Wholesalers and merchants must both be more in-tune with their consumers than ever before, in order to succeed in the current retail landscape. This year has changed the way that shoppers discover and purchase product, making it critical for businesses to look forward and develop new strategies.
In today’s webinar from FN, “Winning Product Experiences: How Kohl’s Creates Value with Predictive Analytics and Product Differentiation,” experts from Kohl’s and First Insight discussed just how to adopt this forward-thinking approach. The conversation was moderated by FN deputy editor Sheena Butler-Young and featured Dan Plas, SVP and general manager of accessories, jewelry, footwear & gifting at Kohl’s, and Jim Shea, chief commercial officer of First Insight.
During the discussion, Plas and Shea spoke about the various areas of production and merchandising that can be improved with predictive analytics; the impact of a solution like First Insight on a retailer’s reaction time; and the use of data as a way to inform – not dictate – strategy.