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15 May

Woolworths South Africa Taps First Insight for Retail Tech Platform

Woolworths South Africa Taps First Insight for Retail Tech Platform

With the aim of optimizing product development, sourcing and merchandising capabilities, Woolworths Group’s South African division inked a take care of First Insight for the corporate’s Next-Gen Retail Tech Platform. The South African retailer’s goals in using the answer are to bolster margins and drive customer engagement.

In an announcement Monday, Woolworths South Africa said it’s going to use First Insight’s platform “to assemble zero-party, Voice of Customer data and operationalize product testing for faster and higher merchandising decisions of their womenswear division,” adding that the partnership “will empower Woolworths with actionable insights to guide their product investment, pricing, and marketing decisions.”

Greg Petro, chief executive officer of First Insight, said his company’s “proven data gives retailers and types the insight and competitive advantage they should offer their consumers higher assortments at the correct price.”

First Insight said it uses online social engagement tools “to assemble real-time customer preference, pricing, and sentiment data on potential product offerings. The data is filtered through First Insight’s proprietary analytic models to find out which products present the best risk and opportunity.”

Roxanne Gillan, general manager of business development and innovation at Woolworths, said the corporate was “enthusiastic about our partnership with First Insight as their research and data will provide us with useful insights, to higher service our customer needs through a more targeted merchandise selection.”

The Woolworths Group has three operating units. Woolworths South Africa relies in South Africa and operates across 10 countries across sub-Saharan Africa, the corporate said. The retailer also operates the Country Road Group, which relies in Australia and serves Recent Zealand and South Africa as well. The corporate also has a three way partnership with the ABSA Group and operates Woolworths Financial Services.

The Woolworths Group has about 176 Big W branded malls, which supply apparel for girls, men and youngsters. The shop also features home goods, electronics, sporting goods, health and wonder, office supplies, and pet food and care, amongst other categories. The Woolworths Group operates about 1,087 Woolworths supermarkets and Metro Food branded stores. In Recent Zealand, the corporate has 190 supermarkets under the Countdown moniker.

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