First Insight Solution Provides Real-Time Lifecycle Visibility into Consumer Trends

First Insight recently unveiled the newest version of Virtual Customer Viewpoint (VCV), a solution that it says allows merchants and designers to improve product selections, forecast future items' sales, assess price points and evaluate the strength and applicability of attributes of particular products.

VCV, deployed as an SaaS, employs online consumer activities in the form of interactive games that, through engaging with shoppers, quickly collect accurate data, and measure consumers' inclination to purchase products and styles.

This real-time information can be used to strategic advantage in deciding what to sell, and where, how, and to whom retailers should sell it. The information gathered from the games allows retailers to track consumer trends and changes in how consumers value specific products. It also supports one-to-one promotions by offering a personalized understanding of the merchandise each consumer wants to buy, giving retailers the insight needed to increase conversion rates and sales.

The early and analytic insight of the collective consumer provided by the solution can be applied to decisions made throughout an item's complete lifecycle, the company says, from preseason design, configuration, pricing, and assortment decisions to targeted marketing and one-to-one selling in-season.