Hotter Shoes partners with firm on predictive analytics
Hotter Shoes is teaming up with First Insight to enable it to make accurate design, buying and pricing decisions on the new products it offers to customers.
The shoe retailer will work with the firm to use online social engagement tools to gather real-time customer preference, pricing and sentiment data on potential product offerings. The information will then be filtered through predictive analytic models to determine which products present the greatest opportunity.
Hotter Shoes said the partnership means it will be able to increase its speed to market and will also help to inform merchandising assortment decisions.
Victoria Betts, Hotter Shoes chief commercial officer, said: “Leveraging the voice of the customer to optimise our buying decisions and assortment selections will help us to offer the right products at the right price as we continue to grow our business domestically and internationally.”
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