Leading specialty store retailer The Limited is working with analytics firm First Insight and had good things to say about how the tech company is impacting business at it 262 stores.
“By using First Insight to identify more winning products and price them correctly, our business will continue to increase its speed to market with the right styles at the right price”, said Diane Ellis, CEO of The Limited. “The accuracy and scalability of the First Insight platform will drive our expanded approach to value delivery, including pricing and promotion.”
By partnering with First Insight, The Limited said it gains strategic investment guidance on thousands of new products and designs by engaging customers through online social engagement tools to gather real-time data on new products. This data is filtered through First Insight’s predictive analytic models to determine which products present the greatest opportunity, according to the companies.
In addition, First Insight’s solution enables The Limited to to evaluate a greater number of designs or products quickly to increase speed to market, calibrate inventory buys based on direct consumer input and predictive analytics and optimize pricing and allocation strategies.
“We are proud to be a part of The Limited’s continued success and to be extending our partnership,” said Greg Petro, president and CEO of First Insight. “First Insight’s mission is to empower retailers such as The Limited to increase their win rate through a fast, scalable solution that lets them make critical decisions with confidence.”