Getting Out in Front of Customer Demand Through Product Testing

Featured Image

Customer demand is becoming more unpredictable by the minute, putting retailers on the defensive as they try to understand how to optimize their product merchandise offering, services and experiences. In today’s world, to get the supply and demand equation right, retailers must generate as much data as possible from product testing.

“They need to rely on data to anticipate as opposed to react,” said Greg Petro, CEO and founder of First Insight. “The winners will anticipate. And the anticipation is the challenge. You can’t rest on a historical data point at this stage or leverage intuition to a large degree. It does not make sense economically any further.”

First Insight, a technology provider that helps retailers and brands use “voice of the customer” feedback to improve product design, pricing, planning, merchandising and marketing, has dealt firsthand with customer data across the apparel and footwear spectrum, with customers ranging from Wolverine Worldwide to rue21 to Marks & Spencer and Kohl’s, alongside a collection of other consumer products brands, mass merchant retailers, manufacturers and wholesalers. So it knows the challenges that brands face in getting the right products to the right consumers at the right time.

Read the Full Articleand Watch the Video Interview at Sourcing Journal

pricing  predictive analytics  Merchandising  Customer Experience  customers  product testing  voice of the customer  Assortment Planning  digital product testing  Voice of Customer Analytics  product design  Experience Management  Customer Experience Management  Brand Experience  Product Experience  Employee Experience  Product XM  Employee XM  Customer XM  Brand XM  Next-Gen XM  consumer demand

Looking for more info? Complete the form below.

The Supply Chain Disruption
The Wharton Baker Retailing Center

What Retail Executives Say About Supply Chain Disruption: Shortages, Pricing and Delays

We partnered with The Wharton Baker Retailing Center to create a comprehensive infographic exploring our findings.

View the Infographic
The State Of Consumer Spending
The State Of Consumer Spending

The State Of Consumer Spending: Gen Z Influencing All Generations To Make Sustainability-First Purchasing Decisions

We partnered with The Wharton Baker Retailing Center and asked consumers in the U.S. how sustainable practices are impacting shopping habits and purchase decisions.

Read the Report
InsightSuite for Small Business
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
Maximize Value, Speed and Profit
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
Kohl's Creates Value W/Predictive Analytics
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
FDRA Consumer Sustainability Survey
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
Navigating Disruption
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
HOTTER SHOES
Case Study

HOTTER SHOES ATTRACTS YOUNGER AUDIENCE VIA ‘VOICE OF CUSTOMER’ ANALYTICS

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