Understanding the product relationships in the market basket is key to driving up the order size or basket size. Adding one more item to 10% of the baskets can increase sales by 5%.
The document discusses market basket analysis and the Apriori algorithm. Market basket analysis is used to discover frequent item sets purchased together in transaction data. The Apriori algorithm is used to find these frequent item sets by scanning transactions to count item occurrences, filtering out infrequent items, and generating candidate item sets. Frequent item sets can be used for applications like cross-selling items, proper item placement, fraud detection, understanding customer behavior, and affinity promotion.
Real-time Market Basket Analysis for Retail with HadoopDataWorks Summit
This document discusses using Hadoop to perform real-time market basket analysis for retailers. It describes running association rule mining algorithms on large transaction data to identify related products purchased together. The results are integrated into a business intelligence dashboard to help retailers with promotional strategies, store layouts, and other decisions. An example is given of an Italian fashion company analyzing over 100 million receipts to improve marketing campaigns. Future work involves developing a full framework enabling users to customize advanced data mining on big data sources through Hadoop and BI tools.
Predictive Analytics - Basket Analysis - Transactions Analysis - SAP Predictive Analytics 2.4 - Right Marketing Offer - General Introduction to the topic - Screenshots SAP PA2.4 -
Data mining- Association Analysis -market basketSwapnil Soni
This document analyzes consumer transaction data using association rule mining to understand purchasing patterns. It pre-processes the sparse dataset by pruning items with less than 2% support. Association rules are generated at different support and confidence levels, with more rules found at lower thresholds. The top rules show related purchases. A decision tree also predicts dairy purchases, with some common rules between the unsupervised and supervised models. Association mining is recommended for market basket analysis due to its ability to handle sparse data and generate simple, interpretable rules for cross-selling opportunities.
This document discusses using data mining and market basket analysis techniques to analyze customer purchasing patterns. Market basket analysis examines what products customers frequently purchase together to identify association rules between items. This can help retailers with store layout, promotions, and targeting customers. The document outlines the steps in market basket analysis, including data integration, classification, association rule mining, and visualization tools to analyze customer transactions and identify related products that are commonly purchased together. Examples are given of how association rules have identified that customers often buy shampoo and conditioner or flour and eggs together.
This document discusses market basket analysis, which involves finding associations between items that are frequently purchased together. It defines association rules and how their strength is measured by support and confidence factors. The basic process of market basket analysis is described as choosing an appropriate item set, generating rules from the co-occurrence matrix, and identifying useful rules. Situations where market basket analysis can be applied and its strengths and weaknesses are also summarized. Finally, it discusses dissociation rules and poses some review questions.
The document discusses market basket analysis and the Apriori algorithm. Market basket analysis is used to discover frequent item sets purchased together in transaction data. The Apriori algorithm is used to find these frequent item sets by scanning transactions to count item occurrences, filtering out infrequent items, and generating candidate item sets. Frequent item sets can be used for applications like cross-selling items, proper item placement, fraud detection, understanding customer behavior, and affinity promotion.
Real-time Market Basket Analysis for Retail with HadoopDataWorks Summit
This document discusses using Hadoop to perform real-time market basket analysis for retailers. It describes running association rule mining algorithms on large transaction data to identify related products purchased together. The results are integrated into a business intelligence dashboard to help retailers with promotional strategies, store layouts, and other decisions. An example is given of an Italian fashion company analyzing over 100 million receipts to improve marketing campaigns. Future work involves developing a full framework enabling users to customize advanced data mining on big data sources through Hadoop and BI tools.
Predictive Analytics - Basket Analysis - Transactions Analysis - SAP Predictive Analytics 2.4 - Right Marketing Offer - General Introduction to the topic - Screenshots SAP PA2.4 -
Data mining- Association Analysis -market basketSwapnil Soni
This document analyzes consumer transaction data using association rule mining to understand purchasing patterns. It pre-processes the sparse dataset by pruning items with less than 2% support. Association rules are generated at different support and confidence levels, with more rules found at lower thresholds. The top rules show related purchases. A decision tree also predicts dairy purchases, with some common rules between the unsupervised and supervised models. Association mining is recommended for market basket analysis due to its ability to handle sparse data and generate simple, interpretable rules for cross-selling opportunities.
