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Our assortment optimization tools for brands and retailers deliver remarkably accurate predictions for product and assortment selection. We help you maximize your reach, identify high value and complimentary products, and avoid producing products that won’t perform.
Want your assortment to appeal to as many different consumers as possible and maximize total sales? Want to confirm your intuition, especially on trade-off decisions, with consumer input? InsightSuite is easy to use and delivers rapid, clear results. Assortments are optimized by leveraging consumer insights with the most sophisticated predictive analytics tools in the retail industry. Our machine learning algorithms are the most mature, powered by over 10 years of aggregate data. We deliver highly accurate and actionable assortment strategies that can be acted upon before you ever create a product sample.
Identify winning assortments that address the broadest range of customers. Compare production cost against reach to increase sell-in while keeping cost low.
Segment potential customers by age, location, interest or any number of factors and create optimized assortments for each segment.
Analyze consumer feedback to optimize cart size, and/or response to various marketing promotions like BOGO.
Selecting the correct assortment for the retail marketplace is continually becoming more complex. Shelf space is shrinking, supply chains are being disrupted, and consumers are becoming increasingly savvy. Retailers can no longer gauge the success of an assortment based upon total sales and turn numbers alone. In order to outperform the competition and reduce production cost, predictive tools must be deployed to optimize an assortment before it hits store shelves.
Our InsightSuite software empowers brands and retailers to gain sales and assortment insight before a product goes into production. Use your product concepts, samples, or 3D models to gain feedback from potential customers and analyze consumer sentiment.
We deliver actionable data on optimal entry price and price elasticity, markdown cadences, value-add features to your products, demand at different price points, features that are offensive or undesirable to consumers, and much more. Our tools then aggregate all of this info to optimize a full assortment for the broadest customer reach and highest total sales and margins.
Cater to your potential customers’ tastes and needs without adding unnecessary product features that raise production complexity. Our assortment optimization software clearly presents the product features that are helping you to gain additional product reach. Production time, manufacturing costs and dependency on supply chains can also be reduced by eliminating features from your assortment that don’t drive sales.
Understand whether a feature should be included in your entire assortment, added strategically to select products, or removed all together. InsightSuite captures valuable voice of the customer feedback and uses sophisticated machine learning algorithms to identify new features not currently included in your products. Stay ahead of the competition and constantly innovate with each new product cycle.
Many retailers tend to be inwardly focused when planning their assortments and don’t consider how consumers will respond when comparing products from different brands. However, our assortment optimization analysis goes beyond internal product development exercises to deliver additional competitive advantages. With InsightSuite you can build an assortment that includes your products alongside your competitors to understand how you stack up in retail stores or the digital marketplace.
Know if your competition will outsell you and find the perfect price point to undercut the other offerings. Gain valuable consumer data to improve your sell-in results, justifying deeper buys and/or more slots when your items secure more unique customers and/or promote more multi-unit sales. Test different packaging options to discover which approach helps you stand out the most.
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
Learn how The Rockport Company created a new product playbook powered by the Voice of the Customer and predictive tools.View the Webinar & Highlights
While the Covid-19 pandemic hit most retailers hard, it created uniquely intense challenges for Hotter Shoes. Hotter needed to build up its e-commerce presence and appeal to a new group of shoppers at the same time.Read the Case Study