NEW YORK, Jan. 10 /PRNewswire/ -- At the National Retail Federation (NRF) show being held today, First Insight, a company that is revolutionizing the way retailers make business decisions by connecting them to the voice of the consumer, unveiled the newest version of Virtual Customer Viewpoint (VCV). VCV is a solution that allows merchants and designers to improve product selections, forecast future item's sales, assess price points, and evaluate the strength and applicability of attributes of particular products.
"First Insight is a company that encourages large groups of consumers to share their current thinking through online interactive forums, giving retailers the power to know better which products are going to be popular with consumers before they make their purchasing decisions. Even more valuable, consumers themselves are telling them," said Greg Petro, CEO of First Insight.
VCV leverages expansive online consumer activities and conversations to give retailers real-time information and a strategic advantage in deciding what to sell, and where, how, and to whom they should sell it. The new product offers a fast, low-risk way to harvest financial returns and analytic insight from existing CRM programs and any online presence retailers already have today.
Available immediately and deployed as a SaaS solution, VCV brings the analytic insight of collective customer guidance to decisions made throughout an item's complete lifecycle--from preseason design, configuration, pricing, and assortment decisions to targeted marketing and one-to-one selling in-season. As new marketplace trends emerge, VCV gives designers, merchants, and marketers unprecedented real-time visibility of what customers want at speeds that match rapid and unpredictable changes in consumers' buying preferences, leading to reduced risk and increased profitability.
With VCV, retailers and brands can immediately transform investments in social media and social networks into two-way conversations with consumers. VCV brings retailers and brands to where consumers are already gathering and defining future trends. There, VCV engages them with game designs, quickly collects reliable, accurate data, and measures consumers' inclination to purchase products and styles. VCV games uniquely support one-to-one promotions with personalized understanding of merchandise each consumer wants to buy, giving retailers the insight needed to increase conversion rates and sales.
"VCV provides real-time tracking of consumer trends and changes in how they value specific products," noted Aaron Brauser, First Insight's vice president of products. "It's a turnkey web application that provides instant online communities for merchandise of common interest. VCV enables community and communication to help retailers more successfully bring the products to market that fit their customer lifestyles."
ABOUT FIRST INSIGHT
Headquartered in Pittsburgh, First Insight offers a real time, ahead-of-the-trend view of consumer behavior that can drive purchasing, inventory and marketing decisions and dramatically boost revenues and margins. The company has a technology platform and unique approach that allows us to provide information to retailers with speed that is unprecedented in the industry. No other company in the world is tapping the power of consumer influence for retailers like First Insight is, right now. More information about the company is available at www.firstinsight.com.
First Insight, Inc. is exhibiting at booth #2065 at this week's NRF Convention and Expo at New York's Javits Center.
SOURCE First Insight, Inc.