Capitalising product associations in a supermarket retail environment

Capitalising product associations in a supermarket retail environment

This paper explores methods to capitalise on retail companies’ transactional databases, to mine meaningful product associations, and to design product placement strategies as a means to drive sales. We implemented three in-store initiatives based on our hypotheses – placing products with high associ...

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Bibliographic Details
Main Authors: CHEONG, Michelle L. F., CHIA, Yong Qing
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2020
Subjects:
Association Mining
Market Basket Analysis
Shopper Marketing
MITB student
Asian Studies
Computer Sciences
Databases and Information Systems
Sales and Merchandising
Online Access:https://ink.library.smu.edu.sg/sis_research/5430
https://ink.library.smu.edu.sg/context/sis_research/article/6433/viewcontent/Supermarket_2020_DSI_pv.pdf
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Institution: Singapore Management University
Language: English
Description
Summary:This paper explores methods to capitalise on retail companies’ transactional databases, to mine meaningful product associations, and to design product placement strategies as a means to drive sales. We implemented three in-store initiatives based on our hypotheses – placing products with high associations together will induce an increase in sales of consequent; introducing an antecedent that is new to store will bring about a similar impact on sales of consequent based on established product association rules uncovered from other stores. Sales tracking over twelve weeks revealed that there were improvements in sales of consequents across all three initiatives performed in-store.

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