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      Market Basket Analysis

      The Market Basket Report provides valuable insights into consumer purchasing behavior. By analyzing these reports, you can gain a deeper understanding of your customers' preferences and shopping patterns, ultimately optimizing your sales and advertising strategies. 

      Filter Options

      In the Market Basket Analysis, you can filter:

      • ASIN - you can choose the ASIN from your Catalog that you want to analyze
      • Brand - you can choose between your brands that are active and registered in brand registry 
      • Catalog Category - you can filter based on your category that you have filled in your emax digital catalog
      • Catalog Subcategory - you can filter based on your sub-category that you have filled in your emax digital catalog

       

      Market Basket Analysis - Main page

      General Combination Overview

      Upon accessing the dashboard's first page, users are provided with key insights into general combinations:

      • Total Combinations: This metric represents the overall number of combinations in the dataset, giving users a comprehensive understanding of the market basket data.

      • Own Brand Combinations: Users can view the percentage of combinations that include products from their own brand, aiding in targeted marketing strategies.

      • ASINs without Combinations: This metric highlights ASINs with no associations, prompting further investigation into potential product bundling opportunities.


      Top 20 Combinations Overview

      The second part of the first page showcases the top 20 combinations, including:

      • Top 20 Brand Combinations: Insights into the most frequent combinations involving specific brands, aiding in cross-selling strategies.

      • Top 20 Category Combinations (Own Categories): Analysis of top combinations within users' defined product categories, informing merchandising strategies.

      • Top 20 Category Combinations (Other Categories): Display of combinations involving categories outside the user's brand, uncovering market trends.


      Top ASINs with Their Combinations

      At the page's end, users can explore a detailed table featuring the top 20 ASINs and their top 3 combinations, allowing for granular insight into key products driving sales.

       

      Navigation for finer detail view 

      You can access the drill-downs either through the drop-down navigation on the left or via buttons on the main page.


      • All Combinations: Explore the complete set of combinations with your ASINs available 
      • Own Brand Combinations: Analyze combinations specifically involving products from your own brand.
      • Other Brand Combinations: Investigate combinations involving brands outside of your own brand portfolio.

       

      Use Cases

      1. Optimizing Product Bundling: Use Case: You notice that many customers who buy smartphones also add headphones to their carts. You can offer a special deal where customers get a discount if they buy both items together. This encourages customers to purchase more items in one go, increasing your sales.

      2. Enhancing Cross-Selling Opportunities: Use Case: You find that customers who buy facial cleansers often also purchase moisturizers. You can suggest moisturizers to customers who are buying facial cleansers, increasing the chances of them adding more items to their carts and boosting your sales.

      3. Inventory Management and Stock Replenishment: Use Case: You see that sales of winter coats increase along with scarves and gloves during colder months. You can make sure you have enough stock of scarves and gloves to meet the increased demand during winter, ensuring you don't run out of popular items.

      4. Targeted Promotions and Discounts: Use Case: You discover that many customers who buy yoga mats also buy resistance bands. You can offer a discount on resistance bands to customers who purchase a yoga mat, encouraging them to buy more items and increasing your sales.

      5. New Product Development and Expansion: Use Case: You notice that customers who buy artisanal cheeses often also buy fine wines. You can introduce curated cheese and wine gift sets to cater to this trend, attracting more customers and expanding your product range.

      6. Competitive Analysis and Strategy Adjustment: Use Case: You compare your sales trends with those of your competitors and see that there's a growing demand for smart home devices alongside kitchen appliances. You decide to start selling smart home products to stay ahead of the competition and meet customer demands.