Problem Statement
Analyze the data to assess the potential for increasing demand for school and office supplies at DW Store. Currently, these products represent one of the least successful segments in the store. However, there is an opportunity to attract new customers to this category.
Potential to increase demand
The goal is to identify ideas from data that could potentially increase demand for school products. By analyzing spending data alongside demographics and time series data, we can gain valuable insights into segment performance. This information allows us to implement targeted campaigns at the optimal times of the year, reaching the right audiences to generate interest.
Inference from data
Our data set contains transaction data, demographics data, campaigns data and product information. We will be focusing and transactions and demographics data to understand the segment performance.
We will load the data into a data frame before we analyse the data for insights.
Performance over an year
We will take a look at how well School Products have performed over an year. As we can see from the graph, the peak interest periods are late summer and holiday season at the end of the year. This shows there is opportunity to trigger interests during other parts of the year such as spring break, fall break etc.
Interests from Households
Ideal shoppers for school and office products would be family with kids. When we look at the most prolific shoppers of this segment, we understand it is the family with no kids that shop the most. There is a great opportunity here to target families with kids with ad-campaigns to gain thier interest in shopping at DW store for school and office supplies.
How does shoppers from various Age buckets do in this segment
It is interesting to note the people from the 40s and 50s are the most common shoppers in this segment. DW store should device a strategy to run campaigns on younger demographics who are still going to school/colleges. There is a lot of potential buyers in that segment who can increase the demand for this segment.
Conclusion
While School supplies and Stationary are not the most popular products in the store, we can definitely infer from the data there are ways to improve demand. DW Store must focus on running campaigns to households with kids as well as younger aged customers who are the likeliest of customers for this segment. Generating traction in these demographic segments would definitely improve the sales of the products.