First Insight and DICK’S Sporting Goods Expand Partnership
October 10 2018 - 9:05AM
Business Wire
Leading Omni-channel Sporting Goods Retailer
Agrees to Multi-Year Expansion; Optimizes Assortment With
Predictive Analytics
First Insight, Inc., a global technology company transforming
how leading retailers make product investment and pricing
decisions, today announced a multi-year expansion of their
partnership with DICK'S Sporting Goods (NYSE:DKS), the largest
U.S.-based, full-line omni-channel sporting goods retailer.
DICK’S has been using First Insight’s consumer-driven predictive
analytics for nearly three years to make design, buying and pricing
decisions on its branded and private label products in multiple
categories, including sports equipment, apparel, footwear and
accessories. The platform has helped the company better understand
how to capture market share and has aided DICK’S in making more
informed product assortment, initial price and price promotion
decisions.
“First Insight is a critical element in the success we have
achieved as a company over the last three years,” said Will
Swisher, SVP, Merchandise Planning, Allocation and Replenishment at
DICK’S Sporting Goods. “They have helped us rationalize our product
assortments and are an instrumental partner in the day-to-day
decisions of our product development and merchandising teams.”
First Insight uses online social engagement tools to gather
real-time preference, pricing and sentiment data on potential
product offerings. The information is filtered through First
Insight’s predictive analytic models to determine which products
and price points present the greatest opportunity. The solution is
enabling DICK’S to evaluate a greater number of products and thus
make a larger investment in products that are predicted to perform
well, while eliminating those that won’t.
“DICK’S Sporting Goods is taking a back-to-basics approach and
focusing on getting its product right,” said Greg Petro, CEO and
founder of First Insight. “DICK’S is leveraging our broad,
easy-to-use platform to put the customer at the heart of its
forecasting, pricing, targeted segmentation and planning decisions.
Additionally, the data has enabled them to forge even stronger
relationships with their brand partners to serve the customer most
effectively.”
About First Insight,
Inc.
First Insight is the world’s leading customer-centric
merchandising 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 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181010005101/en/
Media:Berns Communications Group, LLCMichael McMullan,
212-994-4660orFirst Insight:Gretchen JezercSVP of
Marketinggretchen.jezerc@firsinsight.com
Dicks Sporting Goods (NYSE:DKS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Dicks Sporting Goods (NYSE:DKS)
Historical Stock Chart
From Apr 2023 to Apr 2024