Trending...
- IRF Builders Forum Brings Global Leaders to Washington, D.C. to Advance Religious Freedom Through Cooperative Engagement
- Suzanne Harp named Managing Director in Texas, USA
- Penn Mutual Earns 2025 Great Place To Work Certification™
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
"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
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
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
- Lore Link is Here to Help Organize Your Game
- Chappaqua's Annual Townwide Summer Sale – Unbeatable Savings at Your Favorite Local Boutiques!
- Skyline Partners with ZenSpace to Offer Private Meeting Pods for Trade Show Exhibitors
- VIP Vacations Honored as One of the Top 25 Group Accounts for Classic Vacations for 2024
- DICK'S Sporting Goods Announces DICK'S Deal Days, a Four-Day Summer Savings Event
"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
- AI Innovation Dual-Strategy Business Model Focused on Real Estate Development for Strategic Expansion: OFA Group, (N A S D A Q: OFAL)
- Construcción del Corredor Norte–Sur (NSC) de Singapur
- New Report: Slip and Fall Accidents Rank as the Leading Cause of Construction Site Fatalities
- Get Your Cowboy Boots On! Causeway Country BBQ Music Festival Kicks Off September 12–14 in Ft. Pierce
- Retired Hobbyist Launches Bold Weekly Album Project Using AI Songwriting Tools
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
Filed Under: Business
0 Comments
Latest on The PennZone
- INVESTIGATION ALERT: Berger Montague PC Investigates Aflac, Inc.'s Board Of Directors For Breach of Fiduciary Duties (NYSE: AFL)
- AI-Based Neurotoxin Countermeasure Initiative Launched to Address Emerging National Security Needs: Renovaro, Inc. (N A S D A Q: RENB)
- The Naturist World Just Shifted — NaturismRE Ignites a Global Resurgence
- $796,000 in Q2 Revenue Marks Highest Earnings to Date on 3 Trailing Quarters of Profitability in Multi-Billion Homebuilding Sector: Stock Symbol: IVDN
- Cybersecurity is THE Hot Market Sector; Revenues, Earnings & Profit matter; Only 33 Million Shares + a Huge Short Position Equal an Undervalued Stock
- Despite Global Calls for a Ban, US Child Psychiatry Pushes Electroshock for Kids
- BeyondTrucks CEO Wins Gold Stevie® Award for Best Entrepreneur in Transportation
- Franco Polished Plaster Celebrates 35 Years of Bringing Walls to Life in the UK
- Spartan & Guardians Partner with Guitar Legend Buckethead to Support Global Child Rescue Efforts
- C8C.AI Launches Audio Compliance Engine to Streamline Ethical AI Audio Data at Scale
- Preliminary.online Introduces Short-Term Job-Readiness Courses with Employer-Verified Certifications
- Psychologist-Turned-Hermeticist Releases Modern Guide to the Seven Hermetic Principles
- Winners Announced for Asia Pacific Business Awards 2024-2025
- Medwave Recognized Among Top 10 Medical Billing Companies in USA by MedicoLeads
- Hamvay-Lang and Lampone.hu Join Forces with AIMarketingugynokseg.hu to Elevate Hungarian Lifestyle Brands on the Global Stage
- Why HVAC Cleaning Is So Important In Philadelphia
- Google AI Quietly Corrects the Record on Republic of Aquitaine's Legal Sovereignty
- NYC Leadership Strategist Stacie Selise Launches Groundbreaking 4S Framework Series to Redefine Executive Excellence
- Make Innovation Matter: Support H.R.1's R&D Expensing Relief for American Small Businesses
- Agreement to Supply US-Based Defense Provider with Thin-Film Solar Tech for Orbital Application; Ascent Solar Technologies, Inc. (N A S D A Q: ASTI)