WWD Mentions First Insight | First Insight Launches AI-powered InsightIQ Sentiment to Look Deeper Into Customer Preferences
First Insight Inc.’s Voice of the Customer retail solution has become a valuable tool for retailers and brands to unlock the consumer mindset regarding product preferences and other sentiments. Now the company is rolling out a generative AI-powered solution that will help retailers and brands sift through customer feedback in a bigger way.
First Insight described InsightIQ Sentiment as “a cutting-edge generative AI-powered solution designed to transform how retailers, brands and manufacturers analyze consumer feedback at scale.” The company said the solution “delivers deep, actionable insights, enabling retail teams to make smarter, faster decisions across product assortment, design and marketing strategies by linking consumer sentiment directly with product value scores.”
One of the key features of InsightIQ Sentiment includes an “AI-Powered Feedback Summarization” tool, which the company said “quickly captures the key points from customer feedback and summarizes sentiment, allowing retailers to take fast, targeted actions to improve product performance or amplify positive trends.”
Greg Petro, chief executive officer of First Insight said generative AI is reshaping how retail leaders make product and design decisions and said with InsightIQ Sentiment, “we are empowering retailers to not only address product underperformance but also uncover hidden gems in consumer feedback. This tool enables merchants to take smarter, more profitable actions that drive margin improvements, sell-through and customer satisfaction.”
InsightIQ Sentiment not only reveals what customers think about products, but uncovers the reasons for their preferences. “As consumer expectations shift rapidly, this tool offers deeper clarity, revealing the actionable insights needed to stay ahead of competitors,” First Insight said, adding that by leveraging these insights, retailers and brands “can fine-tune their product offerings, optimize assortments and create marketing campaigns that align more closely with customer desires, ultimately driving stronger engagement and profitability.”
The impetus behind launching InsightIQ Sentiment is seeded in the “unprecedented challenges” facing retailers and brands concerning shifting consumer preferences and demands, First Insight said noting that the solution “harnesses the power of generative AI to transform unstructured feedback — like product commentary and open-ended responses — into precise, actionable insights.” When analyzed, the data spotlights trends, new consumer demands and opportunities to create more product innovation.
For example, the company said a retailer may learn that a product with a low-value score “is receiving negative feedback regarding its fabric quality but is praised for its design and color scheme.” By using InsightIQ Sentiment, the retailer can then make improvement to the materials while preserving the popular design features. “Additionally, the tool could reveal unexpected consumer preferences, such as an emotional connection to a brand’s heritage or a growing demand for sustainable materials, helping retailers build more impactful and relevant product lines,” the company said.
Read article on WWD.
