In the fashion industry new products come with a high degree of risk, yet finding new winning products is essential for every brand or retailer. Multiple industry sources have stated that the success rate of new products is less than 50%.
Thanks to new benchmarking data from First Insight, new success rate statistics by category and geography have emerged, and they are far lower than 50%. Join Jim Shea, Chief Commercial Officer of First Insight, Inc. as he presents the benchmark findings.
Nathan Gray, Vice President Planning and Allocation at Helzberg Diamonds also discusses how Helzberg is using predictive analytics to dramatically increase their new product success rate.
• Learn which product categories and geographies have the highest and lowest success rates on new fashion items
• Understand how your own company's products stack up against these benchmarks, and what you can do about it
• See how Helzberg Diamonds dramatically increased their new product hit rate by applying real-time analytics to the Voice of the Customer
