Choosing the right products, at the right price, in the right quantities is a difficult challenge. How can merchants accurately sense customer demand in order to make the most profitable decisions?
First Insight enables you to:
Create optimal product assortments: First Insight uses consumer preference and pricing models to determine which products will be most profitable if brought to market. Knowing up front which products will yield the greatest return on investment enables merchants to make the most efficient use of buying dollars while significantly mitigating risks of new product introductions. First Insight can test hundreds of products across multiple categories in as little as 72-hours.
Identify localized preferences: Merchants can pinpoint regional or demographic variations in preferences and demand by creating customized subset groups to slice and dice results. First Insight clearly illustrates where products will have the most success and profitability. By identifying localized demand, merchants can improve assortment planning to deliver the right products, in the right stores, at the right time.
Recognize trends for efficient category management: In testing products over time, merchants gain a real-time view of how trends are seeding in the market place, outlining growth opportunities or early decline detection. Trends can be identified on a product or attribute level to help merchants optimize each "next" buy.