First Insight to Host Big Ideas Session at NRF 2013
Retail Industry Leaders Matthew E. Rubel, Mindy Meads, Mark Cohen and Nikki
Baird to Discuss How to Price New Products
NRF 102nd Annual Convention & EXPO
PITTSBURGH -- December 11, 2012
First Insight, the world’s leading solution provider empowering retailers and
manufacturers to introduce the right new products at the right price, today
announced its Big Ideas Session at National Retail Federation's (NRF's) 102nd
Annual Convention and EXPO. The panel will bring together four of the
industry’s leaders to discuss how today’s retailers can navigate the
challenges of everyday pricing strategies. First Insight’s Big Ideas Session
will take place Monday, January 14, 11:00-11:45am in Room 3D08, Expo Hall
Level 3 of the Javits Center in New York City. Retailers and manufacturers
registering on First Insight’s website by January 5 will receive a free EXPO
Hall pass and a free gift upon arrival at the session.
The panel, entitled “Everyday Low Prices? Promotions? Markdowns? How to Get
Entry Pricing Right,” will be moderated by Greg Petro, CEO of First Insight,
and will include four of the retail industry’s most influential leaders:
*Matthew E. Rubel - Senior Advisor of TPG Capital and former CEO of
Collective Brands and Cole Haan
*Mindy Meads - Wet Seal board director, former co-CEO of Aeropostale,
former CEO of Lands’ End, and previous Federal Reserve Bank board member
*Mark Cohen - Columbia GSB Professor and former CEO of Sears Canada,
Lazarus and Bradlees
*Nikki Baird - Managing Director of RSR Research and author of “Pricing in
a Post-Channel World”
Each of the panelists will offer their perspectives and lessons learned on
this important topic. According to Mindy Meads, “In a highly promotional
environment, the key to the value equation is having the right combination of
all three factors – fashion, quality and price.”
"Retailers must return to a value-based proposition to consumers,” added Nikki
Baird. “This means there is a lot more importance on the initial price,
because any retailer making a value argument about its prices is going to lose
credibility with consumers if it then has to run promotions or markdown items
because it didn't hit consumers' initial expectations."
First Insight is a Silver Sponsor of the NRF Conference, and is also
sponsoring the Virtual Golf Challenge, adjacent to First Insight’s booth #262.
Top prize is $40,000.
First Insight invites retailers, manufacturers, media, analysts, and other
attendees to visit them at the EXPO and pre-schedule a meeting in the
company’s conference room at booth #262. Please contact Brady Dolan at
Brady.Dolan@firstinsight.com or 724-759-7141.
About First Insight, Inc.
First Insight empowers retailers and manufacturers to drive new product
success by introducing the right products at the right price. Through the use
of online consumer engagements, the First Insight cloud-based solution gathers
real-time consumer preference and pricing data and applies a predictive model
to create actionable insights, which inform new product decisions. Companies
use the First Insight solution to select the most profitable new products for
improved sales, margins and inventory turnover. Implementing First Insight’s
predictive analytic solution gives retailers guidance for product design,
buying, assortment planning, pricing and marketing decisions. Customers
include leading department stores, specialty retailers and manufacturers. For
further information, please visit www.firstinsight.com.
Berns Communications Group, LLC
Michael McMullan/Danielle Poggi
First Insight, Inc.
Jim Shea, VP Marketing
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