New study reveals insights into how retailers and brands can best price products to meet demands and minimize risks.
First Insight Inc.’s latest research on price elasticity revealed opportunities across categories where price points could be nudged higher, which could result in better sell-through and higher margins.
The report, “Decoding Price Elasticity: Emerging Opportunities,” examined elasticity and price sensitivity across categories including women’s wear, men’s wear, children’s wear and home goods, using proprietary data over a two-year period from September 2017 to April 2019.
Through InsightSuite, the company’s predictive analytics platform, the study was able to cull trends on hundreds of thousands of items with no sales history to enable retailers and manufacturers to select and develop new products that resonate with consumers as well as to market items more effectively.
at WWD
