Technology

Fashion retailers team with First Insight to drive faster, better merchandising decisions

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October 13, 2020

Fashion brands Burton Menswear, Dorothy Perkins and Miss Selfridge are partnering with First Insight Inc. and using its predictive analytics technology to boost product design testing and drive faster and better merchandising decisions.

The brands participated in a proof of concept prior to teaming up with First Insight, according to a press release.

"First Insight enables us to reduce our reliance on historical sales data and store testing by instead placing our customers at the heart of our decisions by directly asking them about new products before we go to market. We can then use those insights to make faster and better merchandising decisions," John Kenchington, Dorothy Perkins, Burton Menswear and Miss Selfridge multichannel director, said in the release.

First Insight uses online social engagement tools to gather real-time customer preference, pricing and sentiment data on potential products. The information is filtered through predictive analytic models to determine which products present the greatest opportunity.

"Knowing and understanding the customer is the only way retailers and brands can stay ahead in today's ever-changing retail landscape," Greg Petro, CEO and founder of First Insight founder and CEO, said in the release. "We're excited to partner with the Dorothy Perkins, Burton Menswear and Miss Selfridge brands to enable them to capture and leverage customer insights at every step of the product development and merchandising process. By incorporating the voice of the customer, the brands can be sure they are making optimal decisions about selecting the right range of products to bring to market."