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Improve sales with Market Basket Analytics

Retail organizations looking to increase sales revenue and market share need to comprehend complex customer behavior and buying patterns across touchpoints, relationship between products and their visibility inside stores and various other digital selling products and channels.

Increasing sales across locations, products needs actionable insights and data-led predictions on buying patterns. Our models help retailers understand the right association/mix for strategic decisions.

Our Approach

We rely on AI-led models to help clients detect sequential patterns and buying behavior of customers. Our predictive and prescriptive analyses are capable of generating important insights based on the customer’s attribute and demographics, crucial in defining the right product association, detecting the medium through which a customer buys a product, points of sale and different marketing channels.
Techniques used

Market Basket Analysis
(Association Rules)

Attribute Based
Recommendation

Demographic Based
Recommendation

Possible outcomes with market basket analytics

Right store identification

Identification of the right point-of-sale or store to drive increased footfalls, run personalized promotions, boost sales and maximize profits.

Focused market strategies

Creation of customer segment based on their buying behaviors so as to improve ROI by precisely hyper-targeting the market.

Improved selling opportunities

Prediction of sales of products at right time and place to the right customer and driving campaigns to increase cross-sell and upsell possibilities.

Better SKU placements

Strategic placement of a product SKU next to the associated popular selling product SKUs to improve visibility and sales through products ‘bundling’.

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