Access authentic customer insights with tens of thousands of customer opinions on your products before you’ve committed to stock with product testing from Mallzee Insights.
In the current retail market it’s vitally important to ensure you have the right products, at the right time, at the right price, for the right customers. The smartest retailers are now using data and insights generated from authentic customer feedback to make these better product decisions to power this.
Product testing with Mallzee Insights allows you to test products with real consumers before you’ve committed to stock. By introducing early feedback from real users, you can adopt a customer centric approach to make better decisions and what products to stock and what products to drop from your collections.
Utilising product testing in a collaborative approach with your product teams improves their hit rate, reduces your exposure to slow-moving or even terminal stock, and ensures you have enough stock of your best performing lines.
The most successful businesses harness in-depth, forward-looking customer insights in their product decisions. In the trend-led retail and fashion industry, smart solutions to capture customer insights early in the product cycle have previously not been readily available.
Now, in a rapidly changing retail market with significant challenges that most retailers are critically aware of, it is becoming a vital process to adopt. Product Future by Mallzee Inisghts is powerful tool to help retailers take advantage of customer feedback and insights before stock decisions are made.
Product Future lets brands and retailers of all sizes test products at various stages of the development stage, using CADs or samples, by promoting the products as exclusive ‘First Look’ products on our industry leading shopping app, Mallzee. Our userbase of over 1.5 million consumers will rate products through a simple swipe interface, enabling us to quickly understand their preferences on products in an authentic, consumer-focused manner. Think of it as a mass-market focus group; but one that provides you with a wide view of the full retail environment, which gives you feedback from multiple customer groups quickly.
Pre-release product testing lets you quickly test products at the early stages of their development, from CADs, 3D modelling or samples. Our dedicated retail analyst team will work closely with your buying, merchandising and marketing teams, to select the products you want to test and with which customer groups you want to understand likely performance. The products are loaded onto the Mallzee app, and showcased to your target demographics. Once each product reaches statistically relevant results, we remove them from the app. Consumers can not buy products in this stage, but will save the products they like to their wishlist.
The insights generated in this process are then combined into an in-depth report that looks at how each product performs against similar products from the market, your brand average and a range of other benchmarks. The insights are designed to be easy to adopt by your internal teams and fit smoothly into your decision making process. All partners are supported by a Retail Insight Analyst to help their teams utilise the insights generated fully and to provide support through the whole product testing process.
The Mallzee Insights database is the most comprehensive collection of customer opinions on the market, including the performance of over 3.5 million products from over 150 brands and retailers over the last 5 years. This treasure trove of data enables us to understand and predict likely product performance like no one else.
Product testing helps you maximise revenue from seasonal buys, cut markdowns and improve gross margin.
Every time you buy stock without including the customer in your decision making process, you miss an opportunity to improve results and maximise sales. This approach to product development now needs to change due to changing consumer habits and customer desires.
By placing the consumers at the heart of your product development cycle, you gain invaluable insights that help your teams have the edge over the competition when making decisions about what products to back and what products to avoid.
Companies that work with Mallzee Insights to utilise product testing and customer opinions in their product stock decision making can grow gross margins by up to 6% - all with no technical integration.
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