Retail Technology Innovation Hub Mentions First Insight | First Insight Announces AI Powered Approach to Help Retailers Optimise Price, Margin and Inventory
First Insight is laying claim to a new approach to predicting pricing and demand to protect retailers’ margins amid tariff uncertainty.
The onset of tariffs has made many retailers acutely aware that they’re not prepared for unexpected supply chain volatility and the shifting consumer behaviors that result.
First Insight, which works with retailers like Gap, Under Armour and Marks & Spencer, has turned its attention to making sure firms can take control of their pricing and inventory strategies using real-time customer insights and predictive scenario modeling.
In the last few months alone, tariffs have shifted in percentages, impacted countries and affected categories and materials - creating confusion and financial pressure across the retail industry.
These unpredictable changes lead to pricing blind spots that erode margins and force retailers into reactive, often damaging decisions. Retailers need to be able to simulate how tariff driven costs impact their margins and sales, and understand how consumers perceive product value at different price points.
First Insight’s approach to tariff readiness ensures that retailers - in the US and across Europe - are improving the factors they can control, such as consumer facing pricing, assortment planning, how much inventory they should stock - and which products they shouldn’t stock at all.
And it claims that it’s equipping them to do it within a week. By tapping into its global network of 360+ million users, First Insight’s platform engages actual consumers to take real-time temperature checks on what they value, what they’ll buy and what they won’t, and delivers the resulting actions within 24 - 48 hours, so retailers can: Determine the optimal price for every single SKU; Take control of margins with predictive scenarios; Remove unpredictability from inventory planning.
“Tariffs are an opportunity to either lead with a strategy or react out of fear,” says Greg Petro, CEO at First Insight. “Moves like early order pulls, blanket price hikes, steep promotions, or arbitrary cuts may feel safe, but they aren’t a strategy. Now is the time to plan. We are guiding leading retailers and manufacturers around the globe to use real-time AI market data to get through the tough calls now, so they’re prepared to navigate unpredictable, but inevitable future scenarios.”
Read the full article on Retail Technology Innovation Hub.