This document discusses using data mining and market basket analysis techniques to analyze customer purchasing patterns. Market basket analysis examines what products customers frequently purchase together to identify association rules between items. This can help retailers with store layout, promotions, and targeting customers. The document outlines the steps in market basket analysis, including data integration, classification, association rule mining, and visualization tools to analyze customer transactions and identify related products that are commonly purchased together. Examples are given of how association rules have identified that customers often buy shampoo and conditioner or flour and eggs together.
This document discusses market basket analysis, which involves finding associations between items that are frequently purchased together. It defines association rules and how their strength is measured by support and confidence factors. The basic process of market basket analysis is described as choosing an appropriate item set, generating rules from the co-occurrence matrix, and identifying useful rules. Situations where market basket analysis can be applied and its strengths and weaknesses are also summarized. Finally, it discusses dissociation rules and poses some review questions.
Increasing sales is based on knowing “what items are bought together” so that retailers and distributors can improve merchandising and drive more sales through all channels. As shoppers, we all buy items in groups. It is the task of the retailers to figure out what kind of items are bought together, to optimize merchandising and increase revenue.
10 shopping tips on how to save money on groceriesListonic
Grocery shopping can be expensive, and that’s why any tips that can help us know how to save money on groceries are always welcome. Of course, there is no magic formula. But using one or all of the following tips will help keep the cost of your groceries down.
This document proposes that supermarkets should allow consumers more control over pricing by letting them pay the price they choose whenever they meet certain spending thresholds. This would help capture more of each customer's spending and increase store sales and profits. The document advocates tailoring product assortments and pricing strategies to the unique demands of each store's customers to improve stock levels and reduce costs. Examples are given showing how giving customers a consistent "stock up" discount price could increase loyalty and share of wallet.
This document proposes that supermarkets should allow consumers more control over pricing by letting them pay the price they choose whenever they meet certain transaction thresholds. This would build loyalty and increase spending by making the store feel like it always offers the best prices. Stores could tailor product assortments specifically to their local customers to better meet their demands. Executing this approach would simplify inventory management and reduce costs while improving the shopping experience.
The document provides tips and strategies for saving money on groceries, including planning meals and shopping with a list, using coupons, buying store brands and sale items, and budgeting. It discusses how grocery stores are designed to increase spending and provides a true/false quiz on savvy shopping. It also outlines steps to cut your grocery bill in half such as stocking up on sales, combining coupons with sales, and making meals from leftovers.
Bni 5 minute presintation the psychology of retailing facts and interesting s...RogerDecs
This is a short presentation of 5 minute presented to the BNI (Business Network International) Legacy chapter on the 12th Feb 2015, as part of the guest speaker program.
Enjoy !
What really ends up in the shopping basket isegail
When it comes to those purchases where the consumer has greater freedom of choice, they will spend more time considering their options in the aisles.
This is the major reason why savvy Brand marketers are turning to product packaging design to deliver competitive advantage at the shelf. Discover consumers Needs and Wants
The document provides a book review of Paco Underhill's book "Why We Buy". The 3-page review summarizes key chapters and concepts from the book. It discusses how the book examines consumer behavior in retail stores through extensive research and tracking of shopper movements. It highlights factors like hand-allotment, sign placement, shopper paths, and dynamic needs that affect purchasing. The review analyzes the concepts and their relevance for both physical and online retail environments.
How to Start a Retail Business: 7 Steps to SuccessVend
Welcome to our retail startup guide—a comprehensive “retail roadmap” that walks you through the ups and downs (and sometimes confusing parts) of setting up a brick-and-mortar store. You’ll learn how to choose what products to sell, how to select the right location, how to finance your venture, and more.
