- Student Group: Northwestern University Master of Science in Analytics (MSiA)
- Team Members: Vincent, Daniel, Chris, Phyllis, Zili
1. Purpose and Objectives
- Analyze the factors that affect repurchasing behavior.
- Explore the impact of the shoprunner network on its individual retailers.
- Focal Retailers: a focal retailer is any retailer that a customer has already made a purchase from.
2. Dataset
- 36000 customers
- 12000 repeat customers
- Purchase Dates
- Spend
- Store Information
3. Impact
- 33% customer repurchase
- 82% sales revenue comes from repurchasers
4. Model
- Discrete Time Survival Model with logistic regression
5. Possible factors for repurchases
- Focal Retailer:
- How many purchases did a customer make at focal retailer
- How many month since a customer’s last purchase at the focal retailer
- Shoprunner Network:
- How many times did a customer shop at a retailer category different from the retailer than their focal retailer
- How many times did a customer shop at the same retailer category as their focal retailer
- Control:
- Is it a holiday season
6. Feature Creation
- Aggregated by Month
- Recency: The amount of time since a focal purchase
- Frequency:
- Cumulative number of focal purchases
- Cumulative number of non-focal purchases
- Discretized continuous variable (buckets)
- Monetary: Cumulative average dollar amount spent by a customer
- Over Time
- Customer lifetime (number of months since joining ShopRunner) — T
- Entropy: Cumulative number of unique retailers purchased from
- Is a referred member or not
- Impact of the network effect on focal repurchases
- Interactions between: Entropy & Frequency
7. Shoprunner Network Effect
Participating in the shoprunner network does not cannibalize customers and in many case healthy competition boosts repurchasing.
8. What effects repurchasing
- The longer it’s been since your last purchase, the less likely you are to make another purchase
- As you make more purchases with ShopRunner, you are more likely to make another purchases
- Holiday shopping has an positive effect on repurchasing for most retailers
- Frequent shoppers who made recent purchases are more likely to repurchase
- Average sales dollars and referral status do not impact repurchase much
- Network effect helps or it doesn’t hurt
9. Next Steps
- External marketing to shoppers:
- Opportunistic window to bump up frequency level for more repurchases
- Data Science Analysis:
- Investigate on more retailers
- External Marketing to Retailers:
- Sell the network effects
- Sell the fit-for-all Image