Home / Knowledge / News / Information Technology / First Insight's predictive testing solution for PacSun
First Insight's predictive testing solution for PacSun
17
Jan '12
First Insight Inc, a technology company providing leaders in the retail industry with a predictive analytic consumer testing solution, announced an agreement with Pacific Sunwear of California Inc, a leading specialty retailer rooted in the action sports, fashion and music influences of the California lifestyle.

First Insight will provide consumer-driven analytics intended to help Pacific Sunwear make faster and more accurate design, buying and pricing decisions, thereby reducing markdowns and mitigating risks associated with new product introductions. Terms of the deal were not disclosed.

In partnering with First Insight, Pacific Sunwear is seeking to gain strategic investment guidance on thousands of new products and designs. As part of this agreement, First Insight will engage Pacific Sunwear customers through online social engagement tools to gather real-time preference, pricing and sentiment data on new product groups. This information will be filtered through First Insight's predictive analytic models to determine which products present the greatest opportunity.

First Insight's solution is designed to enable retailers such as Pacific Sunwear to:

•Evaluate a greater number of designs or products quickly, increasing speed to market.
•Calibrate inventory buys based on direct consumer input and predictive analytics.
•Optimize pricing and allocation strategies to maximize ROI.

Greg Petro, CEO and founder of First Insight, commented, “We are thrilled to partner with Pacific Sunwear. Our mission is to provide retailers such as Pacific Sunwear with a fast, scalable solution that lets them leverage customer feedback and predictive analytics to make product decisions with confidence.”

“In this consumer-driven economy, the need to understand customer demand is critical,” said Charlie Mescher, Senior Vice President of Mens' at Pacific Sunwear. “After evaluating several commercial options, we chose First Insight based upon the potential of their platform's ability to provide superior speed, scalability and predictability.”

First Insight Inc is the leading predictive analytic consumer testing solution that retailers use to select the most profitable new products for improved sales, margins and inventory turnover.

Pacific Sunwear of California Inc and its subsidiaries (collectively, "PacSun" or the "Company") is a leading specialty retailer rooted in the action sports, fashion and music influences of the California lifestyle.

First Insight Inc

Must ReadView All

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Apparel/Garments | On 19th Jan 2017

Asahi Kasei to display sustainable fibre at trade shows

Asahi Kasei, specialty Japanese fibre producer, will be displaying...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search