Duration: 2 hour(s)
Benchmarking Your New Product Success Rates Against The Industry
Monday, December 14, 2015 10:00:00 AM PST - 12:00:00 PM PST
Developing new, winning products is essential to the success and growth of any brand or retailer. Yet in the fashion industry, new products carry a high degree of risk. Consumer preferences change quickly, and manufacturing commitments must be made months in advance.
Most industry sources have stated that the success rate of new products in the retail industry is less than 50%. However many brands don’t actually know their own success rates on new products.
By aggregating millions of data-points on new products worldwide, First Insight has established the first-ever benchmark data on the actual success rates of new products, by category and geography. The numbers are alarming, and the success rates are far lower than 50%.
During this exclusive WWD webinar, Jim Shea, Chief Commercial Officer of First Insight, will present the benchmark findings. This data will enable fashion brands and retailers to know where they stand relative to their peers in the industry, and what they can do to improve.
In addition, Nathan Gray, Vice President Planning and Allocation at Helzberg Diamonds, will discuss how his company benchmarked their own new product “batting averages” and how Helzberg is using predictive analytics to dramatically increase their new product success rate.
Please note, the Fairchild Summits & Events webinar series was created for brands and retailers in the industry. Once reviewed you will receive a note confirming registration. We appreciate your interest.
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