Introduction to Modern Retailers and ConsumersNupur Samaddar
This document provides an overview of modern retailers and consumer behavior. It discusses different types of retailers like department stores, chain stores, franchises, and discount houses. It also looks at non-store retailing models and trends like warehouse style stores and second-hand retailers. The document then examines different retail archetypes for the future like lowest cost, convenience-location, and platform operator models. It analyzes consumer spending trends and preferences, like most shoppers still spending the majority in brick-and-mortar stores and valuing an in-store experience. Finally, it reviews characteristics of different consumer demographics like millennials' preference for digital engagement.
Retail Dictionary: 40 Retail Terms Every Modern Retailer Needs To KnowVend
This document provides definitions for 40 retail terms that every modern retailer needs to know. It begins by explaining the purpose of the retail dictionary and then provides the definition and an example for each term. Some of the terms defined include anchor store, big box store, big data, brick and click, cashwrap, click and collect, and cross merchandising. For several terms it also provides a short expert commentary on the significance and impact of the term.
The document provides advice for evaluating the viability of leasing space in an antique mall. It cautions that antique malls often prey on inexperienced would-be dealers and recommends doing thorough research. Key questions to ask include determining dealer turnover rates, the exclusives policy and its impact, booth locations that are most profitable, the required inventory investment to be successful, the mall's marketing efforts and customer demographics, and security issues like shoplifting. The overall message is to carefully consider the business realities rather than just the rosy picture presented by the mall's owners.
Multiple seniors have been misled into the 'antique mall booth' business. Few have shown a profit, most have lost money.
Perhaps more insidiously, seniors attempting to downsize and clear the clutter from their homes end up with more possessions, increased frustration and suffering from emotional distress as a direct result of their antique mall experience.
Antique malls rely on eighty percent of their tenants who make no profit with no hope of making profit to cover their overhead and carry the twenty percent of tenant who are able to show a profit.
This slide share explains how to create a financial model to understand the value of the inventory which must be carried, the turnover required and the cost per square foot to support that business plan in order to achieve even a small return on investment. Breaking even is a (pipe) dream for most seniors in this business. Antique mall owners know this and are constantly on the prowl for new recruits.
5 Things Online Retailers Should Consider When Opening a Brick-and-Mortar Sto...Anoop Ashok
Now that more retailers are embracing various platforms to sell their items, visual merchandising planograms have become an important tool to maximize sales regardless of the channel. Planogram aids retailers in shelf planning and optimizing the availability of shelf space for the right product at the right time and place. A well-designed planogram can be vital in motivating shoppers to purchase items other than the ones they are specifically seeking.
The document summarizes the results of a shopper research study conducted in Greece. It finds that consumers do their main grocery purchases an average of 3.1 times per month, while complementary purchases occur on average 9.6 times monthly. On average, 200,000 drachmas (about €600) are spent each month, with 65% on food and snacks, 19% on body care and household products, and 16% on beverages. The most important factors for shoppers are quality, ease and speed of shopping, price-value ratio, proximity, and low prices. Hypermarkets and supermarkets are preferred as they can cover all family needs, offer variety, and have products easily available.
This document provides tips for convenience store owners to double in-store sales, including understanding store foot traffic, knowing the local marketplace, properly pricing products, using in-store marketing, and tracking sales data. Key recommendations are to minimize product footprint for better store placement, add high-demand items and services, and leverage sales data from Nielsen to identify trends and fine-tune marketing strategies. Understanding these factors can help get products placed on store counters and scaled nationally within two months.
In this report we look at shoppers’ behaviour both before and after the shop but not at their behaviour whilst in-store. We will see how shoppers plan their grocery shop (if at all) and how much food they have in their homes in stock. Then we take a look at when individual meals are planned.
