Is big data* changing the need for focus groups?

Recent articles suggest that there is so much information being gathered about customers and spending and everything else you can think of, that the need to do traditional market research is starting to fall by the wayside.  Data will give you all the information you need to predict consumer actions.  As I noted in my recent post about consumers using Amazon and other sources to comparative shop for price and quality, features and benefits, big data still reports historically on what consumers have done, therefore, you are looking backwards to predict the future. Yes, I know, history repeats itself but […]

When technology intersects with fashion – you benefit.

There’s a new tech idea/website that’s been specifically developed for fashion designers (although other businesses can certainly use it).  It seems to be a cross between crowdfunding/sourcing and market testing.  Here’s how it works: A designer posts several new items from their upcoming collection – or variations on one item – for instance the designer could post one item in multiple colors to see which color is the most appealing. The customer, if interested in the item, makes a commitment to purchase it.  When orders reach a minimum number designated by the designer, then the customer is charged and the […]