First Insight has released ElastiCast, a solution designed to enable retailers to forecast price elasticity of new products to determine optimal prices and increase margins.

By collecting consumer data and processing it through First Insight’s proprietary algorithms, ElastiCast enables merchants, planners and marketers to analyze various pricing scenarios and predict how consumers will react to different price points throughout the product’s lifecycle — from initial pricing to markdowns to clearance. These results enable retailers to see the distribution of demand before they go to market, so they can set prices based on data.

Read the Full Article at Retail TouchPoints

March 9 2018 by Retail Touch Points

press release price elasticity elasticast Overview-Press

What Retail Executives Say About Supply Chain Disruption: Shortages, Pricing and Delays

We partnered with The Wharton Baker Retailing Center to create a comprehensive infographic exploring our findings.

View the Infographic

The State Of Consumer Spending: Gen Z Influencing All Generations To Make Sustainability-First Purchasing Decisions

We partnered with The Wharton Baker Retailing Center and asked consumers in the U.S. how sustainable practices are impacting shopping habits and purchase decisions.

Read the Report

InsightSuite for Small Business

Specialized Tools for Small & Emerging Businesses

The fastest and most cost effective way to increase sales, profits and sell-in for growing businesses and digitally native brands.

Learn more

Free Ebook

Maximize Value, Speed & Profit

Learn how to leverage Voice of the Customer Analytics and 3D Product Creation to make more profitable products, faster.

Get the Free E-book

Roundtable Video

Kohl's Creates Value W/Predictive Analytics

Learn How First Insight's Predictive Tools Fuel Kohl's Success

As one of the world's leading omnichannel retailers with more than 1,100 stores in 49 states, Kohl's is leveraging First Insight's predictive analytics solution and voice-of-the-customer data to improve their business.

Watch the Webinar

Webinar

Consumer Sustainability Survey 2021

The First Industry-Wide Consumer Study On Shoe Sustainability

This industry-wide survey aims to create a critical baseline that brands and retailers can use to ensure they understand what consumers actually comprehend, what terms and phrases resonate best, and what areas they should prioritize.

Download the Webinar & Findings

Supply Chain & Pricing

Navigating Disruption

How The Rockport Company is Optimizing Assortments and Pricing with Data + Digital Product Testing

Learn how The Rockport Company created a new product playbook powered by the Voice of the Customer and predictive tools.

View the Webinar & Highlights

Case Study

HOTTER SHOES ATTRACTS YOUNGER AUDIENCE VIA ‘VOICE OF CUSTOMER’ ANALYTICS

While the Covid-19 pandemic hit most retailers hard, it created uniquely intense challenges for Hotter Shoes. Hotter needed to build up its e-commerce presence and appeal to a new group of shoppers at the same time.

Read the Case Study

First Insight Introduces ElastiCast Pricing Optimization Platform

What Retail Executives Say About Supply Chain Disruption: Shortages, Pricing and Delays