First Insight

The Pricing Disconnect Between Senior Retail Executives and Consumers
November 15, 2018 at 4:45 pm

First Insight surveyed consumers and senior retail executives on consumer shopping habits, purchase behavior and influences driving decisions. The surveys revealed that while quality of products is most important to consumers, pricing plays a significantly more important role in how consumers make purchase decisions than senior retail executives realize.

Product Quality Trumps Price for Consumers, Study Finds
July 26, 2018 at 12:17 pm

As brands and retailers endeavor to unlock the mystery surrounding consumers’ shopping habits and behaviors, the question of product quality vs. price comes into sharper focus. According to recent research from technology company First Insight, consumers are increasingly choosing quality. In fact, 53 percent of consumers who responded to a First Insight survey said product quality was the…

Mind the Gap: The Gender Effect on Shopping Habits and Technology Disruptors
April 20, 2018 at 4:21 pm

First Insight conducted a consumer survey examining retail industry disruptors that could be driving shopping behaviors and purchase decisions. Results revealed a significant gender gap between how men and women shop and make purchase decisions, as men are less likely to embrace disruptors such as mobile shopping,, discount retail and AI.

Decoding Price Elasticity to Unlock Revenue and Minimize Risk
November 8, 2017 at 11:15 am

It’s no secret that there has been a shift in shopping behavior due to growth in millennial spending power, aging of baby boomers and the growth of online shopping. These changes are impacting pricing and demand, and are creating a disconnect for retailers and brands between what they're charging and how much consumers will actually…

Decoding Price Elasticity to Unlock Revenue and Minimize Risk
November 1, 2017 at 4:52 pm

First Insight examined pricing and elasticity trends on over 90,000 items processed through InsightSuite — the company’s predictive analytics platform which enables retailers and manufacturers to select, price, market and buy new products with no sales history — between September 2015 and August 2017, along with other proprietary data sources. Using its proprietary data on the elasticity of demand, First Insight calculated average price elasticity and the change in elasticity by category and subcategory over the last two years. Categories included womenswear, menswear, children's wear and home goods across North America and Europe.