LONDON--(BUSINESS WIRE)--Quantzig, a global data analytics and advisory firm that delivers actionable analytics solutions to resolve complex business problems, has announced the completion of their latest market basket analysis engagement for a food retailer. This success story analyzes the factors that enabled the client to increase the effectiveness of their marketing campaigns and optimize the store layout to increase sales and profitability across their business units.
Owing to the rapid technological developments and digital shift, the retail industry has become highly fragmented and complex. To thrive in a complex business landscape retailers need specialized tools at their disposal to cater to the dynamic shifts in customer needs and preferences. Market basket analysis is one such tool. It empowers retailers to identify product groups that a customer is more likely to buy, given a previous purchase or a contemplated purchase history.
Request a free brochure of our analytics solutions to learn how market basket analysis solutions can help you develop customer-centric marketing strategies by identifying factors that drive consumer buying preferences and behaviors.
The Business Challenge
The client, a leading food retailer client based out of Germany, was looking to deploy the necessary warehouse architecture to support market basket analysis. Also, the client wanted to leverage market basket analysis to develop new cross-selling strategies and improve the store’s performance. The client faced challenges that spanned three core areas including:
- Inability to increase sales and reduce inventory
- Lack of analytical capabilities to identify relationships between products and customers
- Inability to create products and pricing models to generate new revenue
“By incorporating market basket data in BI tools businesses can develop precise strategies to meet their business goals,” says an analytics expert from Quantzig.
Talk to our analytics experts and learn how we can help you improve the effectiveness of your marketing campaigns significantly.
The Solution Offered & Value Delivered
The food retailer collaborated with Quantzig to leverage its expertise in offering market basket analysis solutions to gain meaningful insights into hidden customer purchase patterns. Quantzig’s market basket analysis engagement empowered the food retailer to:
- Devise profitable marketing strategies
- Witness a 15% decrease in the company’s overall marketing budget
- Increase quarterly sales by 50%
Gain limited-time complimentary access to our analytics platform and learn how our market basket analysis can help you improve customer loyalty and MROI.
Quantzig's market basket analysis engagement offered predictive insights on:
- Designing and deploying the new warehouse architecture
- Developing new products without compromising on the market trends
Quantzig’s analytics solution can help you gain actionable insights and make smarter decisions to future-proof your business. Learn more.
Recent Success Stories:
- Customer Segmentation Analytics for an Online Payment Services Provider
- Enhancing Sales Performance with the Help of Pricing Analytics for a Wine and Spirits Manufacturer
- Customer Segmentation Engagement Helped a Pharmaceutical Products Supplier to Bridge the Price Gaps and Improve Customer Retention by 4x - Quantzig’s Latest Success Story
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