aligned with the Lowe’s enterprise pricing strategy and creates a continuous feedback loop to ensure enterprise and category strategies are continuously aligned and optimized.
Education and experience:
• Bachelor’s Degree in Business, Finance or related field and 2+ years experience in data analytics OR 6+ years combined experience in pricing, merchandising, finance or related field in lieu of degree and experience requirements above.
• 3+ years experience using Excel and/or Access to translate business objectives/goals into actionable pricing recommendations or financial insights.
• 2+ years experience using pricing and promotional analytics or forecasting tools.
• 1+ years experience in Home Improvement Retail.
• 1+ years experience participating or providing input into merchandising line review.
• 1+ years experience synthesizing large and diverse data sets to develop pricing and promotional recommendations.
• 1+ years experience developing processes and procedures to support business objectives.
• 2+ years experience in retail pricing and promotional organization.
• 2+ years experience working in a multi-channel environment.
Lowe’s is an equal opportunity affirmative action employer and administers all personnel practices without regard to race, color, religion, sex, age, national origin, disability, sexual orientation, gender identity or expression, marital status, veteran status, genetics or any other category protected under applicable law.
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