First Insight examined pricing and elasticity trends on hundreds of thousands of items tested between September 2017 and April 2019 through InsightSuite, the company’s predictive analytics platform which enables retailers and manufacturers to select, price, market and buy new products with no sales history. Retail categories included womenswear, menswear, childrenswear and home goods across North America and Europe.
The new results found that elasticity and price sensitivity are falling in every category including womenswear, menswear, childrenswear and home goods when compared to First Insight’s previous study published in 2017, unveiling many opportunities for retailers to leverage through increased pricing.
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First Insight, Inc.
2000 Ericsson Drive, Suite 200 Warrendale, PA 15086-6507