Market Basket Analysis
What's in your customer's shopping carts?
What's driving their purchase behavior?
Market basket analysis identifies customers purchasing habits within shopping trips over periods of time. The opportunities from this type of analysis are cross-selling related categories, up-selling better or more profitable brands within purchased categories, and offering incentives for additional shopping trips. Basket analysis also offers a deep dive into promotional and price effectiveness as well as customer profitability assessments.
Deliverables include:
- Most popular basket combinations for your customer base
- Identification of product affinities
- Evaluation of basket ratio of promoted versus everyday priced products
- Promotional cannibalization on categories
For more information, please
email us for more detail.