Specifically, we will look at Food & Grocery shoppers’ behaviour in relation to:
Stock Items – Overview of two meal occasions
Planning Shopping trips – When and how trips are planned, and how they differ to the actual shop that happens
Shopping lists – The types of shopping lists that are used and the mission they are used on
Planning meals – When meals planning occurs and how far in advance individual meals are planned
1) While it is commonly believed that 70% of decisions are made in-store and 68% of purchases are impulse buys, the author's research found these numbers are too high. Through interviewing over 11,000 shoppers, they found only 20% of purchases were truly unplanned.
2) Brand loyalty levels are actually around 83% on average, though this still leaves 17% of the market open to switching.
3) Given the short amount of time shoppers spend browsing each product (35 seconds on average), in-store marketing likely has less influence on purchases than commonly thought. Though it can still convince some shoppers to switch brands.
4) Understanding shoppers' decision processes and
The document discusses how shopper behavior is changing due to time constraints and lifestyle changes. It analyzes different shopper need states and how retailers can adapt merchandising and store layout to satisfy these evolving needs. Key insights include that cleanliness, selection, and convenience are very important to shoppers. The beverage category can be organized into different consumer need states that retailers should clearly message to drive shopper conversion.
The document provides an overview of savvy shopping and couponing including how to save money, where to find coupons, how to organize coupons, and how the Savvy Shopper program works. It explains that couponing can save 50-70% on groceries, help prepare your pantry and budget, and donate food to those in need. Coupons can be found in newspapers like the Daily Herald and directly from manufacturers. The program teaches how to shop smart by using coupons when items are on sale, and stocking up on staples.
Discover the Beauty and Functionality of The Expert Remodeling Serviceobriengroupinc04
Unlock your kitchen's true potential with expert remodeling services from O'Brien Group Inc. Transform your space into a functional, modern, and luxurious haven with their experienced professionals. From layout reconfiguration to high-end upgrades, they deliver stunning results tailored to your style and needs. Visit obriengroupinc.com to elevate your kitchen's beauty and functionality today.
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Similar to Increasing Order Size With Basket Analysis
Increasing sales is based on knowing “what items are bought together” so that retailers and distributors can improve merchandising and drive more sales through all channels. As shoppers, we all buy items in groups. It is the task of the retailers to figure out what kind of items are bought together, to optimize merchandising and increase revenue.
10 shopping tips on how to save money on groceriesListonic
Grocery shopping can be expensive, and that’s why any tips that can help us know how to save money on groceries are always welcome. Of course, there is no magic formula. But using one or all of the following tips will help keep the cost of your groceries down.
This document proposes that supermarkets should allow consumers more control over pricing by letting them pay the price they choose whenever they meet certain spending thresholds. This would help capture more of each customer's spending and increase store sales and profits. The document advocates tailoring product assortments and pricing strategies to the unique demands of each store's customers to improve stock levels and reduce costs. Examples are given showing how giving customers a consistent "stock up" discount price could increase loyalty and share of wallet.
This document proposes that supermarkets should allow consumers more control over pricing by letting them pay the price they choose whenever they meet certain transaction thresholds. This would build loyalty and increase spending by making the store feel like it always offers the best prices. Stores could tailor product assortments specifically to their local customers to better meet their demands. Executing this approach would simplify inventory management and reduce costs while improving the shopping experience.
The document provides tips and strategies for saving money on groceries, including planning meals and shopping with a list, using coupons, buying store brands and sale items, and budgeting. It discusses how grocery stores are designed to increase spending and provides a true/false quiz on savvy shopping. It also outlines steps to cut your grocery bill in half such as stocking up on sales, combining coupons with sales, and making meals from leftovers.
Bni 5 minute presintation the psychology of retailing facts and interesting s...RogerDecs
This is a short presentation of 5 minute presented to the BNI (Business Network International) Legacy chapter on the 12th Feb 2015, as part of the guest speaker program.
Enjoy !
What really ends up in the shopping basket isegail
When it comes to those purchases where the consumer has greater freedom of choice, they will spend more time considering their options in the aisles.
