First Insight Announces Next Generation XM Platform Applications Supporting ESG and Sustainability Initiatives
PITTSBURGH – (COMMERCIAL THREAD) – First Insight, Inc., a global leader in Next-Gen Experience Management (XM) technology that is transforming the way businesses make better decisions leading to a sustainable future, today announced the significant benefits realized by clients in achieving their environmental, social and governance objectives (ESG). As reports show that sustainability (a critical ESG component) becomes increasingly important in consumers’ purchasing decisions, companies are leveraging the First Insight platform to meet consumer expectations and strengthen their positioning as than sustainable brands. By fueling sustainable processes and better business decisions, First Insight enables efficient operations that improve profitability while reducing environmental impact.
First Insight clients recently reported significant business impact by leveraging the platform for sustainable and efficient operations. A leading retail chain using First Insight to test their products before launch has found that their customers find a particular design offensive. They were able to halt development before orders were placed, thus avoiding the environmental impact and the substantial cost of reverse logistics and product disposal, in addition to the damage that would have resulted in their branding and loyalty.
âConsumers today expect the brands they invest in to act with the health of our planet in mind,â said Greg Petro, CEO of First Insight. âWith the First Insight platform, businesses have the dual benefit of delighting their customers and operating much more efficiently, increasing their profits while reducing their environmental impact. ”
First Insight customers testing early in the development process, especially with 3D images, reduce sample production costs by up to 70% and time to market by 40% or more. A major brand used the First Insight platform to reduce styles produced by 61% while increasing adoption rate by 88% and units ordered by 39%. Additionally, understanding whether customers are willing to pay more and how much for sustainable products is an ongoing challenge that the First Insight platform helps businesses meet. A leading department store was able to record a 10% price increase for eco-friendly offerings based on First Insight test results.
âRegardless of industries and geographies, our customers are using our platform to do more with less. They eliminate the worst performing products from their portfolios before they launch, making their development process and inventory investment significantly more efficient. One shoe brand said it increased revenue by six percent while reducing inventory by 40 percent thanks to First Insight. It really is doing more with less.
About First Insight, Inc.
First Insight, the global leader in next-generation experience management (XM), is transforming the way businesses make better decisions for a sustainable future. Customers include major retailers, brands, sporting goods companies, department stores, consumer products companies, CPGs, mass merchants and wholesalers. For more information, please visit: www.firstinsight.com.