First Insight Inc. recently shared a short case study on how its “next-gen experience management” technology is helping retailers and brands see “significant benefits realized by customers in achieving their environmental, social and governance goals.”
The company noted one client who pulled the plug on a design that could have spelled trouble for its brand and reputation.
“A leading retail chain using First Insight to test their products before launch discovered that their customers found a particular design to be offensive,” First Insight said. “They were able to stop development before orders were placed, avoiding the substantial environmental impact and cost of reverse logistics and product disposal, in addition to the damage that would have resulted to their brand image and loyalty.”
The context of the case study is also framed by recent reports that show sustainability, which is a core ESG component, has become “increasingly important in consumers’ purchase decisions.” First Insight said retailers and brands are leveraging its platform “to meet consumer expectations and strengthen their positioning as sustainable brands.”
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“By powering sustainable processes and better business decisions, First Insight enables efficient operations that enhance profitability while reducing environmental impact,” the company said in a statement, adding that the company’s customers “have recently reported significant business impact through leveraging the platform for sustainable, effective operations.”
Greg Petro, chief executive officer of First Insight, said today’s consumers “expect — and even demand — that the brands they invest in will act with the health of our planet in mind. With the First Insight platform, companies gain the double benefit of delighting their customers and operating much more efficiently, increasing profits while reducing their environmental impact.”
The company also said that clients who use its technology to test products early in the development process, “particularly with 3D images, are reducing sample production costs by up to 70 percent and cutting time to market by 40 percent or more.”
First Insight said a major brand used its platform to “reduce the number styles produced by 61 percent, while increasing adoption rate by 88 percent and units ordered by 39 percent.”
The company said by understanding whether customers are willing to pay more, and how much, for sustainable products “is an ongoing challenge that the First Insight platform helps companies to address.” The report also noted that a leading department store was able “to capture a 10 percent price uplift for eco-friendly offerings based on First Insight test results.”