First Insight Listed as a Representative Vendor in 2022 Gartner® Market Guide for Retail Assortment Optimization Applications in Merchandising
First Insight helps brands and retailers maximize their reach, identify high-value and complementary products, and avoid underperforming assortments in a highly collaborative platform.
Pittsburgh, PA—June 17, 2022—First Insight, Inc., the world leader in Next-Gen Experience Management (XM) that is transforming how companies make better decisions leading to a sustainable future, today announced that it has been identified as a Representative Vendor in the 2022 “Gartner Market Guide for Retail Assortment Optimization Applications” report. Gartner named First Insight as a Representative Vendor in Retail Assortment Optimization Applications in Merchandising.
According to Gartner, “To be included in this Market Guide, the vendor must have live implementations of any one of the 12 merchandise optimization types, with unified commerce retailers having revenue greater than $1 billion.”
According to Gartner, “Retail Assortment Optimization Applications drive development of more tailored and precise assortments based upon demand forecasting that are likely to lead to reducing waste, while at the same time increasing sales and creating the potential to reduce consumer returns.” [1]
“We see our inclusion in this Gartner Market Guide report as continued validation of the business value we deliver to our hundreds of customers. Our platform empowers brands and retailers to gain valuable insight into the future performance of their assortments before orders are placed and products are manufactured,” said Greg Petro, CEO, First Insight. “We deliver predictive, actionable data on price and assortment optimization for the broadest customer reach and highest total sales and margins, helping retailers and brands realize greater sales with less inventory. We are pleased to have earned the recognition from a global firm such as Gartner.”
First Insight’s Customer-Driven Assortment Analysis solution recommends product assortments that significantly increase revenue and margin by extending customer reach. The recommendations build on First Insight’s proven product-level results to enable merchandisers, marketers, and product teams in a highly collaborative framework to simulate the performance of an entire assortment with various customer segments and personas. Users can see in real-time how the addition or removal of products affects the ability of the assortment to drive incremental reach across key targeted customer segments.
First Insight’s platform employs the latest proven technological components available, allowing for unlimited scale, seamless integrations with key business systems, unparalleled speed, and the newest advancements in security. The platform provides a proven, breakthrough solution that enables businesses to reduce inventories by 20 – 40% while driving higher sell-through, revenue, and predictable outcomes to achieve a measurable return on investment. This has been recognized by analyst firms worldwide.
Gartner clients can view the full report here.
[1] Gartner, “Market Guide for Retail Assortment Optimization Applications in Merchandising” by Jonathan Kutner and, Robert Hetu, June 7, 2022
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About First Insight
First Insight, the world leader in Next-Gen Experience Management (XM), is transforming how companies make better decisions leading to a sustainable future. Customers include some of the world’s leading vertically integrated brands, sporting goods companies, department stores, consumer products companies, mass merchant retailers and wholesalers.
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Media Contact:
Berns Communications Group
Michael McMullan
mmcmullan@bcg-pr.com
First Insight Contact:
Gretchen Jezerc
gretchen.jezerc@firstinsight.com
