实例探究 > How Dick’s Sporting Goods uses data to make its products stand out

How Dick’s Sporting Goods uses data to make its products stand out

公司规模

1,000+

地区

America

国家

United States

产品

First Insight Predictive Analytics Platform

技术栈

Predictive Analytics
Consumer Sentiment Analysis
Data Collection via Email, Social Media, and Retailer’s Site

实施规模

Enterprise-wide Deployment

影响指标

Customer Satisfaction
Productivity Improvements
Revenue Growth

技术

分析与建模 - 数据挖掘
分析与建模 - 预测分析
分析与建模 - 实时分析

适用行业

零售

适用功能

产品研发
销售与市场营销

服务

数据科学服务
系统集成

关于客户

Dick’s Sporting Goods is a major American sporting goods retail company that has been in operation for several decades. The company offers a wide range of sporting goods, apparel, footwear, and equipment for various sports and outdoor activities. With a strong presence both online and through its numerous physical stores across the United States, Dick’s Sporting Goods aims to provide high-quality products and exceptional customer service. The company has been focusing on enhancing its product development and merchandising strategies to stay competitive in the market, particularly against e-commerce giants like Amazon. By leveraging advanced analytics and consumer data, Dick’s Sporting Goods strives to create a compelling product assortment that meets the evolving needs and preferences of its customers.

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挑战

Dick’s Sporting Goods faced the challenge of differentiating its product offerings to attract consumers away from competitors. The retailer aimed to make both its private labels and branded merchandise appealing to shoppers. However, the industry average for new product success rate is below 40%, making it difficult for Dick’s to build a selection that would stand out. This challenge was exacerbated by Amazon’s growing product range and dominance in the sporting goods market, with Amazon launching its own activewear private labels and achieving significant sales growth in sports and outdoor categories.

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解决方案

To address the challenge, Dick’s Sporting Goods partnered with First Insight, a customer-centric merchandising platform, to leverage its predictive analytics capabilities. First Insight collects consumer data through various channels, including email, social media, and the retailer’s site. This data includes demographic information, product appeal scores, pricing preferences, and additional comments from consumers. The collected data is then processed through First Insight’s predictive analytics models to provide Dick’s with unique insights into consumer preferences. These insights inform the retailer’s product development process for private labels, buying decisions for branded goods, and overall pricing strategy. By incorporating consumer sentiment analysis into its decision-making process, Dick’s aims to create a more appealing product selection that resonates with shoppers.

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运营影响

First Insight’s predictive analytics models have enabled Dick’s Sporting Goods to improve its product assortment and pricing strategies.
The partnership has been extended for multiple years, indicating satisfaction with the results achieved so far.
First Insight’s platform has been a critical element in Dick’s success over the past three years, according to the company’s SVP of Merchandise Planning.
The use of consumer data and analytics has helped Dick’s build a more enticing product selection, enhancing its competitiveness in the market.
The collaboration demonstrates the importance of integrating consumer data into merchandising decisions to maximize product performance and appeal.

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数量效益