Objective
In collaboration with various departments, the Pricing Analyst will be responsible for analyzing pricing strategies and implementing pricing models to optimize revenue and profitability for LOTTE Travel Retail Singapore. This role requires a strong analytical mindset and the ability to work with large sets of data.
Responsibilities
- Develop and maintain the in-house database with historical data collected from pricing audit, vendor's pricing raw data shared and physical price checks both in local domestic markets and overseas where required
- Collect, compile, analyze pricing data and present to Senior Management, stakeholders and facilitate in vendor communications monthly on pricing strategies
- Analyze pricing trends, market conditions, and competitor pricing strategies ensuring Lotte Travel Retail Singapore comply to the lowest price commitment in Singapore Changi Airport on a monthly basis
- Be the point of contact to communicate with the landlord in pricing submission monthly and develop logic by analyzing data to support and justify the request from Lowest Price Policy exception where applicable.
- Perform pricing analysis to identify gaps in pricing in Lotte Duty Free and other International Airports Retailers.
- Develop and maintain pricing models to optimize product pricing
- Collaborate with cross-functional teams to develop and implement pricing strategies
- Monitor pricing performance and make recommendations for adjustments as needed
- Conduct regular monthly price reviews and adjustments based on market conditions locally and overseas
- May be required to travel regionally to conduct price checks physically on ad-hoc basis
- Provide support for pricing-related projects and initiatives
- Any other duties which maybe assigned by immediate superior/Manager from time to time
Requirements
- Bachelor's degree in Business, Finance, Economics, or a related field
- 3+ years of experience in pricing analysis or a similar role
- Strong analytical and problem-solving skills
- Proficiency in data analysis and modeling
- Advanced Excel skills is required
- Ability to work independently and multitask
- Excellent communication and presentation skills
- Attention to detail and accuracy
- Experience in the retail industry is a plus
