Market Basket Analysis

Actionable insights for cross selling across brands

Major consumer packaged goods manufacturer

Challenge

  • Client was looking for innovative ideas to improve sales.
  • Business needed better means to get an edge over competition other than promotions.
  • A lot of data from various sources were available however it was organized enough to make insights out of it.
  • Identifying products that may often be purchased together and arranging the placement of those items close by to encourage the purchaser to buy similar items.

Solution

  • Analysis of consumer level transactional data to better understand and anticipate consumer needs by highlighting purchasing patterns.
  • Identifying products that may often be purchased together and arranging the placement of those items close by to encourage the purchaser to buy similar items.
  • Association Rules are used to predict the likelihood of products being purchased together.

Technologies

Benefits

  • Cross sell models combined with marketing automation for retaining more consumers and generating more sales.
  • Opportunity to rekindle relationship with a different brand.
  • Increase in sales . Better shopping experience.
  • Potential to identify actionable signals across penetration using basket adjacency, life cycle management and premiumization.