Vera Bradley Integrates Web-Based Data Into In-Store Pricing

The Difference $1 Can Make
Scheele cited a couple of examples of how Vera Bradley has used insight gained from First Insight's predictive analytic models to optimize pricing for its new baby products. For example, a stuffed animal bunny that was originally priced at $18 was raised to $19 based on data from First Insight. Our customers indicated they were willing to pay more, Scheele said. The $1 change in price resulted in an 8 percent gain in revenue for the product.