First Insight Inc. said today that it has formed a partnership with Diane von Furstenberg to leverage its consumer insights technology solution.
The firm also noted that it extended a partnership with Helzberg Diamonds, which said its new product success rate doubled since working with the data analytics firm. The jewelry retailer has worked with First Insight since 2013.
Sarah Willersdorf, chief marketing officer at Diane von Furstenberg, said the fashion house was “excited to see how our work with First Insight can incorporate the voice of the customer into our new product decision-making process.”
“Our efforts together will allow us to continue to put the woman at the center of everything we do,” Willersdorf added.
“Brands and retailers are using First Insight to help improve sales, margins, buy depth and marketing effectiveness,” First Insight said. “As more retailers and brands are looking to technology to improve efficiency and sales while also reaching new customer segments, First Insight has proven itself as a must-have solution for the global retail market.”
Beryl Raff, chief executive officer of Helzberg Diamonds, said its success with the tech firm “has allowed us to continue to connect with our consumers and deliver what they really want. Our new product success rate has doubled since we began using First Insight’s solution.”
Earlier this year, First Insight ceo Greg Petro was named a “Disruptor” by the NRF Foundation’s List of the Top 25 People Shaping Retail’s Future. After that recognition, the company renewed its partnership with Dick’s Sporting Goods as well as other brands and retailers.
Petro said brands are using its solutions as a “key enabler of their strategic initiatives to move ahead of the competition.”
“Most of the challenges in retail today stem from one root cause — they don’t understand their customers well enough to provide them exactly what they need,” Petro noted. “From product selection to marketing efforts, our solutions enable retailers and brands to know their customers firsthand, allowing them to reduce the risk of new product failures and determine optimal price points.”