Challenges & Solutions

Although our customers’ business types may vary, the challenges they face are recurring themes in the retail industry.


First Insight’s Customer-Centric Merchandising Platform is transforming the industry by addressing these common problems.

Reduce
Markdowns

Set Entry Price
Points

Reduce Store
Testing

Improve Product
Success Rates

Improve Forecast
Accuracy

Inform Design
Decisions

Reduce
Markdowns

Set Entry Price
Points

Reduce Store
Testing

Improved Product
Success Rates

Improve Forecast
Accuracy

Inform Design
Decisions

 

Retail and Consumer Products Solutions

 

Footwear

Designed specifically for footwear wholesale brands, InsightSuite/FW (footwear) delivers actionable intelligence early in the design cycle, reducing tooling, prototypes and sample costs, while providing sales teams with forward-looking consumer data segmented by retail channel. These data are used at sell-in to increase adoption rates.


“Being able to present direct consumer feedback during line reviews really elevates the discussions we have with our retail partners. Our sales team is more confident making line recommendations and our partners feel they are making more data-driven, consumerp-based decisions.”

— Keith Duplain, GMM, Caleres


“First Insight results help us to target our styles, attributes, and product positioning for our key consumer segments. We use these insights to drive decisions across the organization, from product design to buying and planning to marketing.”

— Ed Wunsch, VP of Marketing Analytics, Crocs




Consumer Products

InsightSuite/CP (consumer products) enables consumer goods companies to reduce the risk and increase the success rate of new product introductions quickly, providing feedback from hundreds or thousands of respondents in 24-48 hours. Predictive analytics deliver actionable data across dozens of attributes in real time. InsightSuite/CP is faster, more scalable and more predictive than traditional consumer research approaches such as conjoint analysis.

“As a fast-growing nutritional supplements company, Nutrabolt is focused not only on getting the product right, but on making sure we have the right packaging, labeling and pricing. Also, since our products are offered through multiple channels, we need data to understand which products should be offered through which retailers and at what prices. First Insight’s platform helps us answer these questions quickly and accurately. Using First Insight, within 24 hours, we have actionable data from our customers- as well as from those who are not yet our customers – on the optimal messaging, packaging and pricing – all segmented by retail channel. This has helped generate measurable gains in sales and margins.”

— John Herman, EVP and GM North America, Nutrabolt

Fast Fashion

Designed to meet the unique needs of fast fashion retailers, InsightSuite/FF provides actionable data on a weekly cycle, enabling retailers to read industry trends, incorporate data on what is currently selling, and test new styles with consumers quickly so they can react in real time. The result is a data-driven approach to identifying new designs, pricing items correctly, and weighting buys – all compressed into a weekly calendar.


“First Insight is enabling us to test a wide range of possible new products within 24 to 48 hours. This capability enables us to drive speed to market with the right items, which is critical for a fast fashion retailer. When compared to in-store testing, First Insight is faster, more accurate and less costly because we avoid buying unproductive store test inventory.”

— Karen Pinney, Chief Merchant, rue21

Luxury

Luxury brands that traditionally based their strategies on scarcity and on selling products at full price are also turning their attention to managing inventory levels. Another challenge for luxury brands is the confidential nature of new designs: while they want customer feedback, they need to maintain confidentiality to ensure next season’s designs are not copied by another brand.


InsightSuite/LX (luxury) enables luxury brands to get feedback on new designs while maintaining confidentiality, and has proven to deliver more full-price sales while reducing inventory levels for many European luxury brands.



Digitally Native

The challenge for digitally native brands is to find ways to grow a business without a physical store footprint and with a small but growing customer base. InsightSuite/DN enables these companies to reach consumer groups that are not part of their current database through integrated third party panels. Through a wizard-based interface, designers and merchants in digitally native brands can select a target audience and gain feedback from these prospective consumer groups in real-time.


Users of InsightSuite/DN include Saxx, the fastest growing digitally-native men’s underwear company in North America, and Qalo, a fast growing online jewelry company.