Retail Analytics Case Study
Customers have more control over the retail process than ever before. Whether in-store or online, they expect instant gratification and customized shopping experiences. To compete in this market, retailers have to constantly meet the dynamic customer expectations. This is what makes the retail industry rely on customized research and retail analytics.
From niche shops, to major retailers and e-tailers, all players need insights to stay ahead of a customer base that’s getting larger and more diverse with each passing day. With digital channels significantly increasing customer choices, it’s vital that businesses use research and analysis to better serve customers and create new growth opportunities.
Retailers globally have placed their trust with DataToBiz for the insights they need.
How We Made Difference?
Medium sized Online grocery retail store operational in three cities
To increase average bucket size in order to increase overall profitability based on customer purchasing data.
Based on the market basket analysis, certain product combinations have been created by analysing the historical transactional data to run a marketing campaign. Customer segmentation have been done by using RFM framework & campaign have been targeted accordingly to get maximum conversions from the campaign. Predictive Churn modelling have also been considered while designing marketing campaigns.
Overall revenue have been increased by 10% within 15 days of campaign launch & business have been able to sustain 50% of increased revenue. Potential churning customers have also been identified to design targeted marketing campaigns.