First Insight CEO Says Understanding Consumer Behavior Is Key to Retail Success

August 23 2017 by Arthur Zaczkiewicz for Women's Wear Daily

Greg Petro, founder and chief executive officer of First Insight, shares his thoughts on the retail market.

Greg-Petro-HS-6-9-17.jpg

It’s been a busy year for First Insight Inc. The predictive analytics firm has taken on a host of new clients, which include brands such as Vineyard Vines, Chico’s FAS, Desigual and Lilly Pulitzer, among others. Greg Petro, founder and chief executive officer, said he expects 2018 to be just as busy as companies respond to shifts in the retail market.

Here, Petro shares his insights into how his firm’s solution helps brands and retailers as well as the importance of pricing strategies and understanding consumer behavior.

WWD: In its simplest terms, retail is essentially about getting product and pricing right. How are you helping companies align their business with the right product at the right price while meeting other consumer expectations?

Greg Petro: I’ve been in retail now for 30-plus years believe it or not, and you’re correct, it does come down to product and price. And interestingly, product differentiation and uniqueness are more important now than ever for a retailer or brand to be successful.

Read the full article

Retail Analytics  Big Data  retailers  consumers  retail technology

Looking for more info? Complete the form below.

Featured Product

InsightSuite for Small Business

Specialized Tools for Small & Emerging Businesses

The fastest and most cost effective way to increase sales, profits and sell-in for growing businesses and digitally native brands.

Learn more
Free Ebook

Maximize Value, Speed & Profit

Learn how to leverage Voice of the Customer Analytics and 3D Product Creation to make more profitable products, faster.

Get the Free E-book
Roundtable Video

Kohl's Creates Value W/Predictive Analytics

Learn How First Insight's Predictive Tools Fuel Kohl's Success

As one of the world's leading omnichannel retailers with more than 1,100 stores in 49 states, Kohl's is leveraging First Insight's predictive analytics solution and voice-of-the-customer data to improve their business.

Watch the Webinar
Webinar

Consumer Sustainability Survey 2021

The First Industry-Wide Consumer Study On Shoe Sustainability

This industry-wide survey aims to create a critical baseline that brands and retailers can use to ensure they understand what consumers actually comprehend, what terms and phrases resonate best, and what areas they should prioritize.

Download the Webinar & Findings
Supply Chain & Pricing

Navigating Disruption

How The Rockport Company is Optimizing Assortments and Pricing with Data + Digital Product Testing

Learn how The Rockport Company created a new product playbook powered by the Voice of the Customer and predictive tools.

View the Webinar & Highlights

HIGHEST DEMONSTRATED ROI. GUARANTEED.

Unparalleled Value Delivery and Lowest Total Cost Provider


Our industry-leading platform takes your experience management operations from reactive to proactive. We empower you to create products, brands, and customer and employee engagement that deliver growth to both your top and bottom lines.