mindtalks analytics: Wolverine optimizes merchandising with predictive analytics – Chain Store Age – picked by mindtalks

A footwear/apparel retailer is obtaining near-real-time customer insight to aid product development, assortment, pricing and marketing.

Wolverine Worldwide is integrating First Insight’s Voice of the Customer predictive analytics solution across its portfolio, which includes the Merrell, Sperry, Hush Puppies, Saucony, Wolverine and Keds brands. (The company Wolverine commerce sites as well as third-party retail partners.)

By deploying the new solution, Wolverine intends to further leverage data in its product decision-making process, enabling its portfolio of 12 brands to increase speed-to-market, sell-in and sell-through, as well as reduce markdowns. Predictive feedback from consumers can be delivered in 24-48 hours.

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.

“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 GM and VP 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.”
 

Source: chainstoreage.com

 

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