About the position
At Five Below our growth is a result of the people who embrace our purpose: We know life is way better when you are free to Let Go & Have Fun in an amazing experience, filled with unlimited possibilities, priced so low, you can always say yes to the newest, coolest stuff! Just ask any of our over 20,000 associates who work at Five Below and they’ll tell you there’s no other place like it. It all starts with our purpose and then, The Five Below Way, which is our values and behaviors that each and every associate believes in. It’s all about culture at Five Below, making this a place that can inspire you as much as you inspire us with big ideas, super energy, passion, and the ability to make the workplace a WOWplace!
Responsibilities
- Manage and Own the Product Life Cycle: Oversee the entire product life cycle from concept to market launch and post-launch evaluation. Ensure alignment with company objectives throughout development.
- Oversee Daily Communication: Maintain effective daily communication with cross-functional teams and overseas partners to manage timelines and quality.
- Build Strategic Product Roadmap: Collaborate with Buying counterparts to create a strategic, data-driven product roadmap. Prioritize initiatives based on market analysis and consumer insights.
- Identify Growth Opportunities: Monitor industry trends, suppliers, and the retail landscape to identify new growth opportunities. Develop relationships with suppliers to enhance product offerings.
- Conduct Market Research: Perform market research to stay current with trends, consumer preferences, and competition. Identify market gaps and opportunities for product and packaging innovation.
- Achieve Cost and Margin Goals: Develop and manage product budgets to meet target costs and margin goals. Implement cost optimization strategies without compromising quality.
- Ensure Compliance and Quality: Collaborate with testing and compliance teams to ensure products meet regulatory standards and quality expectations. Address compliance issues and implement corrective actions as needed.
- Adhere to Development Calendar: Follow the Go-to-Market development calendar to ensure timely product delivery. Meet key milestone dates and maintain project timelines.
- Collaborate on Product Ideation: Participate in brainstorming sessions for new products and extensions, focusing on home goods, apparel, and seasonal items. Develop innovative products aligned with market trends and consumer demand.
- Create Trend Presentations: Partner with the Product Development team to create presentations on seasonal trends and product strategies. Present findings and recommendations to stakeholders.
- Generate Ideas and Improve Profitability: Propose new product ideas and strategies to improve the profitability of existing products. Drive growth through innovative product planning.
- Mentor Junior Team Members: Mentor and train product development assistants and associates. Promote professional development and a collaborative team environment.
Requirements
- Bachelor’s degree required
- 3-5 years in product development, sourcing, design, or buying, with 2+ years in a specific category.
- Background in product innovation, brand management, marketing, retail, or strategy consulting.
- Ability to analyze market trends and consumer behavior to predict product demands.
- Skilled in data analytics and market research for strategic decisions.
- Proven collaboration with manufacturers for timely, cost-effective production.
- Understanding of consumer behavior, retail strategies, and sales channels.
- Ability to turn consumer insights into product development strategies.
- Strong project management skills with a history of managing multiple projects.
- Exceptional organizational skills and attention to detail.
- Excellent verbal and written communication, with experience presenting to stakeholders.
- Effective collaboration within cross-functional teams.
- Proficient in Microsoft Office; Adobe Creative Suite is a plus.
- Willingness and ability to travel internationally.
- Ability to sit for long periods and lift up to 50lbs as needed.
Benefits
- Health coverage
- Financial and personal wellness support