This is the major reason why savvy Brand marketers are turning to product packaging design to deliver competitive advantage at the shelf. Discover consumers Needs and Wants
The document provides a book review of Paco Underhill's book "Why We Buy". The 3-page review summarizes key chapters and concepts from the book. It discusses how the book examines consumer behavior in retail stores through extensive research and tracking of shopper movements. It highlights factors like hand-allotment, sign placement, shopper paths, and dynamic needs that affect purchasing. The review analyzes the concepts and their relevance for both physical and online retail environments.
How to Start a Retail Business: 7 Steps to SuccessVend
Welcome to our retail startup guide—a comprehensive “retail roadmap” that walks you through the ups and downs (and sometimes confusing parts) of setting up a brick-and-mortar store. You’ll learn how to choose what products to sell, how to select the right location, how to finance your venture, and more.
Introduction to Modern Retailers and ConsumersNupur Samaddar
This document provides an overview of modern retailers and consumer behavior. It discusses different types of retailers like department stores, chain stores, franchises, and discount houses. It also looks at non-store retailing models and trends like warehouse style stores and second-hand retailers. The document then examines different retail archetypes for the future like lowest cost, convenience-location, and platform operator models. It analyzes consumer spending trends and preferences, like most shoppers still spending the majority in brick-and-mortar stores and valuing an in-store experience. Finally, it reviews characteristics of different consumer demographics like millennials' preference for digital engagement.
Retail Dictionary: 40 Retail Terms Every Modern Retailer Needs To KnowVend
This document provides definitions for 40 retail terms that every modern retailer needs to know. It begins by explaining the purpose of the retail dictionary and then provides the definition and an example for each term. Some of the terms defined include anchor store, big box store, big data, brick and click, cashwrap, click and collect, and cross merchandising. For several terms it also provides a short expert commentary on the significance and impact of the term.
The document provides advice for evaluating the viability of leasing space in an antique mall. It cautions that antique malls often prey on inexperienced would-be dealers and recommends doing thorough research. Key questions to ask include determining dealer turnover rates, the exclusives policy and its impact, booth locations that are most profitable, the required inventory investment to be successful, the mall's marketing efforts and customer demographics, and security issues like shoplifting. The overall message is to carefully consider the business realities rather than just the rosy picture presented by the mall's owners.
Multiple seniors have been misled into the 'antique mall booth' business. Few have shown a profit, most have lost money.
Perhaps more insidiously, seniors attempting to downsize and clear the clutter from their homes end up with more possessions, increased frustration and suffering from emotional distress as a direct result of their antique mall experience.
Antique malls rely on eighty percent of their tenants who make no profit with no hope of making profit to cover their overhead and carry the twenty percent of tenant who are able to show a profit.
This slide share explains how to create a financial model to understand the value of the inventory which must be carried, the turnover required and the cost per square foot to support that business plan in order to achieve even a small return on investment. Breaking even is a (pipe) dream for most seniors in this business. Antique mall owners know this and are constantly on the prowl for new recruits.
5 Things Online Retailers Should Consider When Opening a Brick-and-Mortar Sto...Anoop Ashok
Now that more retailers are embracing various platforms to sell their items, visual merchandising planograms have become an important tool to maximize sales regardless of the channel. Planogram aids retailers in shelf planning and optimizing the availability of shelf space for the right product at the right time and place. A well-designed planogram can be vital in motivating shoppers to purchase items other than the ones they are specifically seeking.
The document summarizes the results of a shopper research study conducted in Greece. It finds that consumers do their main grocery purchases an average of 3.1 times per month, while complementary purchases occur on average 9.6 times monthly. On average, 200,000 drachmas (about €600) are spent each month, with 65% on food and snacks, 19% on body care and household products, and 16% on beverages. The most important factors for shoppers are quality, ease and speed of shopping, price-value ratio, proximity, and low prices. Hypermarkets and supermarkets are preferred as they can cover all family needs, offer variety, and have products easily available.
