The Two Retailers Are Using Predictive Analytics to Make Informed Design and Buying Decisions
LONDON--(BUSINESS WIRE)--Dorothy Perkins & Burton Menswear, part of the Arcadia Group, and First Insight, Inc., the world’s leading technology company transforming how companies make product investment, pricing and marketing decisions, today announced their new partnership. Using First Insight’s consumer-driven predictive analytics, both retailers will now be able to operationalise product testing across both Dorothy Perkins and Burton Menswear, allowing them to make faster and better merchandising decisions.
“Knowing and understanding the customer is the only way retailers and brands can stay ahead in today’s ever-changing retail landscape,” said Greg Petro, CEO and founder of First Insight. “We’re excited to partner with the Dorothy Perkins and Burton brands to enable them to capture and leverage customer insights at every step of the product development and merchandising process. By incorporating the voice of the customer, the brands can be sure they are making optimal decisions about selecting the right range of products to bring to market.”
First Insight uses online social engagement tools to gather real-time customer preference, pricing and sentiment data on potential product offerings. The information is filtered through First Insight’s predictive analytic models to determine which products present the greatest opportunity. The solution is enabling both retailers to increase their speed to market and inform faster and better merchandising assortment decisions.
“After completing a thorough proof of concept with First Insight, during which we quantified the margin gain opportunity, we have taken the decision to operationalise First Insight’s product testing capabilities across our Dorothy Perkins and Burton Menswear brands,” said John Kenchington, Multichannel Director, Dorothy Perkins and Burton Menswear. “First Insight enables us to reduce our reliance on historical sales data, store testing and pure instinct and instead place our customers at the heart of our decisions by directly asking them about new products before we go to market. We can then use those insights to make faster and better merchandising decisions.”
About First Insight, Inc.
First Insight is the world’s leading digital product testing and decision-making platform that empowers companies 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 AI to create actionable insights, which drive measurable value. Enterprises 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 Dorothy Perkins
One of the biggest fashion retailers in the country, with 351 outlets in the UK and 108 international outlets. Dorothy Perkins is for every woman: our clothes come in sizes 6 to 28 with dedicated Tall, Petite and Maternity collections, all with a focus on a feminine, flattering fit. With an extensive selection of shoes, boots, bags and accessories, you can find the perfect finishing touches at DP. Plus, with weekly in-store updates and daily online drops, there’s always something new to discover.
We’ve been inspiring women for over 100 years – so it’s safe to say we know a thing or two about fashion. Fashion is what we love – it’s at the heart of everything we do. We were one of the first fashion brands to understand the power of the celebrity endorsement – supermodels like Helena Christensen and Yasmin Le Bon have been Dorothy Perkins’ ‘faces’; Gok Wan has offered our customers style and shape advice; and Khloe, Kourtney and Kim Kardashian have sprinkled their magic with their exclusive Kardashian Kollection.
In 2016 we introduced our DP Curve collection in sizes 18 – 28, with clothes specially designed to fit and flatter the fuller figure. We’re proud that we care about the things that are important to our customers: looking good, feeling great and making a difference. That’s why we set up our partnership with Breast Cancer Care – we’ve raised over £3 million to support their work over the last ten years.
About Burton Menswear
Burton’s are one of British fashion’s true pioneers. Good value and style are Burton’s hallmark. We’ve been dressing British men since 1904 and we’ve been obsessing over quality and finish every step of the way since then.
Our founder Montague Burton revolutionised men’s tailoring making the well-cut suit and the sharp shirt accessible to the working man. He was even responsible for creating the Full Monty: a demob suit for returning war veterans which incorporated a suit, shirt and tie.
We’ll always continue to build on our reputation for tailoring, but today Burton provide everything the modern man needs to look and feel great. From our newly launched performance wear to our extended Big & Tall range, our goal is the same as it always was: to help every man dress well by offering fantastic, affordable, high-quality fashion.
Both Brands are owned by Sir Philip Green and his family and part of the Arcadia Group Ltd which is one of the UK’s largest privately owned clothing retailer Groups.
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