First Insight Listed as a “Sample Vendor” in Gartner’s “Hype Cycle for
Retail Technologies”, 2013
Solution is delivering 3-9% gains in sales and margin by providing investment
and pricing insight on new products
PITTSBURGH -- September 24, 2013
First Insight, Inc., a technology company transforming how leading retailers
make new product investment decisions, announced it was named in the “Hype
Cycle for Retail Technologies, 2013^1” report by Gartner Inc. - the world’s
leading information technology research and advisory company.
First Insight was named as a sample vendor in two categories – Customer
Centric Merchandising and Merchandising and Category Optimization – both with
a benefit rating of “High” when adopted by retailers.
The Gartner report states: “The traditional approach causes retailers to use
historical sales patterns, traditional retail performance measures and market
trends to drive merchandising activities.”
In contrast to these traditional approaches, the report contends that
“Customer-centric merchandising [now] gives retailers the capability to offer
better merchandise to local customers and to focus on desired customer
segments. This results in increased sales and margins, as well as better
The First Insight solution provides actionable inventory investment guidance
on new products by applying analytic models to feedback collected from online
consumer interactions. In regards to Merchandise and Category Optimization
solutions, the Gartner report emphasizes that “Ultimately, these technologies
will help stores achieve higher sales and margins in their local markets.”
“We are honored to be named in this Gartner report,” said Greg Petro,
President and CEO of First Insight. “In our work with retailers and brands, we
continue to deliver dramatic gains in sales and margin through improved
inventory investment and entry pricing. We believe our solution provides a
fast, scalable way to gain a forward view of expected new product
Gartner does not endorse any vendor, product or service depicted in its
research publications, and does not advise technology users to select only
those vendors with the highest ratings. Gartner research publications consist
of the opinions of Gartner's research organization and should not be construed
as statements of fact. Gartner disclaims all warranties, expressed or implied,
with respect to this research, including any warranties of merchantability or
fitness for a particular purpose.
About First Insight, Inc.
First Insight is the leading solution empowering companies to drive new
product success by introducing the right products at the right price. Through
the use of online consumer engagement, the First Insight solution gathers
real-time consumer preference and pricing data and applies predictive analytic
models to create actionable insights, which inform new product decisions.
Retailers and brands use the First Insight solution to design, select, price
and market the most profitable new products for improved sales, margins and
inventory turnover. Customers include leading department stores, specialty and
vertically integrated retailers, and manufacturers. For further information,
please visit www.firstinsight.com.
^1 Gartner “Hype Cycle for Retail Technologies, 2013”, July 18, 2013.
Berns Communications Group, LLC
Michael McMullan, (212) 994-4660
First Insight, Inc.
Jim Shea, Chief Marketing Officer, (724) 759-7141
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