Rewriting the Playbook for Predicting Consumer Demand
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First Insight approaches retail with a forward looking view to consumers via predictive analytics. Through their extensive longitudinal data they are formulating insights around how consumers are being reconditioned. They are seeing a convergence of demographics and a shift to online happening as people shift to staples and stockpiling, but what does the future look like?
This week on Retail Refined, learn how Greg Petro and his team are collecting data to access the future as companies will no longer be able to build models on historical data alone.
What Melissa Asked
- Tell us how First Insight approaches its research?
- How are you seeing the approach to data shifting during COVID-19?
- Who are some of your customers/this can be verticals (ie: Brands, manufacturers, etc)
- What are the early trends that you are seeing and how do you think they will evolve?
- Follow up to trends, are you starting to see demographics converging in opinion creating more unity amongst generations and their approach to shopping?
- How does a brand or retailer approach demand/order planning for Q3/Q4?
- How are you personally prioritizing spend right now?
More About Greg Petro
With decades of experience in retail, economics and growing SaaS businesses, Greg has helped to build First Insight, a technology company transforming how retailers make product and pricing decisions, into the world’s leading platform for creating differentiated products. Greg has extensive knowledge in the retail and technology industry, having held previous roles at i2/JDA, Saks, Inc. and Macy’s. His expertise and dedication to the industry have been touted at events including the NRF Big Show and WWD CEO Summit and in publications such as Wall Street Journal, Fortune, Forbes, CNBC and the Financial Times where he’s discussed how retailers can navigate today’s disruptions. Recently Greg was recognized as one of NRF’s “25 Most Influential People in Retail” and as Ernst & Young’s “Entrepreneur of the Year.”
Melissa will be back every Tuesday with new episodes! In the meantime, tune in every Thursday with Jennifer Kaylo Ruscin on Bricks and Clicks.
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