Latest news with #FirstInsight
Forbes
09-06-2025
- Business
- Forbes
Survey: Retailers Face Consumer Backlash Over Tariff Price Hikes
Shoppers are paying close attention to how retailers handle the import crisis, with most saying they would reward brands that absorb higher costs. Three out of four consumers would be inclined to abandon their favorite retail brands over claims of price increases necessitated by new tariffs. That's one of the top-line findings in a new survey by First Insight, suggesting that inflation-weary shoppers are annoyed and growing suspicious of major retailers' announcements about rising import costs. Among U.S. shoppers, only one in four said they are convinced that tariffs alone are responsible. Inversely, 80% of the 1,120 American shoppers surveyed said they would reward brands that absorb those extra expenses with increased loyalty. Unlike during the pandemic, a cataclysm that played no favorites, the trade war is fast becoming a consumer marketing minefield. In spite of persistent uncertainty and chaos surrounding the U.S. government's evolving tariff policies, most retailers have issued public statements about raising prices. Among 306 top retail and brand executives surveyed by First Insight, 77% reported they had preemptively announced price hikes even though the majority, 60%, concede they expect to lose market share to competitors that don't. The survey reveals some strong undercurrents in the consumer economy that retailers ignore at their peril, and a clear opportunity to attract new customers. For starters, price trumps brand loyalty more than ever. Pandemic-driven inflation coupled with the surge in e-commerce gave consumers the motivation and the tools to aggressively shop for the lowest price for just about anything. The 'value for money' calculation is increasingly top of mind among consumers. Every major retailer of groceries and other comparable commodities and essentials is devoting more shelf space to lower-priced, higher-profit private label brands that shoppers deem equivalent to national brands. Brand loyalty is losing its grip on the many who are struggling to pay higher mortgage, rent, and insurance bills. Shoppers are better informed than ever. One can cruise the aisles of any store and price-check items using their cell phone before deciding whether to buy. That gives retailers who hold the line on prices a leg up on competitors that pass on higher tariff expenses. Hold the line might be a good slogan for an ad campaign. As an industry, retail profits soared during the pandemic. Walmart, for example, reported earnings per share that rose 70% over the past three fiscal years. The dichotomy between household budget pain and outsized retail profits was not lost on the public and suspicion lingers. In 2022, for example, McDonald's said it was raising prices 10 percent at its U.S. restaurants while simultaneously reporting better-than-expected sales and profits. Its CEO explained at the time, 'consumers are willing to tolerate it.' The dust has yet to settle on whether and by how much import tariffs might rise. Either way, 'Any talk of pricing can not only shake the market, it can shake the consumer,' according to Sonia Lapinsky at Alix Partners, a retail advisory consultancy. Lapinsky recently told The Wall Street Journal, 'If they hear about price increases, it might just prevent them from going in the store at all.' Consumers surveyed by First Insight said that the top two actions retailers and brands can take to offset price changes are: 1) clear communication–especially around if and why prices are rising. And 2) introduce new efforts to soften the blow, including offering loyalty points or discounts. Good advice in any season.
