Wholesale: Increase Sales and Reduce Vendor Allowances Through Analytics
First Insight and Keith Duplain, SVP & General Manager at Caleres discuss how wholesalers such as Caleres are using forward-looking analytics to incorporate the voice of the retailer's customer into assortment mix decisions.
Identify which products will resonate the most with each retailer's customers
Understand how predictive analytics are creating a positive impact for Caleres
Learn how to incorporate the voice of the retailer's customer into assortment mix decisions to significantly improve results for wholesalers and retailers.
Highlights from the Webinar Session
BRIDGING THE GAP BETWEEN HISTORICAL DATA AND CURRENT CUSTOMER SENTIMENT
"We have historical data and trend data, but there still seemed to be a missing piece — what was going on in the consumer’s mind today. We needed to put this in the mix to help make better decisions."
THE CHALLENGE OF TRADITIONAL TESTING WITH SEASONAL PRODUCTS
"We had to make sure whatever data we collected became actionable for the organization. So many of our [tactics] are opinion-based; we wanted something people could believe in."
THE VALUE OF SCALABLE SOLUTIONS IN LARGE MARKETS
"As wholesalers, we had to be able to assess a large portion of our population — we needed something easy to implement, easy to understand and cost-effective... which led us down the pathway to First Insight."
CUSTOMER SENTIMENT PROVIDES VALUABLE INSIGHT INTO PRODUCTS
"One of the most beneficial [features] has been consumer comments. The frequency of certain buzzwords... allows us to examine the comments, then make changes based what [consumers] loved or didn't love about [the products]."
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