Retail Market Basket Analyzer
Retailers recognize the importance of analyzing market basket data to better understand customer shopping behavior but lack the tools to link these analyses to business value. APT Market Basket Analyzer unleashes the value of this data by putting basket-level insights in the hands of decision-makers who can turn these insights into actionable recommendations that drive profitability.
APT Market Basket Analyzer handles historical transaction data for all transactions in every store at the individual item level and, with a user-friendly interface and high-speed analytic capability, allows business users to perform basket-level analyses and obtain basket-level insights in a timely fashion.
APT Value Creation
APT Market Basket Analyzer answers specific business questions, such as:
Which SKUs or products should be cut from my offering?
APT Market Basket Analyzer evaluates each SKU not just based on its own sales and GMROI, but also on how much margin attaches to it in the basket and how willing customers are to switch to competing products. This provides a more complete picture of the economic impact of removing a product from the assortment.
Which products should I promote?
APT Market Basket Analyzer identifies which products occur in large, high-margin baskets and are popular with high-value customers. In conjunction with APT Test & Learn™, it analyzes past promotions to quantify which promoted products were most effective at pulling through sales of other products.
How should I structure my price promotions?
Price-based promotions, such as “25% off” and “buy 2 items get $1 off,” are always a trade-off: forfeit revenue on some transactions in order to generate incremental transactions and sales. APT Market Basket Analyzer parses historical transaction patterns in order to determine the margin exposure of any promotion before it is run.
How do I maximize the impact of new product introductions?
By analyzing what other products are typically bought in the same basket as the new product, retailers can modify displays and marketing strategies to maximize the benefit of the new product.