Woolworths, a prominent South African retailer, has recently announced a strategic partnership with First Insight, a retail technology platform. This collaboration aims to utilise First Insight’s innovative solutions to gather valuable customer data and enhance merchandising decisions, particularly within Woolworths’ womenswear division.
“We are excited to be a global partner of Woolworths to help them leverage insights with the goal of serving their customers better,” says Greg Petro, CEO at First Insight. “Our proven data gives retailers and brands the insight and competitive advantage they need to offer their consumers better assortments at the right price.”
First Insight employs online social engagement tools to gather real-time customer preferences, pricing expectations, and sentiment data concerning potential product offerings. This information is then meticulously analysed using proprietary analytic models, which assist in identifying the products that present the greatest risk and opportunity.
“We are excited about our partnership with First Insight as their research and data will provide us with valuable insights, to better service our customer needs through a more targeted merchandise selection,” says Roxanne Gillan, Woolworths’ General Manager, Business Development and Innovation.
