With rising costs of raw materials, competition from online discounters and shoppers still reluctant to spend, department stores need to offer the right brands at the right price. But, how can department stores ensure that they are selling the brands that will resonate best with customers?
The First Insight solution helps leading department stores bring the right brands to market at the most profitable price. By combining real-time consumer feedback with predictive analytics, First Insight offers retailers a forward-looking view of demand.
Results can also be easily segmented by customer demographics, geographic location, psychographics, interests and shopping habits. This information enables department stores to pinpoint regional and demographic variations in demand, helping to create more accurate localized assortments and targeted pricing strategies across various markets.
Many department stores also use First Insight to optimize the launch and sales of their own private label brands.