The latest Wall Street Journal survey of economists says the recession won’t end until September and unemployment won’t come down until the second half of 2010. The Financial Times reports a sea change in consumer behavior: “Conscientious consumption” and “voluntary simplicity” are the new watchwords.
Marshall Field grew his namesake business with a simple motto superbly executed, “Give the lady what she wants.” That’s fundamental to success today. Great merchandise is the best offense when everyone else is playing defensive. Get the product right and the rest of your complex business gets a lot easier to run.
“How should I do that?” you ask. You know the trite answer, “Listen to your customer.” You know the story, that there’s no good way to do that.
Collective intelligence for retail changes that. First Insight brings you an approach that’s far superior to focus groups and other common approaches used today.
First Insight’s turnkey collective intelligence for retail solution will get your merchants and designers listening to your customers in days. They can apply consumer insight to selection and design decisions within two weeks.
Our predictive retail analytics are superior to focus groups and other conventional product testing methods. With First Insight you can:
- Directly measure customer interest in actual products and product concepts
- Inductively assess the relative strengths of product attributes
- Easily test an order of magnitude more items, going deeper into the assortment
- Reliably estimate product sales, gross margin, and lifecycle demand by price
Written by: Greg Girard, VP Marketing