RETAIL TRAFFIC ANALYTICS

EVALUATION OF CONTINUITY INCENTIVE PROGRAM IMPACT ON TRAFFIC AND PROFITS

Capability: Consumer Demand Analytics

Axiom Tools: Time Series Regression Analytics Data Mining

Business Objective

  • Identify retail consumer demand in regional store locations
  • Measure economic impact of incentive program strategies

Strategy

  • Mine government and private data sources (i.e. Bureau of Economic Analysis, Bureau of Labor Statistics and Census)
  • Preform trend analysis modeling to show the consumer spending share for specialty retail store categories
  • Preform time series analysis on client POS sales data
  • Isolate deviations from normal in long term regional sales trends
  • Integrate time series components into multivariate regression models
  • Replace existing local sales modeling formulas

Results

  • Defined consumer traffic model to significantly improve sales forecast accuracy
  • Modified promotion strategies to anticipate cyclic consumer demand

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