Three years ago when Shoppers Stop Ltd started its Big Data analytics programme, little did it know that Big Data would lead to big gains.
In one of its earliest analytics programmes, the company studied the buying patterns of members of its loyalty programme, First Citizen. Based on the insights, it developed targeted promotions for trousers. This led to around Rs.10 crore worth of additional sales in a three-week period for Shoppers Stop.
After analysing its First Citizen base, the company had observed that not all those who buy shirts also buy trousers. But those who buy both men’s shirts and trousers spend 60% more a year on average than those who buy only shirts, and thrice as much as those who don’t buy men’s shirts at all, said Vinay Bhatia, vice-president, marketing and loyalty, Shoppers Stop.
Read more at: Live Mint