Underperforming inventory remains the #1 challenge among retailers. With rapidly changing customer preferences and the abundance of new shopping channels, planning and allocation teams have increasingly difficult jobs in identifying when and where products will be the most profitable.
First Insight enables you to:
Recognize product trends and demand: Most planning decisions rely on historical data or known changes, such as calendar shifts or promotional events. First Insight provides an added layer of real-time consumer input to your decision-making to accurately plan what the market wants at any given time. Our solution connects with customers and applies real-time feedback to predictive analytics; providing you with a forward-looking view of consumer demand. Now you can recognize the latest trends and product opportunities ahead of time, staying a step ahead of your competition.
Plan optimal product assortments: First Insight uses consumer preference and pricing models to pinpoint where products will be most profitable and why. Knowing up front, which products will yield the greatest return on investment, enables planners to make the most efficient use of buying dollars, while reducing costs of traditional testing methods.
Allocate the right quantities to the right store - the first time: First Insight pinpoints regional and demographic variations in demand with unprecedented speed and accuracy. Our solution provides granular segment data that you can "slice and dice" to better understand how each market will respond to an assortment. Through this process, you will gain valuable, fact-based consumer insight to better allocate quantities to specific stores for maximum ROI.