HCI
Hence Consumer Insights
Revealing high potential ideas
Context and key points
Selecting a mix of products in line with what the end consumer wants is a challenge for the fashion industry. The ideal would be to test the different product ideas in an agile and reliable way for the decision making regarding next collection.
Core Questions
Which ideas are most attractive to consumers? Which ones add value and represent the collection’s next successes?
Critical Points
- Select the most relevant ideas for consumers.
- Knowing how much people are willing to pay for each idea.
- Diagnose opportunities for design / product improvements
- Define the ideal mix that generates greater attractiveness with the best perception of value.
HCI Hence Consumer Insights
Continuous, automated process to define a short-list of products most likely to meet consumers’ needs and expectations.
HCI Dynamics
Online platform for standardized product testing for each new collection or for assessing brand strength.
1. Image upload of products to be tested on the platform
2. Evaluation of products through online survey with consumers.
3. Analysis of the results with the recommendation of the ideal mix.
The scalar performance of each product will be measured by attractiveness metrics that can be segmented by different consumer profiles.
Objective Performance
Comparative Performance
Understand the strengths of each product and how they divide between relevance, uniqueness and overall attractiveness.
Spontaneous Impressions
Qualitative component that brings the spontaneous impressions that consumers associate with each evaluated product
Price Sensitivity
The PSM (Price Sensitivity Model) considers that price is an intrinsic measure of value that helps to establish the minimum and maximum intervals and also the optimal price point for a given product.
- At what price would you consider the product so expensive that you wouldn’t consider buying it? (Very expensive)
- At what price would you consider the product to be so cheap that you would feel the quality couldn’t be very good? (Very cheap)
- At what price would you consider the product starting to get expensive and you would have to think a little before buying it? (expensive / high side)
- At what price would you consider the product a bargain, i.e. a great buy for the money? (Cheap / good value)
Max Diff’s analysis helps the company to understand how people make their choices from a set of products presented in a comparative way and that reflects the maximum difference in preference or importance between them.
Max Diff
Unduplication
Combination of products with the potential to reach the largest number of consumers.
Many products from a range of offerings can appeal to the same consumers who will buy only one of the items when in market. This consumer deduplication technique, in an analysis analogous to the TURF, allows the prioritization of products that add a greater number of new consumers and that would not be reached by only one of the offers.
Road Map
Defining a framework for product testing that allows autonomous projects to be conducted
- Pilot study for methodology validation and refinement.
- Full service online platform to implement testing routines.
- Personalized for the client
- Connected to online survey sample providers
- Managed in-house or by partners
- Sencia Consultancy for the first projects
- Launch tests according to collections schedule.
- Agility to setup a new project
- Data collecting
- Information processing
- Reporting of insights
- Create a robust test base for further analysis using AI/ML techniques.
Sencia offers the state of the art in Data Science and Marketing Analytics to achieve your goals.
- Multidisciplinary Team
Multidisciplinary team composed by Masters and Doctors in Statistics, Computational Mathematicians and Marketing Specialists.
- A.I.
Artificial Intelligence and ML algorithms to identify the aspects most valued by consumers
- Insights
Prescriptive insights to guide the innovation pipeline.