First Insight delivers value to retailers and manufacturers in five measurable ways. Results are typically 3-9% gains in sales and margin.
- Utilizing predictive analytics, we identify the right products to select, and just as importantly, the ones to avoid.
- Retailers using First Insight typically realize a 50-100% increase in “win rate” of new products.
Deeper than Planned Buys
- We help ensure you have the right inventory levels on winning products, reducing stock-outs.
- By reducing or eliminating under-performers and reinvesting in items with higher sell-through and margin, you increase overall gross margins by 3-9%.
- By identifying MarginMovers – items that can bear a higher opening price point – you increase margins.
- 11% of products tested by First Insight can bear a higher price than originally planned – without price resistance or declines in sell-through.
Reduce Testing & Sample Costs
- Retailers using First Insight reduce in-store testing, focus groups and other market research methods, saving cost.
- Eliminating poor performing products early in the design process reduces the “cost of failure” – reducing samples, inventory write-offs, etc.
- Directing customers to shop online after playing games drives revenue.
- Targeting new products to the right consumer profiles generates conversions.