This document provides tips for convenience store owners to double in-store sales, including understanding store foot traffic, knowing the local marketplace, properly pricing products, using in-store marketing, and tracking sales data. Key recommendations are to minimize product footprint for better store placement, add high-demand items and services, and leverage sales data from Nielsen to identify trends and fine-tune marketing strategies. Understanding these factors can help get products placed on store counters and scaled nationally within two months.
In this report we look at shoppers’ behaviour both before and after the shop but not at their behaviour whilst in-store. We will see how shoppers plan their grocery shop (if at all) and how much food they have in their homes in stock. Then we take a look at when individual meals are planned.
Specifically, we will look at Food & Grocery shoppers’ behaviour in relation to:
Stock Items – Overview of two meal occasions
Planning Shopping trips – When and how trips are planned, and how they differ to the actual shop that happens
Shopping lists – The types of shopping lists that are used and the mission they are used on
Planning meals – When meals planning occurs and how far in advance individual meals are planned
1) While it is commonly believed that 70% of decisions are made in-store and 68% of purchases are impulse buys, the author's research found these numbers are too high. Through interviewing over 11,000 shoppers, they found only 20% of purchases were truly unplanned.
2) Brand loyalty levels are actually around 83% on average, though this still leaves 17% of the market open to switching.
3) Given the short amount of time shoppers spend browsing each product (35 seconds on average), in-store marketing likely has less influence on purchases than commonly thought. Though it can still convince some shoppers to switch brands.
4) Understanding shoppers' decision processes and
The document discusses how shopper behavior is changing due to time constraints and lifestyle changes. It analyzes different shopper need states and how retailers can adapt merchandising and store layout to satisfy these evolving needs. Key insights include that cleanliness, selection, and convenience are very important to shoppers. The beverage category can be organized into different consumer need states that retailers should clearly message to drive shopper conversion.
The document provides an overview of savvy shopping and couponing including how to save money, where to find coupons, how to organize coupons, and how the Savvy Shopper program works. It explains that couponing can save 50-70% on groceries, help prepare your pantry and budget, and donate food to those in need. Coupons can be found in newspapers like the Daily Herald and directly from manufacturers. The program teaches how to shop smart by using coupons when items are on sale, and stocking up on staples.
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Discover the Beauty and Functionality of The Expert Remodeling Serviceobriengroupinc04
Unlock your kitchen's true potential with expert remodeling services from O'Brien Group Inc. Transform your space into a functional, modern, and luxurious haven with their experienced professionals. From layout reconfiguration to high-end upgrades, they deliver stunning results tailored to your style and needs. Visit obriengroupinc.com to elevate your kitchen's beauty and functionality today.
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During the budget session of 2024-25, the finance minister, Nirmala Sitharaman, introduced the “solar Rooftop scheme,” also known as “PM Surya Ghar Muft Bijli Yojana.” It is a subsidy offered to those who wish to put up solar panels in their homes using domestic power systems. Additionally, adopting photovoltaic technology at home allows you to lower your monthly electricity expenses. Today in this blog we will talk all about what is the PM Surya Ghar Muft Bijli Yojana. How does it work? Who is eligible for this yojana and all the other things related to this scheme?
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4. Emcien: Increasing Order Size With Basket Analysis
None of these 1,800 SKUs are top sellers! But when they are
purchased, they are very often paired with other items.
This level of SKU intelligence is key to increasing basket size and ensuring the store
is carrying the right items.
There basket analysis also showed the low‐frequency/high‐correlation SKUs. Every
retailer knows the challenge with these items. These items sell rarely, they sit on the
shelf for along time, and when it is placed in a basket it will only sell if the paired
item is available! These are problem SKUs because they are capital hogs and always
show up in inventory issues.
The SKU management is a tremendous challenge because the
buying pattern is truly a long tail.
www.emcien.com Page 4 of 6