Retail Price Optimization Software

Pricing Products Right from the Outset with Predictive Analytics

Product Pricing is one of the most difficult decisions retailers and brands make on a daily basis. They ask themselves, “What are our customers willing to pay? Are we leaving money on the table, or is this a markdown waiting to happen?” Thankfully, retailers and brands do not need to guess anymore.

First Insight’s InsightSuite uses Predictive Analytics and the Voice of the Customer to forecast how a product should be priced—even without any sales history—for effective retail price optimization.

Pricing Winning Products

First Insight’s platform collects customer feedback on new product designs through social, email, and third-party panels to gather a statistically significant sample size. Our Platform then analyzes the responses—forecasting the outcomes for key product decisions within 24 to 48 hours. The results include clear product recommendations, aggregated customer comments, and vital price sensitivity data. The pricing data features an elasticity curve for each product and predicted Average Unit Retail (AUR) aligned with your business’ typical markdown cadence. Our platform allows you to easily identify winning products, and price them right from the outset.

Contact us to see how First Insight works and how easy it is to get started with our InsightSuite platform.

How It Works

First Insight’s Next-Gen Experience Management Platform provides a powerful, scalable, and easy-to-integrate solution that informs all the business decisions you face. Through advanced analytics including human computational modeling, Bayesian mathematical models, predictive analytics and APIs, First Insight’s platform represents a proven, breakthrough solution that helps you anticipate outcomes so you can build financial plans that you can achieve.

Understand More Through Better Listening

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The Power of Price Optimization

On a large scale, a small price change in either direction makes a significant impact on your retail business’ bottom line—showing the power of price optimization.

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By combining Predictive Analytics and the Voice of the Customer, you can optimize product pricing to increase your margins and bottom line.

By using First Insight to optimize their initial pricing and markdown cadence, our customers are making better pricing decisions – faster – to get to market quickly with the right products at the right price.

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Customer Success

  • Now we can make fact-based decisions and do it more efficiently. We are never going back to the old way of conducting line reviews.

    Lucas Johnson, Sr. Brand Manager, Global Marketing
  • First Insight’s analysis of consumers’ merchandising preferences, print favorites, and style trends provides our teams with pre-season insight into new product performance, giving them more confidence in the buying decisions and allowing us to tailor our assortment to match our consumers’ needs

    Kate Kenny, VP of Merchandise & Planning

Pricing decisions are some of the most challenging for retailers and brands.

First Insight’s Retail Optimization Software allows you to truly understand what your customers are willing to pay for a given product and their demand at certain price points—allowing you to adjust accordingly. By using our platform, you can establish an effective, repeatable pricing strategy.

30—80 Increase new product success rates by 30-80%, improving forecasting accuracy.
4—10 Increase gross profit
by 4-10%.
30 Increase speed-to-market by reducing product launch time up to 30%.

Learn More About First Insight

For over a decade, leading companies worldwide have used the First Insight solution to create winning offerings and experiences.  The results? Up to 80% higher new offering success rates, 4-10% gains in revenues and margins, and 10-15X ROI. Learn more about how we do what we do and the value we can bring to your business.

Learn How Our Retail Analytics Platform Works Learn More
Explore Our Retail Price Optimization System Learn More
Our Retail AI Helps You Predict Winning Products Learn More

Featured Press

Hotter Shoes and First Insight Announce New Partnership

Hotter Shoes and First Insight Announce New Partnership

Li & Fung and First Insight announce global strategic partnership to integrate Voice of the Customer analytics into Li & Fung's Digital Supply Chain Solutions

Li & Fung and First Insight announce global strategic partnership to integrate Voice of the Customer analytics into Li & Fung's Digital Supply Chain Solutions

First Insight Study: Price Sensitivity is Falling Across Retail Categories as Consumer Confidence Stays Strong

First Insight Study: Price Sensitivity is Falling Across Retail Categories as Consumer Confidence Stays Strong