Job Description
1. Market Analysis and Research
- Conduct market research to understand trends, customer behavior, and competitor performance.
- Analyse sales data, identify patterns, and spot opportunities for category growth.
- Develop pricing strategies based on market conditions and product performance.
2. Product Management
- Oversee product selection and assortment within the category.
- Collaborate with suppliers and vendors to ensure product availability.
- Monitor stock levels, forecast demand, and ensure proper inventory management.
3. Vendor Relationships
- Build and maintain strong relationships with suppliers.
- Negotiate pricing, terms, and promotional activities with suppliers.
- Ensure that products meet quality standards and are delivered on time.
4. Category Strategy Development
- Develop and implement strategies to grow the category’s sales and profitability.
- Identify new product opportunities and categories to introduce to the business.
- Set category goals and KPIs (Key Performance Indicators) for performance tracking.
5. Promotions and Marketing
- Work with the marketing team to create promotional plans and campaigns for the category.
- Ensure that marketing efforts align with the overall category strategy.
- Monitor the effectiveness of promotions and adjust strategies accordingly.
6. Sales Performance Monitoring
- Track sales performance and compare it against set targets.
- Provide regular reports to senior management on category performance, trends, and opportunities.
- Suggest corrective actions to improve sales when necessary.
7. Collaboration with Other Departments
- Work closely with the merchandising, logistics, and procurement teams to ensure the efficient flow of products.
- Coordinate with the sales team to ensure product knowledge and availability during customer interactions.
8. Customer Insights
- Understand customer needs and preferences related to the category.
- Use customer feedback and insights to enhance product offerings and improve the overall customer experience.
9. Budget and Financial Management
- Develop and manage the category budget, including spending on promotions and marketing.
- Monitor financial performance, focusing on margins and profitability.
10. Reporting and Analysis
- Prepare regular reports on category performance, including sales, margins, stock levels, and customer trends.
- Provide insights and recommendations based on data analysis to improve category performance.
Job Requirements
- Minimum 5-7 years of progressive experience in category management.
- Strong analytical skills and ability to draw actionable insights from complex data sets.
- Demonstrated success in leveraging market insights to drive product strategies.
- Ability to manage vendor relationships and negotiate effectively.
- Excellent communication and collaboration skills.
- Proficiency in relevant software and data analysis tools.
- Ability to develop and implement category strategies.