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Who purchases your magazine at newsstand?
What is MarketBasket research?
An analysis of a household's retail purchases based on the items
bought during each shopping trip usually conducted with the use of
frequent shopper (loyalty) card data to track purchase trends by
household over time.
What value does MarketBasket research provide to the manufacturer?
- The purchase behavior of the buyer of a specific product or product line (category).
- How often a buyer shops
- How much a buyer spends
- How often a specific product is bought
- How many of a specific product are bought during a shopping trip
- What other products are bought when a specific item is purchased
- How does a frequent buyer compare to an occasional buyer?
- What competitive/complimentary items are purchased
- What departments of the store are shopped
- The purchase behavior of the non-buyer of a specific product or product line (category)
- How does the shopping behavior of the non-buyer of a specific product compare to that of the buyer?
- How much does the non-buyer spend versus the buyer?
- How often does the non-buyer shop versus the buyer?
- Does the non-buyer purchase competitive products?
- What departments of the store does the non-buyer frequent?
- A demographic profile of the buyer and non-buyer of a specific product
- Age
- Income
- Education
- Family Size
- How is MarketBasket data actionable?
- Increase response to point-of-sale promotion offers by better capitalizing on buyer behavior
- Identify opportunities among non-buyers for conversion offers
- Locate other product placement opportunities based on buyer behavior
- Develop cross-promotion programs with related products/categories
- Improve in-store product mix based on purchase patterns
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