“InsightIQ Sentiment” will help retailers gain actionable, revenue-driving insights to align product design, assortment, and marketing with evolving consumer preferences.
Pittsburgh, PA—October 2, 2024— First Insight, Inc., a global leader in Voice of the Customer (VoC) retail solutions, today announced the launch of "InsightIQ Sentiment", a cutting-edge Generative AI-powered solution designed to transform how retailers, brands, and manufacturers analyze consumer feedback at scale. This powerful tool 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.
“Generative AI is reshaping how retail leaders make critical product and design decisions,” said Greg Petro, Chief Executive Officer of First Insight. “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 empowers retailers to uncover not just what consumers think, but more importantly, the reasons behind their preferences and behaviors. As consumer expectations shift rapidly, this tool offers deeper clarity, revealing the actionable insights needed to stay ahead of competitors. By tapping into these insights, retailers 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.
Key Features of InsightIQ Sentiment:
- AI-Powered Feedback Summarization: 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.
- Aspect-Based Sentiment Analysis: Digs deeper into product attributes—such as material, fit, color, or style—to highlight the most critical areas for improvement or innovation. This analysis also uncovers emerging trends that can inform future product designs and marketing strategies.
- Automated Comment Translation: Simplifies the process of analyzing feedback from multiple regions for global retailers by automating comment translations. This feature helps brands understand customer sentiment across diverse markets, enabling more refined product adjustments.
Revolutionizing Retail with Generative AI
Retailers today face unprecedented challenges in adapting to rapidly shifting consumer preferences. InsightIQ Sentiment harnesses the power of Generative AI to transform unstructured feedback—like product commentary and open-ended responses—into precise, actionable insights. By analyzing this qualitative data, the tool reveals valuable trends, emerging consumer preferences, and opportunities for product innovation, allowing retailers to stay ahead of market changes and take data-driven action faster.
Real-World Application
A retailer may discover 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. Using InsightIQ Sentiment, the retailer can enhance future product designs by improving 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.
With InsightIQ Sentiment, First Insight delivers a powerful combination of AI and consumer insights, catalyzing transformational changes for retailers, brands, and manufacturers. The platform unlocks the power of customer data to drive profitability, improving decision-making in areas such as product design, pricing, assortment planning, and marketing messaging.
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About First Insight
First Insight is the global leader in Voice of the Customer retail solutions, transforming business decision-making through actionable consumer insights and AI. First Insight’s platform enables retailers and brands worldwide to boost revenues and profitability by informing strategic decisions with consumer data and removing guesses and personal opinions. Trusted by leading retailers, vertically integrated brands, mass merchant retailers, and wholesalers, First Insight leads in optimizing strategy, product, pricing, planning, and marketing decisions. For further information, visit www.firstinsight.com.
Media Contact:
Berns Communications Group
Michael McMullan
mmcmullan@bcg-pr.com
First Insight Contact:
Viki Zabala
Viki.Zabala@firstinsight.com
