Wolverine Worldwide signed a global strategic partnership with First Insight to better leverage data in its product decision-making process.
The Rockford-based maker of apparel and footwear said Monday that it partnered with Pittsburgh-based First Insight to enable its portfolio of 12 brands to increase speed-to-market, sell-in, sell-through and reduce markdowns.
To accomplish this, Wolverine Worldwide 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 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 to 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 return on investment.
“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,” Goodman said. “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,” Pinkham said. “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.”