Conduct a Market Basket Analysis on detailed SKU level databases
Use advanced data mining algorithms to yield rules that identify distinct customer shopping behaviors
Find relationships between purchases, associated product categories, top combination product purchases
Identify seasonal Vs non-seasonal purchasing patterns
Conduct SKU relationship analysis
The client was able to develop association rules that helped them understand the groups of products that sold well together.
The client was able to offer complementary promotion programs; help decide the location, amount of shelf space necessary (in turn calculate and decide on the number of facings of the product on the shelf) and types of promotions inside the store.
Profitability augmented by promoting the right products together at the right time and price.
Instead of promoting / offering simultaneous discounts on two (or more) products, discount one to pull in sales from the other
Differential market basket analysis helps drill down and compares the results between different stores, between customers in different demographic groups, between different days of the week, different seasons of the year etc.
