Retailers and manufacturers lose billions each year due to poor forecasting and incorrect buy quantities.
According to a research study conducted by IHL Group, this is a $1.1+ trillion problem globally.
Some of the challenges facing planners today, when determining how much to buy, include:
- Stock outs on winning products
- Margin erosion due to excess inventory and markdowns
- Difficulties accurately forecasting price over the lifecycle of the product
Discover how First Insight’s forward-looking consumer data takes the guesswork out of the equation for planners:
- Increase forecast accuracy by more than 20%
- Reduce markdowns by up to 25%
- Make accurate buys based on real-time consumer-driven data
- Identify trends to optimize each buy
First Insight gives you actionable consumer-driven data to significantly increase your forecast accuracy. By integrating this information into your planning system, you can add the Voice of the Customer to your historical and trend data to create more profitable and efficient assortment plans.
Find out how retailers and brands across the globe are saving money with First Insight.