A B2B2C Ecommerce business that sold a variety of brand merchandise products to employees of large IT and BPO companies wanted to understand what products customers bought together online. The insights would be used product placements on web pages and to decide on what products are to be bundled for offers.
Market Basket Analysis: Suggestive sales strategies for an Online Retailer
1. Market Basket Analysis:
Suggestive Selling Tools for an Online Business
A leading online brand merchandising company in India
2. A leading online brand merchandiser:
inTouch has delivered year-on-year benefits to
Market Basket Analysis several clients in a wide variety of businesses
– Consumer, Retail, Ecommerce, Food &
Beverages, Jewelry, Beauty & Healthcare,
Education, Satellite and Web Communication,
Petroleum, HR Services and more – over
several long term and on-demand
engagements for the past 5 years.
Founder CEO: The analytic solution is a breath of fresh air to us.
Salary Computational Tool for the largest
We want inTouch to soon turn this into an online, realtime sales
temp staffing business in India >> predicts
machine! market benchmarked salaries based on skills
and attrition scores
Manager – Online sales: Counter-intuitive insights that inTouch
generates get more and more interesting as you drill down!
S t o r i e s
Pricing and Discount Optimization for the
world’s largest Satellite Communication
business >> has delivered more than $100
million in potential annual savings for the
A B2B2C ecommerce business that sold a variety of brand
business
merchandise products to employees of large IT and BPO
companies wanted to understand what products customers
S u c c e s s
Sales Program Effectiveness for America’s
bought together online. The insights would be used to place
largest Air conditioning systems provider >>
products that sold together on the same page and to decide on has afforded visibility into rates of return
what products are to be bundled for offers. delivered by various marketing programs
across sales territories in North America
The number of product units retailed online was well in excess of
2,500 and there were about 20 categories in all. Data for online
Supply-Demand Matching & Optimization Tool
purchases made for 180 days was provided for analysis. for a large Staffing Service provider in India >>
has brought down doability turnaround from 3
weeks to across the table for the salesforce
The business challenge
Topline growth oriented rewards programs for
a market leading Filter Coffee business in India
inTouch was required to arrive at purchase likelihood estimates >> has delivered a 3-fold increase in revenues
across all products at unit and category levels. The business for 3 straight years for the 425 outlet chain
needed a visualization of the model along with prioritization of
product pairs and triplets in a way that it could also address
inventory issues. Customer Feedback Decision Support and
Smart Response System for India’s largest fine
dining restaurant chain and many more
market leading café and QSR chains >> drives
a significant percentage of repeat visits across
the 20 outlet restaurant chain
3. Analysis Techniques
inTouch made use of a data mining technique that involved the computation of two parameters
called Support and Confidence. The technique would first generate all permutations and
combinations of
product units that had Photo Pen Holder Photo Frame
sold together. It then 0.27 0.73
I Don't Sleep
computed values for Round Neck T-Shirt - (Men) I Didn't Get Smarter
0.324 0.622
Round neck T-Shirt - (M)
the above two Arrow Shirt White
0.35
parameters and Black Polo Neck 0.567
Van Heusen - Blue
T-Shirt - (Men)
organized the product 0. 35
0.54
Black I Didn't Get Smarter
combinations in Round neck T-Shirt - (M) Leather wallet
with white stitch
descending order of 0.35 0.486
Leather Pen Stand 0.432
their likelihood to sell
together. Magic Calculator with Pen
White Polo Neck T-Shirt - (Men)
Results
The analysis results illustrated cause and effect relationships along with Support metric values
for each of the pairs and triplets of products and product categories
The Business Solution
The client was provided with a drill up / down and rotational mechanism to identify and
measure the associative relationship that exists between the multitudes of product units. This
would help the business design the web pages and place products in way that maximized
opportunities for cross- and up-sell.
Bottomline
Across hundreds of service offerings, and potentially numerous permutations and
combinations, the business was able to choose those that are likely to result in high customer
response ratio. The business would now be able to predict, at a customer segment level, what
combination of products/offerings are likely to be bought more readily by customers.
4. Every day analytics
Assured Results and RoI
Incremental and scalable
Built and managed for your business
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