First Insight, a global leader in Voice of the Customer (VoC) retail solutions, announced that it has been identified as a Representative Vendor in Gartner’s 2024 Market Guide for Retail Assortment Management Applications: Short Lifecycle Products.
First Insight provides a Voice of Customer platform, InsightSUITE, which generates actionable consumer insights for design concepts, new products, assortments, and marketing initiatives to inform selection, rationalization, pricing, buying, and conversion decisions.
We believe, this latest recognition showcases First Insight’s continued influence and innovation in the retail technology landscape, with solutions designed to support more effective assortment decisions for short lifecycle products, such as apparel, footwear, and seasonal items. By leveraging customer insights powered by AI, First Insight helps retailers and brands improve product sell-through, minimize markdowns, and optimize profitability.
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“We are proud to be recognized by Gartner once again,” said Greg Petro, CEO of First Insight. “Retailers are facing unprecedented challenges in managing short lifecycle products, where having the right tools and data can make or break a season. First Insight’s solutions empower our partners to not only react to market changes but anticipate them, all while aligning more closely with their customers’ values.”
According to Gartner, “Retail assortment management applications enable intelligent curation of short lifecycle products, aligning them more closely with consumers’ values.” First Insight’s unique approach combines predictive analytics with VoC data, allowing retailers to move beyond traditional, manual assortment processes and deliver targeted selections that resonate with shoppers, driving both engagement and margin.
Major retailers and brands around the world have improved their product success rates, line productivity, inventory levels, and margins by optimizing their decisions about next season’s items with first-hand feedback from their target consumers. Unlike other market data sources and research tools that leverage historical and current information to predict high-level trends, demand, and pricing, InsightSUITE digitally engages targeted consumers and provides actionable, predictive decision-making data within a day.
SOURCE: First Insight