Position Summary: The Merchandise Analyst – for our Style Life brand is responsible for, promotions planning, pricing, projections, product line mgmt., assisting in product development, and system support, to meet the demands of the Independent Consultants (Stylists) for the Style Life brand. The ultimate goal is increased product performance, marketability, and relevance to the consumer. In addition, they collaborate within the entirety of the Marketing and Creative team to stage-out product effectively based on product lifecycle, sales, consumer insight, and market relevance. The Merchandise Analyst for the Style Life brand is a balance between detail-oriented and analytical, as well as creative. This allows them to effectively verify, forecast, track, and analyze trends, as well as Operational and Sales metrics, while being mindful of trends, aesthetic, and market-relevance, ensuring the optimization of the product positioning, placement and creating opportunities for improvement and growth. This seat is also responsible for enforcing standards with internal and external teams with supporting data, while maintaining flexibility to meet unique needs as they arise.
Principal Duties and Responsibilities:
- Present the “story” of the product analysis and give suggestions on improvements and direction to maximize sales revenue and brand awareness.
- Work closely with sales force and creative/marketing leaders on overall opportunities for growth.
- Assist in the development of marketing plans.
- Collaborate in the development of packaging opportunities, product aesthetic, line balance/management, and key features and benefits to create an attractive, well-received product line.
- Prepare reports to measure the effectiveness of programs.
- Conduct deep analytics on a broad set of internal and external data and play a lead role in problem solving through findings and insights from that analysis.
- Aid the system admin, Director of Field Development, and other relevant team members in the analysis of Rewards, Customer and Stylist Incentives, and product promotions that is revenue-driving and scalable, while being mindful of COGS and overall profit margin.
- Participate heavily in the creation of product bundles, discounts, and overall product promotions.
- Collaborate with Sales on an effective exit strategy of product.
- As growth continues, collaborate with colleagues to create new strategies across a wide platform of projects.
- Develop and document specifications and standard work processes for data management with cross-functional teams.
- Provide useful and relevant process of reporting to specific levels of the organization.
- Identify new areas to measure and monitor based on analysis of trends and internal/external stakeholder feedback.
- Document, maintain, and communicate each step of process to key stakeholders.
- All other duties as assigned by direct Supervisor.
Product Line Planning:
- Designing and implementing reorder parameters, by product category, sales success, product lifecycle, and other relevant factors, to meet performance and reorder fulfillment standards.
- Collaborate with Marketing, Creative, and Sales to aid in planning the product line based on specific needs, and intentional sales analysis within tight deadlines.
- Collaborate in the establishment of Margin rules for rewards trips, gifts, and product for the Stylists, as well as weekly incentive programs.
- Analyze the success or failure of rewards and incentives—collaborating on key ways to improve them for both the Stylists in the field and for the organization.
- Be an avid learner of consumer behavior, market knowledge, competitor awareness, and relevance of key product categories to optimize the product story.
- Designing product bundle assortments, based on sales analytics, to maximize revenue/month.
Product and Market Research:
- Perform market surveys with internal client, as well as external resources to create, maintain, and update relevant data for product information.
- Partner with Sales, Creative, and Marketing, to provide reports, statistics, and recommendations based both on quantitative and qualitative data.
- Gather data on competitors and past sales to analyze prices, methods of marketing, and distribution.
- Collaborate with key leaders within Marketing and Creative during all four phases of the product lifecycle (Introduction, Growth, Maturity, and Decline) on effective strategies to maximize sales.
- Assign and apply the appropriate “stage” for each product within the assigned brand(s) through proper analysis and collaboration.
- Help move inventory by making suggestions to sales on products to that should transition from our “direct channel” of distribution to our “closeout channel” of distribution.
- Make recommendations on key products/product categories missing from the line.
- Make recommendations where product categories are over-, or under-populated.
Convivial Brands Expectations of all Employees: