Data Scientist | Merch Algorithms | Pricing Optimization

Stitch Fix, Inc.; United States; Remote; USD 153,000 - 226,000; Full time

Job summary

Stitch Fix, Inc. is looking for a Data Scientist focused on Merch Algorithms and Pricing Optimization. This remote role involves leveraging data science techniques to optimize pricing strategies and enhance business decision-making. You'll work collaboratively across teams to influence pricing decisions, drive impactful solutions, and engage in various projects that aim to revolutionize how clients interact with their inventory.

Benefits

Comprehensive compensation packages

Inclusive health and wellness benefits

Equity and stock options

Qualifications

• Proficiency in Python and SQL required.
• Experience leading pricing experiments highly valued.
• Understanding of statistical principles and data visualization tools necessary.

Responsibilities

• Drive data-informed strategic decisions on pricing optimization.
• Collaborate with cross-functional teams to enhance decision-making processes.
• Design and implement pricing strategy improvements.

Skills

Python

Statistical principles

Optimization techniques

SQL

Data visualization

Job description

Stitch Fix empowers people to be their best selves—professionally and personally.

We’re a team of bright, kind individuals who are motivated by challenge and who care deeply about achieving great things. We know our individual strengths, but believe we only win as a team. We’re transforming the way people find what they love - and we need your big ideas. We just might be the perfect fit.

Data Scientist | Merch Algorithms | Pricing Optimization

Remote, USA

About Stitch Fix, Inc.

Stitch Fix (NASDAQ: SFIX) is the leading online personal styling service that helps people discover the styles they will love that fit perfectly so they always look - and feel - their best. Few things are more personal than getting dressed, but finding clothing that fits and looks great can be a challenge. Stitch Fix solves that problem. By pairing expert stylists with best-in-class AI and recommendation algorithms, the company leverages its assortment of exclusive and national brands to meet each client's individual tastes and needs, making it convenient for clients to express their personal style without having to spend hours in stores or sifting through endless choices online. Stitch Fix, which was founded in 2011, is headquartered in San Francisco.

About the Team

The Merchandising Algorithms team helps ensure that Stitch Fix purchases the right inventory to delight our clients while also supporting their sell-through via pricing recommendations and other levers in order to efficiently operate the business. Team members are owners of the health and efficiency of product lifecycle management and the quality of our inventory state, providing analyses and insights to empower our business partners to improve our assortment. Alongside partnerships in merchandise planning, finance, and product, we build tools to optimally disseminate operational budgets and manage the trade off between the cost of liquidation and incremental sales at reduced price, all while maintaining a high value product experience for our clients.

About the Role

This role will combine technical expertise in data science and pricing optimization with strong decision-making capabilities to drive data-informed strategic decisions across the organization. The ideal candidate will have a passion for solving complex business problems, utilizing data to derive insights, and providing actionable recommendations that guide key business decisions. As a Data Scientist at Stitch Fix, you will design, implement, and validate improvements to our pricing strategy to ensure optimal sell-through given business constraints and client demand. Optimizing our pricing strategy has considerable opportunity for impact at Stitch Fix, with improving manual processes that can take days to weeks into automated recommendations and ensuring we move towards a client-right approach to inventory management with smart, active processes to increase business efficiency and unit margin.

Potential projects include:
Enabling a dynamic price optimization module that recommends pricing actions based on style aging, AUC, turn, client feedback (e.g., return rate, PTE, etc), and margin thresholds.
Recommending a pricing strategy and testing roadmap to ensure Stitch Fix remains competitive and considerate of margin.

You're excited about this opportunity because you will…

• Build key relationships with stakeholders across product, engineering, finance, and operations and collaborate on translating business challenges into analytical questions that can be addressed using data science techniques
• Use decision-modeling frameworks, such as simulations, optimization models, and A/B testing, to assess potential outcomes and guide decision-making, particularly influencing pricing decisions.
• Solution at high speed with a small, agile team of coworkers to produce outsized impact on the business
• Have the autonomy to identify unaddressed problems in the business as well as offer new, improved solutions to existing challenges
• Build tools and dashboards to support data-driven decision-making and empower non-technical stakeholders to leverage data insights in day-to-day decisions.
• Be exposed to a wide-open field of opportunity for impact with plenty of challenges to make your own
• Work in concert with and learn from a large, diverse, and world-class Algorithms team towards the common goal of transforming the way people find what they love.

We’re excited about you because…

• You have proficiency in Python.
• You have experience leading pricing experiments and supporting cross-functional partners through the end-to-end decisioning process.
• You have an understanding of statistical principles and how to apply them to data and experimental results, and can communicate derived insights to stakeholders to drive action.
• You have experience with optimization techniques such as linear programming, dynamic programming and others.
• You’re comfortable with SQL and experience working with large datasets to gather insights.
• You drive for resiliency. You take a principled approach to complexity, and can make smart bets on where to invest time and system burden for maximum business impact.
• You’re curious about what’s happening outside your immediate sphere and how you can leverage insights elsewhere inside the domains you own.
• You have familiarity with data visualization tools such as matplotlib, seaborn, looker etc,
• You’re happiest as a team player and you are able to balance time against multiple systems and work streams with defined objectives.

Why you'll love working at Stitch Fix...

• We are a group of bright, kind people who are motivated by challenge. We value integrity, innovation and trust. You’ll bring these characteristics to life in everything you do at Stitch Fix.
• We cultivate a community of diverse perspectives— all voices are heard and valued.
• We are an innovative company and leverage our strengths in fashion and tech to disrupt the future of retail.
• We win as a team, commit to our work, and celebrate grit together because we value strong relationships.
• We boldly create the future while keeping equity and sustainability at the center of all that we do.
• We are the owners of our work and are energized by solving problems through a growth mindset lens. We think broadly and creatively through every situation to create meaningful impact.
• We offer comprehensive compensation packages and inclusive health and wellness benefits.

Compensation and Benefits

This role will receive a competitive salary, benefits, and equity. The salary for US-based employees hired into this role will be aligned with the range below, which includes our three geographic areas. A variety of factors are considered when determining someone’s compensation–including a candidate’s professional background, experience, location, and performance.This position is eligible for new hire and ongoing grants of restricted stock units depending on employee and company performance. In addition, the position is eligible for medical, dental, vision, and other benefits. Applicants should apply via our internal or external careers site.

Salary Range

$153,700 - $226,000 USD

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