The technology is used to choose the right merchandise at the "right price point," the companies said.
Tween retailer Justice, part of the Ascena Retail Group Inc., has extended its deal with First Insight for use of its InsightSuite, which is the technology company’s predictive analytics platform. Terms of the agreement were not disclosed.
Jason Judd, senior vice president of finance and chief financial officer of Justice, said tween segment is “fast-moving, and historical data often does not provide an accurate view as to the products our customers will want, or the prices they will pay next season.” Judd said the First Insight solution is helping the retailer do a better job of picking products as well as “pricing them right from the outset.” He added that the solution adds to the bottom line.
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