It’s a story we’ve heard before: a fashion or retail brand that has enjoyed long-term success suddenly finds itself losing marketshare to a disruptive, quick-moving start-up with the tech-savvy to outpace the competition. But, it’s also a story that should finally be told less often, thanks in part to companies like MakerSights. A product intelligence company based in San Francisco, MakerSights allows brands to harness the power of data to skip over evening the playing field and move right ahead into gaining an advantage over other companies.
“Brands whose processes and strategies were developed in the past are now scrambling to adapt to the era of the empowered consumer,” MakerSights CEO Dan Leahy tells FTF. “Our mission at MakerSights is to help brands combine the voice of their customers with the power of data science in order to develop the right products in the right quantities.”
The MakerSights team makes it easy for companies to gain insight into precisely what is and isn’t working—and why—by offering everything from ranking specific products that have resonated best with core customer groups in the past to predictive analysis that aims to improve the accuracy of sales forecasts. It’s the type of focused analysis that even the best-equipped start-ups can benefit from having in their back pocket.
“Today’s customer is more savvy, harder to pin down and less blindly loyal,” Dan says. “But while today’s consumer presents its own set of challenges, the silver lining is she actively wants to co-create with brands she cares about. MakerSights allows brands to turn today’s savvy consumer into an asset, incorporating the voice of brands’ customers into actionable product insights that allow merchants, planners and designers to develop more productive assortments, faster.”
Nike, Ralph Lauren and Shinola are among those that have already bought in to MakerSights portfolio.
“Our heads and our hearts have always been in retail, and many of us have sat in the same seats as many retail stakeholders today,” Dan says. “We believe the power of data, coupled with the modern day consumer’s desire to feel unique and in control of her fashion sense, can ultimately spark more sales, better margins and inspiration for new growth strategies across retail.”