ProCast, predictive analytics tool, considerably reduces the uncertainty that arises when launching new products to the market, or existing products in new markets. It allows to identify trends, relevant price points to customers and design attributes with a higher level of acceptance
Description
ProCast (“Product foreCast”) is a predictive analytics tool that allows us to incorporate, in advance, consumer feedback on new individual items under development, within the purchase process
- It is integrated into the assortment planning process
- In a short period of time(5-7 days), ProCast allows you to obtain results that will influence in the final merchandise purchase decision or final production process
- ProCast inputs: level of acceptance and estimated price of new items, and qualitative comments on design, material, colors, etc.
- It helps in assortment planning process for the coming seasons
Impact
Incorporating the feedback of the final customer provides a greater adaptation of the products to the market and a reduction in the failure rate of the same ones
High return:
- Increase in Sales, Sell-through and Margin
- Markdowns reduction
- Samples manufacturing costs reduction
- Discard options with lower acceptance level
- Stock level decrease
Efficiency improvement:
- Reduction of testing periods for new products
- Reduction of purchase periods
- Changes in design / product materials
- Increased Customer Satisfaction
- Better Marketing and Communication tools
Sectors
- Personal equipment
- Clothing
- Sports clothing and footwear
- Footwear
- Accessories
- Underwear and lingerie
- Home equipment
- Home textile
- Furniture
Segments
- Value / Mass market
- Middle
- Upper
- Luxury
Player
- Chain
- Brand / Manufacturer
More info: carlos.dominguez@mheconsumer.com
