Increasing the average basket by identifying cross-selling opportunities
Our client, a French auto parts manufacturer, aims to increase its average basket size by identifying cross-selling opportunities among their customers. Our approach will identify products that are sold together so that their sales team can cross-sell them together.
What we did
Challenge
Identify cross-selling opportunities based on millions of past transactions
Create and consolidate a structured database from sales of thousands of different SKUs
Deliver a solution easily accessible and usable by the sales team
Our approach
First step
Created a consolidated database that contained the information of 11 M transactions (5Y historic data) Second step
Developed an algorithm that calculated for a given product, the products that were most likely to be sold together Third step
Consolidated the results in several files that were used daily by the sales team
Outcome
Better understanding of customers purchasing habits and purchasing baskets
Daily usage of the solution by the sales team
500K€ / year additional revenues from additional cross-selling opportunities that would have been ignored without the solution Everyday usage of the solution
1M€ additional sales generated thanks to the cross-selling opportunities
