Basket Analysis in Practice: Mathematical Models and Applications in Offline Retail

Carsten Moldenhauer and Henning Zwirnmann
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Carsten Moldenhauer: Horváth & Partners
Henning Zwirnmann: Horváth & Partners

A chapter in Performance Management in Retail and the Consumer Goods Industry, 2019, pp 369-384 from Springer

Abstract: Abstract The foundation of every business model is a deep understanding of the customers’ preferences. Basket analysis can be used to reveal valuable insights into these preferences by analyzing massive transactional data sets that are nowadays available to bricks-and-mortar retailers. Within this contribution we review some of the requirements and mathematical methods that comprise the term basket analysis. Further, we discuss applications that leverage the discovered information and outline some of the challenges that the authors faced when applying basket analysis techniques in practice.

Keywords: Basket analysis; Data analysis; Descriptive statistics; Offline retail; Shopping cart analysis; Shopping behavior (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-12730-5_24

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DOI: 10.1007/978-3-030-12730-5_24

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