ROCKFORD, Mich. & PITTSBURGH--(BUSINESS WIRE)--Through a new global strategic partnership with First Insight, Wolverine Worldwide, one of the world’s leading marketers and licensors of branded footwear and apparel, will be able to further leverage data in its product decision making process, enabling its portfolio of 12 brands to increase speed-to-market, sell-in, sell-through and reduce markdowns.
To accomplish this, Wolverine Worldwide has integrated First Insight’s Voice of the Customer predictive analytics solution across its portfolio, which includes Merrell, Sperry, Hush Puppies, Saucony, Wolverine, and Keds.
“Wolverine Worldwide is a global business managing multiple brands, so it’s crucial that the company has the best data available to understand how its consumers’ needs and preferences vary by market,” said Greg Petro, CEO of First Insight. “Our platform enables Wolverine Worldwide to unearth the kinds of consumer insights that help brands optimize their product development, merchandising, and assortments, leading ultimately to greater profitability.”
First Insight created the first digital product testing solution in 2007, enabling brands and retailers to combine the voice of their customers with advanced AI and predictive analytics to reduce risk in their assortments, focus on winning products and improve their pricing strategies. Predictive feedback from consumers can be delivered in 24–48 hours, helping hundreds of brands and retailers bring the right products to market at the right price and in the right quantities.
Lindsey Goodman, Director of Consumer Insights for Wolverine Worldwide, said the company chose First Insight from a number of solutions based on its scalability and ability to deliver measurable ROI.
“With the guidance and support of First Insight’s Key Account Management team, we have been able to leverage robust consumer demand data to increase product confidence, leading to higher sales at sell-in,” said Goodman. “Wolverine Worldwide is viewing the current COVID-19 crisis as a catalyst to leverage customer research and accelerate our digital transformation to emerge better and stronger than ever.”
Kate Pinkham, Global General Manager and Vice President of Wolverine Worldwide’s Hush Puppies brand, said First Insight’s testing, consumer insights and analytics have helped drive sales for the brand internationally.
“First Insight has helped us to better understand our international consumer desires, enabling us to optimize our global product offerings,” said Pinkham. “Additionally, by testing with different regions and leading with the winners, we are able to build confidence and increase sell-in with our international partners. With First Insight’s tools, we’re able to innovate faster and ensure our global partners are aligned on product, price points and marketing.”
About First Insight, Inc.
First Insight is the world’s leading digital product testing and decision-making platform that empowers retailers and brands to incorporate the Voice of the Customer into the design, pricing, planning, and marketing of new products. Through the use of online consumer engagement, the First Insight solution gathers real-time consumer data and applies predictive analytic models powered by machine learning and AI to create actionable insights, which drive measurable value. Retailers, manufacturers and brands use the First Insight solution to design, select, price, plan and market the most profitable new products for reduced markdown rates and improved sales, margins and inventory turnover. Customers include some of world’s leading vertically integrated brands, sporting goods companies, department stores, mass merchant retailers and wholesalers. For further information, please visit www.firstinsight.com.
About Wolverine Worldwide
Founded in 1883 on the belief in the possibility of opportunity, Wolverine World Wide, Inc. (NYSE:WWW) is one of the world’s leading marketers and licensors of branded casual, active lifestyle, work, outdoor sport, athletic, children's and uniform footwear and apparel. Through a diverse portfolio of highly recognized brands, our products are designed to empower, engage and inspire our consumers every step of the way. The company’s portfolio includes Merrell®, Sperry®, Hush Puppies®, Saucony®, Wolverine®, Keds®, Stride Rite®, Chaco®, Bates®, and HYTEST®. Wolverine Worldwide is also the global footwear licensee of the popular brands Cat® and Harley-Davidson®. Based in Rockford, Michigan, for more than 130 years, the company's products are carried by leading retailers in the U.S. and globally in approximately 170 countries and territories. For additional information, please visit our website,www.wolverineworldwide.com.
First Insight Contact:
SVP of Marketing
Wolverine Worldwide Media Contact:
Lambert & Co.
Valerie Pesonen 616-258-5769