Job Summary:
The Pricing Analyst role is responsible for ensuring iHerb pricing is competitive and profitable through strategic analysis for all existing and new items. Additionally, this position will be accountable for reporting and explaining to internal constituents the outcome of the various pricing scenarios implemented and helping in the development of guidelines and processes for pricing actions to achieve revenue and margin growth goals.
Job Expectations:
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Develop overall pricing strategy for respective categories collaboratively with respective Category Manager(s) including routine audit of pricing and implementation of new pricing into the system to ensure compliance with overall strategy
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Develop and manage price scrapping program determining and configuring rules under the direction of management. Also controlling what items would be priced based on which competitor for all categories and in specific regions
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Maintain and configure pricing rules in companies in house software, defining and maintaining the reason or pricing strategy for each rule by brand and/or item exceptions
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Establish consistency in pricing for brands, product lines/groups, and trial/promotions in conjunction with respective Category Manager(s) and Purchasing Manager, regionally if applicable
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Analyze category margin, sales volume, and profit performance and provide weekly reports to respective stakeholders about current margin trends, growth, and areas of opportunity
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Collaborate with the logistics team and buyers to ensure freight costs are properly accounted for in the company's costing structure for pricing of new and existing products
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Provide actionable recommendations for improvement for respective categories, including but not limited to: pricing, item mix and rationalization, promotional activity, and procurement trends and patterns
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Document pricing processes and update operating procedure manuals based on process changes with assistance from Purchasing Manager and respective Category Manager(s)
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Additional jobs as assigned by Purchasing Manager
The duties and responsibilities described above may provide only a partial description of this position. This is not an exhaustive list of all aspects of the job. Other duties and responsibilities not outlined in this document may be added as necessary or desirable, with or without notice.
Knowledge, Skills and Abilities:
Required:
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Retail and/or pricing experience
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Point of Sale (POS) experience a plus
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Proficiency with Outlook, Teams, Word, and other office suite products
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Advanced excel skills
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Understanding of the dynamics of price elasticity and consumer price perceptions
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Analytical and problem solving skills
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Understanding of merchandising terminology
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Strong organization skills
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Ability to review and analyze large, complex data sets related to pricing strategies
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Ability to effectively communicate with all levels of the organization
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Ability to work independently, as well as team groups
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Ability to manage multiple projects
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High degree of accuracy and attention to detail
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Excellent organization skills and ability to multitask
Equipment Knowledge:
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Experience with Microsoft Office Suite (Word, Excel, PowerPoint)
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Experience with Google Business Suite (Gmail, Drive, Docs, Sheets, Forms) preferred
Experience Requirements:
Generally requires between two (2) to three (3) years of experience.
Education Requirements:
Bachelor’s Degree in Business or related field preferred, or a combination of education and equivalent work experience.
Judgment/Reasoning Ability: Able to identify, troubleshoot and resolve problems quickly using sound judgment, poise and diplomacy. Ability to use judgment and reasoning skills, and determine when to escalate issues, as required, in a timely manner.
Physical Demands: The physical demands described here are representative of those that must be met by a Team Member to successfully perform the essential functions of this job. While performing the duties of this job, the Team Member is regularly required to talk and hear. The Team Member is frequently required to sit, walk, climb stairs, use hands and fingers, bend, stoop and reach with hands and arms. Reaching above shoulder heights, below the waist or lifting as required to file documents or store materials throughout the work day. The Team Member may occasionally lift or move office products and supplies up to 25 pounds. Proper lifting techniques required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Work Environment: The noise in the work environment is usually moderate. Other factors are:
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Hectic, fast-paced with multi-level distractions
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Professional, yet casual work environment
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Office / Warehouse environment
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Ability to work extended hours as required
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At iHerb we strive for innovation, targeted at delivering a customer-centric experience while transforming the online shopping experience. We change direction and define ourselves in the idea that individually we are incredible but united our growth is infinite and paramount to our success. iHerb strives to be the global industry leader!
iHerb is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status. iHerb provides equal employment opportunities to all applicants for employment and prohibits discrimination and harassment.
