New products are the lifeblood of retail, yet more than 50% of them fail. The consumer is connected and in control. With the speed and scale of today’s retail industry, how do you learn what she wants? How do you make product investment decisions quickly and with confidence?
In 2007, First Insight created the industry’s first digital product testing solution to bring the voice of the customer into new product decision-making. Today, over 150 retailers, brands, manufacturers and wholesalers worldwide use the First Insight platform to design, select, price, buy, and market more successful new products.
Through Bayesian AI modeling, machine learning and APIs, First Insight’s predictive analytics platform provides a powerful, scalable, and easy-to-integrate solution that informs all the product assortment decisions retailers face every season. But we are much more than an analytics platform.
First Insight is a complete product decision-making solution powered by a dedicated team of retail professionals who support you through every step of the process. From strategy to execution, our team will ensure the solution adapts to your product calendar, maximizing margin gains and minimizing workload.
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What new products and styles should you offer?
What price points will be most profitable?
What quantities should you order?
How do you target the right consumers with the right offers?
With over 100 full-time employees, we offer a unique partnership approach that integrates seamlessly with any retail operation and focuses on achieving clear customer goals. We employ a hands-on, managed-services approach in helping our retail customers make the right new product decisions. Our model emphasizes close and intimate customer engagement, making First Insight a true extension of the brands we serve.
— Lee Belitsky, CFO