Market basket analytics
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Analytics service for receipt data Datawiz Inc.
Transcript of Market basket analytics
Analytics service for receipt data Datawiz Inc.
Every retailer wants to draw the traffic to the store by proposing a
wide range of products and categories that most of consumer
typically put on their shopping list.
But how we can understand,
what products are in this shopping list?
Loyalty program?
• Shows who, what, when and how often buy
• Defines client value
• Provides targeted communication
If we have no loyalty program?
Could we find another way to learn our clients?
Market Basket Analysis!
What products are in clients basket
Friday evening?
Monday morning?30 grn. cost?
With beer and chips?
Applying
Two different baskets in evening:
Smoker 1: Cigarettes+Lighter ~ 30 grn.
Smoker 2: Cigarettes+Milk+Bread+Confectionary = 120+ grn.
For transformation of Smoker 1 to Smoker 2 marketers used
strategy: «Discount coupon 3% for the purchase more than 100
grn.»
Result: 20% of Smokers 1used discount coupon.
Case about smokers
Case about business lunch
Typical basket at lunch:
Yogurt+Bakery = 30 grn.
At lunch time put together Yogurts & Bakery.
Result: Number of receipts with this pair of products
doubled.
You opportunities with МВА
Define
products bought with gumboots.
Understand customer behavior
at different hours and days of week.
Find out what products are
in baskets of different cost.
Increase the number of items in basket by improving product
placement, additional proposals and cross sales.
Benefits
• Understand customer needs
• Range most suitable for clients
• Product placement optimization
• Demanded offers formation
• Target marketing activity
• Increase of articles number in the basket
All for customer!
Bonus: analytics and reports
Today we are working with:
• Kolos
• Roma
• Norma
• Taistra
• Artichoke
Integration
