Publish Date : 27-Jul-2012
First Insight, Inc., a technology company transforming how leading retailers make new product investments and pricing decisions, today announced an agreement with The Limited, an iconic fashion retailer that offers high-quality, private- label apparel designed to help the modern woman succeed. First Insight provides predictive analytics generated from online consumer engagements which help retailers make faster and more accurate buying and pricing decisions for new products. Terms of the deal were not disclosed.
The First Insight solution uses online social engagement tools to gather real-time preference, pricing and sentiment data on new products. This information is filtered through First Insight’s predictive analytic models to determine which products present the greatest opportunity.
First Insight’s solution enables retailers to:
1) Evaluate thousands of designs or products quickly, increasing speed to market and reducing in-store testing costs.
2) Calibrate inventory buys based on direct consumer input and predictive analytics.
3) Determine optimal entry price points and forecast average unit retail (AUR) prices.
About First Insight, Inc.: First Insight is the leading solution for providing inventory investment and pricing guidance for products that are new to retail assortments. Through the use of online consumer engagements, the First Insight solution gathers real-time consumer preference and pricing data and applies a predictive model to create actionable insights, which inform new product decisions. Retailers use the First Insight solution to select the most profitable new products for improved sales, margins and inventory turnover. With the use of First Insight data, retailers gain a forward-looking view of customer demand and merchandise profitability. Implementing First Insight’s predictive analytic solution gives retailers guidance for product design, buying, assortment planning, pricing and marketing decisions. Customers include Fortune 500 companies, including leading department stores, specialty retailers and footwear companies.
About The Limited - Based in Columbus, Ohio, The Limited, an affiliated portfolio company of Sun Capital Partners, Inc., is well-known as the store concept that began mall-based specialty retailing as we know it. Drawing on almost 50 years of presence in American shopping centers, The Limited is an iconic fashion retailer that offers high-quality, private-label apparel designed to help the modern woman succeed. Design-driven, fashionable styles include suits and business separates, sweaters, dresses, denim, outerwear, and accessories to suit her lifestyle demands, from workday to weekend. The Limited has approximately 250 mall locations throughout the United States.
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