Yahoo
02-06-2025
- Business
- Yahoo
First Insight Unveils New MaximEyes Brand Website to Reflect Innovation in Eye Care Technology
MaximEyes Website Hero Image PORTLAND, Ore., June 02, 2025 (GLOBE NEWSWIRE) -- First Insight Corporation, a leader in eye care software solutions, today announced the official launch of a refreshed visual identity and redesigned website for its flagship product, MaximEyes. This brand update underscores the company's ongoing commitment to innovation and delivering smarter, more intuitive technology for eye care professionals. The new MaximEyes brand reflects a modern aesthetic, aligning with the company's rapid product evolution—including upcoming advancements in artificial intelligence for practice management and revenue cycle enhancement. 'MaximEyes is known for its reliability and support,' said Nitin Rai, Founder and Chairman of First Insight. 'We're pairing that legacy with forward-looking design and content that matches the powerful, AI-driven features we're adding to our platform.' Key updates include: A simplified, modernized logo and color palette A redesigned website experience that makes it easier to explore solutions and get support Clear and concise content centered on helping practices simplify operations and maximize performance First Insight will showcase the refreshed MaximEyes experience at Vision Expo West on September 17 - 20, where conference attendees can see the newest solutions at Booth F13029. To explore the new brand and website, visit About First Insight & MaximEyesUsed by thousands of professionals nationwide, MaximEyes' comprehensive solutions for optometry and ophthalmology practice management and EHR empowers eye care professionals to build and grow a thriving practice. Our user-friendly software—designed in collaboration with optometrists, ophthalmologists and opticians—automates routine tasks, improves efficiency, and enhances patient experience, patient engagement, and optical point-of-sale. From EHR, image management, intake and scheduling to retail optical management, revenue cycle management and website solutions, MaximEyes has you covered. Simplify practice management, improve patient engagement, and grow your business with intuitive software and expert support. MaximEyes is part of First Insight Corporation, a trusted provider of software and services solutions that help healthcare practices run smarter, more efficient businesses. Learn more at Option 5 sales@ A photo accompanying this announcement is available at
Travel Weekly
20-05-2025
- Business
- Travel Weekly
A sustainability premium is a tough sell -- but what about Gen Z?
Teri West When I explored the question of whether cruisers, particularly in the expedition and luxury market, would be willing to pay a sustainability-related premium, the answer I received was, essentially, "no." Cruise executives and advisors who specialize in these products told me that while customers may care about sustainability, the destination itself and the price are still their primary concerns. If one line was to charge an extra fee for sustainable efforts, it could lose customers to a competitor, they said. But that story may change in the decades to come, as younger generations mature, grow their wealth and start talking with their money. "I have a 19-year-old daughter who's my youngest one, and she has a complete different focus on environment and sustainability than I ever had at that age," Hurtigruten COO Gerry Larsson-Fedde told me. "And that's the generation that's coming. That's the generation that will be our guests in the future. And we really need to be prepared for that." Studies have for years documented the way Generation Z consumers think about the environment when they shop. Capital One reported in March that a little more than half of Gen Z shoppers are more likely to choose a product based on its sustainability than its brand name. The comparable rates for Gen X and Baby Boomers were 11% and 20%. When asked whether they would be willing to pay more for sustainable products, 73% of Gen Z respondents answered "yes" in a 2019 study conducted by consumer data analyst First Insight. That's a higher rate than any other generation; just 55% of Gen X respondents and 42% of Baby Boomers had the same answer. But that was six years ago, you say. Consider this: In the same study conducted two years later, the rate had continued to increase for every other generation -- but especially for Gen X, which surged to a 78% willingness to pay more. There is less data available about whether and how younger travelers prioritize sustainable travel, but what is available shows many are thinking about the Earth when taking trips. For example, half of the students surveyed for StudentUniverse's State of Student Travel in 2024 report said they prioritize booking with companies that have strong environmental credentials. Of course, the desire to prioritize the environment doesn't always align with how Gen Z shops in practice. Fast fashion, for example, is still popular; 72% of college students reported shopping a fast-fashion chain in a 2022, according to a report published by ThredUp. But fast-fashion products are also amongst the most affordable for building a wardrobe. In 10, 20 or 30 years, we could expect the wallets of those then-college students to be more robust and, perhaps, discerning. There is already a sector of people unwilling to cruise because of the industry's environmental impact, said Gari Senderoff polar travel specialist with Cruise Planners. "And let's face it," he told me, "Nobody really, absolutely needs to cruise. People need to fly, but no, this is a luxury that nobody really needs." If upcoming generations continue to prioritize lowering their environmental impact, the industry could lose out on more customers who choose to put the environment first. Or it could work proactively. "You can't start in 20 years," Larsson-Fedde said. "We need to start now."
