Chico's Invests in Customer Insights

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Chico's Invests in Customer Insights

06/22/2017
Women's apparel retailer Chico's FAS is partnering with First Insight, a predictive analytics company. Using First Insight's consumer-driven predictive analytics, Chico's FAS will be able to more quickly and accurately make design, buying and pricing decisions on the apparel, shoes, accessories and jewelry it offers to its consumers both in stores and online.

Through the partnership, First Insight will utilize its online social engagement tools to gather direct consumer input on new products from Chico's base of customers. The data will then be analyzed using First Insight's predictive models, enabling Chico's FAS to better understand its customer base and calibrate inventory buys, optimize allocation strategies and offer products that align with their needs.

"One of our key strategic imperatives is to leverage actionable retail science to improve our operational performance," said Shelley Broader, CEO and president of Chico's FAS, Inc. "Our rich customer data combined with First Insight's online customer engagement and analytics should help us to identify top performing product as much as 12 months pre-season.  We expect this partnership will enhance our ability to consistently deliver the beautiful merchandise our customers want, resulting in stronger sales for our company."

"For more than thirty years, Chico's FAS has built its business by cultivating beautiful apparel that puts the needs of its fashion-savvy customers first," said Greg Petro, CEO and founder of First Insight. "By introducing enhanced analytics around the voice of the customer into its product development process, we will be able to help Chico's FAS increase sell-through and reduce markdowns while continuing to deliver trend-right products."