The weekly Retail Tech Roundup compiles technology news across the supply chain, manufacturing, retail, e-commerce, logistics and fulfillment sectors.
First Insight, a retail predictive analytics provider of technology that helps make product investment and pricing decisions, has expanded its partnership with John Lewis & Partners. The announcement follows a successful validation test program that John Lewis conducted across its fashion and home categories.
The initial pilot enabled John Lewis to improve buy depths and optimize assortments in its women’s wear and home categories. In addition, First Insight’s testing revealed insights about raw materials: the company discovered strong customer preferences on bedding fabric content and leveraged those insights in finalizing their line.
First Insight uses online social engagement tools that gather real-time preference, pricing and sentiment data on potential product offerings. The information is filtered through First Insight’s predictive analytics models to determine which products customers like best.