CXAIR for Retail: Basket Analysis

Develop sales strategies, maximise the effectiveness of your marketing activities, and optimize business operations, based on the insights generated from the customer data collected during the sales transaction process.

In an increasingly competitive retail world, the effort and cost associated with the acquisition of new customers is significant. Increasing the value of your existing customers by promoting sales through highly targeted marketing campaigns, effective product placement and more efficient operational processes is essential.

CXAIR for Retail: Basket Analysis allows you to seamlessly analyse transactional data from your EPOS (and other) systems and automatically rank and band it in real time based on the products purchased by the customer at the same time within the same ‘basket’. The ability to access details about the spending patterns of your existing customers provides valuable insights that can be used to create targeted marketing campaigns or as the basis for developing recommendations to upsell additional products where there are relationships and complementarities identified with products that have previously been purchased.

CXAIR for Retail provides us with actionable insight that allows us to make operational and organisational improvements when needed.

Shahanawaz Dalvi ,
IT Manager ,
Dubai Holding Group

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Benefits

  • Precision Marketing – Improve the efficiency of all types of marketing activity by creating closely targeted campaigns around products which the evidence suggests are most likely to appeal to existing customers (or potential clients who match a particular demographic profile) based on patterns of previous spend.
  • Store / Website Layout – Maximise sales by ensuring that the layout of your physical store or website is organized so that items which the basket analysis suggests that customers buy together are placed together to help ensure they are easily noticed.
  • Optimize Inventory Management - Predict future purchases by your customers based on the intelligence provided by basket analysis in order to ensure that stock levels are maintained in an optimal way designed to meet expected future levels of demand.
  • Product / Client Analysis – Real-time dashboards provide key management information about your product catalogue and customer base including top spenders, most popular products, basket mix, complimentary products, marketing campaign success rates, etc.
  • Flexible and scalable solution – Deploy a platform which can scale to handle billions of rows of transactional data and return results in lightning fast speed. No more data bottlenecks and waiting for answers to your business questions.
  • Detailed Analysis – Bring together information from a variety of different data sources to allow analysts to explore the data at a more granular level.
  • Cost Effective – Deploy a solution with the potential to transform your business at a cost which is less than you think!

Start building a closer relationship with your customers with CXAIR for Retail: Basket Analysis

Get in touch to discuss your requirements further