The PennZone

PITTSBURGH--(BUSINESS WIRE)--First Insight announced today that it has launched new price optimization software that will support retailers and brands with one of greatest challenges they face in today's economic environment. In a recent report, First Insight and WWD found that 40% of retail executives revealed that, in the face of ongoing business challenges, pricing was the one area within their control. Pricing far outweighed other critical business priorities including inventory investment; inventory and supply chain logistics; customer retention and acquisition; store operations and labor; and last mile logistics. Furthermore, 60% of retail executives believe that Voice of Customer and analytics software like First Insight's ground-breaking Price Optimization Solution is important or very important to their businesses.

First Insight's Price Optimization Software is unique in its unlocking of the power of Voice of Customer data and offers retailers and brands the data they need to determine optimal opening price, promotional pricing and markdown price points for products while also gathering specific product feedback from their customers.

More on The PennZone

• Dominican Fashion Designer Raiza Bonaparte presents the Sovereign Despampanante Collection at the Library of Congress
• Roohid Parast on How AI Is Changing What Bench Scientists Can Do
• What Happens When Congress Says No? New Book Examines the Boland Amendments, Iran-Contra Affair & Jamaican Posse, as US Congress Debate Over Military
• Warm, Dry Summer Forecast Points to a Stronger Wasp and Yellowjacket Season Across the Pacific Northwest
• Qscription Technologies Appoints Anurag Velekkatt Sunil Kumar to Drive Enterprise Scale

"Getting pricing right can make or break a month, a season, a business or a career and protecting margins is one of retailers' top priorities for 2023," said Greg Petro, CEO, First Insight. "One factor that the C-Suite ultimately can control even after all decisions have been made is price. The more an executive understands how product sales change with price for their company; the more power they have in controlling their own outcome."

First Insight's price optimization software allows retailers and brands to effectively determine price points for products in real time through an easy to use, intuitive interface. The software is a cloud-based, SaaS solution that can be used immediately to drive position impact to a company's sales and gross margin. The solution allows businesses to mitigate unknown or unforeseen risks such as supply chain disruptions and rampant inflation. With powerful and proven analytics, First Insight's price optimization solution supports retailers with data to help them land on ideal pricing and remain competitive throughout the entire product lifecycle including liquidation.

Read the full report, The Inflation Disconnect Between Retail Executives and Consumers, here.

More on The PennZone

• SafeBets Named Presenting Sponsor of IMCX 2026, Bringing Its No-Deposit Prediction Platform to the Creator Economy's Deal-Making Conference
• Turnstone Creative's Ashley Russo Serves as Emcee for United Way's 2026 NERC and Women's Summit
• A New Pulse for Cardiac Care in Baltimore: St. Elizabeth Rehab & Nursing Welcomes Dr. Hakim Uqdah and Expands Advanced Heart Program
• Lighthouse 153 Brings Fresh Seafood, Craft Beer, and Coastal Charm to Downtown Hanover This Summer
• Inframark–Slater Joint Venture Selected to Manage Fulton County Wastewater Operations

For a deeper dive into First Insight's new price optimization software and its benefits, download First Insight's ebook, The Ultimate Guide to Price Optimization Software, here.

About First Insight

First Insight, the world leader in Next-Gen Experience Management (XM) for Retail, is transforming how companies make better decisions. Customers include some of the world's leading retailers, vertically integrated brands, department stores, consumer products companies, mass merchant retailers and wholesalers. For further information, please visit www.firstinsight.com.

Contacts

Berns Communications Group
Michael McMullan
mmcmullan@bcg-pr.com

---

Show All News | Disclaimer | Report Violation