What are the responsibilities and job description for the Director Pricing position at Lowe's?
Your Impact
The primary purpose of this role to lead a team of managers and analysts to lead the development and execution of pricing strategies and to support senior merchandising leadership to achieve their financial and operational goals. Responsibilities include the development and implementation of the end to end pricing cycle strategy in setting base price points, executing promotion vehicles, managing price tests, and implementing promotions and exit strategies. The Director will take into consideration competitive position, line structure, cost, and other critical inputs necessary to make the right pricing decision. This role will utilize best in class pricing practice, including customer demand modeling, elasticity, scenario analysis and rules based pricing to support the merchants. In addition, they will collaborate with leadership in Analytics, FP&A, IT, Merchandising Operations and other teams to effectively measure, optimize and innovate pricing and promo strategies, tools, models and analytics. The Pricing Director works directly with the GMM, representing approximately a third of the overall business, and works directly with the MVPs in the respective areas of business.
- Primarily responsible for optimization and delivery of Lowe's enterprise pricing strategy, competitive position and value perception.
- Responsible for ensuring pricing strategy implementation and alignment of end-to-end life cycle of price point for all products, including base price, price testing, promotion vehicles, and end of life through pre-clearance.
- Will maintain a strategic partnership with the Promotions Director in the creation and execution of all promotional vehicles in relevant categories. Responsible for maintaining relationships, communicating effectively, and building cross functional partnerships with senior leaders with a focus on Merchandising, Pricing and promotions, Supply Chain, and Lowe's digital.
- Responsible for ensuring that the Lowe's enterprise pricing strategy frameworks and guardrails are implemented across all product categories at Lowe's.
- Responsible for ensuring that the entire Pricing organization is listening to and reacting to the needs of the business while also fully supporting the enterprise pricing strategy and objectives. The pricing director will ensure that all members of the team utilize all available tools, data, and insights to deliver the best possible of service and results to their respective partners.
- Assists with recruiting and hiring efforts as needed. Responsible for leading and developing their team, especially the managers and lead, with a focus on Core Behaviors and on succession planning. Will work with other leaders within the Pricing organization to create development and leadership opportunities for the entire department to create a robust bench of talent that will become the future leaders of the organization.
- Responsible for ensuring that the pricing organization meets all key deliverables and timelines for assigned tasks and projects - raising risks and creating contingency plans where needed to ensure that the organization achieves its business and operational objectives and goals.
- Works with business partners and other stakeholders to prioritize information/reporting needs and prioritizes activities for direct reports.
- Provides timely, effective and actionable feedback and coaching to reporting individuals so that they may continue growth and development as well as perform necessary responsibilities of their role.
- Responsible for creating a culture of continuous improvement, using lessons learned and feedback from business partners to modify and improve all existing processes and creating new processes/best practices as well as sponsoring a prioritized list of needed IT enhancements based on the needs of their team.
Required Qualifications
- Bachelor's Degree in Business Administration, Finance, Marketing, Statistics, or related field
- 10 Years Experience in Price Management, Merchandising, Financial Planning and Analysis, Store Operations, or Logistics. Experience as a Lead Merchant and/or Pricing Lead in an omni-channel retail environment. Experience working in crossfunctional teams, leadership with direct report responsibility, data elements or financial metrics analyses.
- At least 2 years of experience working closely with senior leadership (VP and above) and 5 years of managing direct reports.
Preferred Qualifications
- Masters Degree, MBA, or other relevant
- Prior corporate retail pricing, promotions or competitive intelligence analytics or strategy experience. At least 12 years of comparable experience plus 5 years of experience with price optimization solutions.
About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2023 sales of more than $86 billion, Lowe’s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.
Lowe’s is an equal opportunity employer and administers all personnel practices without regard to race, color, religious creed, sex, gender, age, ancestry, national origin, mental or physical disability or medical condition, sexual orientation, gender identity or expression, marital status, military or veteran status, genetic information, or any other category protected under federal, state, or local law.
Starting rate of pay may vary based on factors including, but not limited to, position offered, location, education, training, and/or experience. For information regarding our benefit programs and eligibility, please visit https://talent.lowes.com/us/en/benefits.
