How to identify advertisement opportunities for products with high affinity and improve sales? | Quantzig

LONDON–(BUSINESS WIRE)–Quantzig, a global analytics and advisory firm that delivers market
analytics solutions to resolve complex business problems, announced the
completion of their latest market
basket analysis study for a leading food retailer.

The client is a well-known player in the food retail industry
with 300+ stores located across different geographical locations. With
continuous changes in the food retail industry, the client was finding
it difficult to track the changing customer purchasing behaviors. They
wanted to leverage Quantzig’s analytics solutions to predict their
purchasing patterns and make well-informed business decisions regarding
products promotions, product placements, displays, target messaging, and
store segmentation.

Market basket analysis is an effective technique used by large retailers
to uncover associations between items. It offers detailed insights into
transactional datasets, which helps retailers to analyze relationships
between the items that people buy. Such techniques also help retailers
to identify product combinations that frequently co-occur in
transactions and determine associations between customers and their
purchase patterns. The data obtained from market basket analysis can be
leveraged by retailers to devise effective pricing models to improve
revenue.

“Market basket analysis solutions offer in-depth insights into how
purchases of products correlate with customers’ needs and helps them
identify unique cross-sell and up-sell propositions,”
says an
expert from Quantzig.

Request
a free proposal
if you need help conducting an effective
market basket analysis.

Quantzig’s market experts leveraged transaction-level customer data to
devise a data model that can support market basket analysis as the
client did not have a data management system. This helped them to
enhance marketing effectiveness and identify advertisement opportunities
for products with high affinity. The market basket analysis conducted by
Quantzig also helped them analyze the overall effectiveness of the
marketing campaigns and reduce the company’s marketing spend by 7%.
Based on the expertise delivered by Quantzig, the client was able to
predict future purchases of customers over a period of time, which
helped them in accurate allocations of resources to different items of
the inventory.

To access our BI and business analytics dashboard free of cost for a
limited time,
book
a free solution demo now!

Quantzig’s market basket analysis approach
helped the client to:

  • Reduction in the company’s marketing spend by 7%.
  • Identify advertisement opportunities for products with high affinity.
  • Want to improve your market basket analysis approach, Get
    in touch
    .

Quantzig’s market basket analysis solution
offered predictive insights on:

  • Analyzing the overall effectiveness of the marketing campaigns.
  • Developing ETL processes for incremental data.
  • To know more about solutions to challenges facing the food retail
    industry,
    Request
    more information
    .

About Quantzig

Quantzig
is a global analytics and advisory firm with offices in the US, UK,
Canada, China, and India. For more than 15 years, we have assisted our
clients across the globe with end-to-end data modeling capabilities to
leverage analytics for prudent decision making. Today, our firm consists
of 120+ clients, including 45 Fortune 500 companies. For more
information on our engagement policies and pricing plans, visit:
https://www.quantzig.com/request-for-proposal