News

TradeStone, First Insight bring social media to the product design process

June 8, 2010

TradeStone Software, developer of solutions that unify the design, sourcing, ordering and delivery of private label and branded goods, and First Insight, a leader in consumer insights, have announced a strategic partnership to bring consumer influence through social media into the retail design cycle.

According to the companies, this represents the first-ever use of advanced, consumer-focused, social media "gaming" technology and techniques in the retail supply chain.

The two software companies are working together on an initiative that will give designers real-time data on trends, product attributes and demand through various online networks, including social media sites such as Twitter, Facebook and MySpace.

TradeStone’s retail customers will gain the use of First Insight’s patented predictive analytics for an early view of perceived customer value, sentiment and pricing options, giving them reliable guidance to make decisions related to item selection, trend identification, category management, targeted pricing and regional merchandising.

As a result of the partnership, retailers will be able to collect customer feedback in as little as 48 hours, providing a unique ability to guide decisions on what products, designs and attributes to source and produce.