Strategic Rearrangement of Retail Shelf Space Allocations: Using Data Insights to Encourage Impulse Buying
SSRN, ISSN: 1556-5068
2022
- 611Usage
- 1Captures
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
Article Description
Brick-and-mortar retailers are struggling to compete with online retailers, who increasingly use customer-generated data to provide highly customized experiences for their patrons to drive impulse purchases. Although brick-and-mortar retailers cannot offer such customization, they must identify innovative ways to transform their own point-of-sale transaction data into increased customer impulse buying. Using association rule mining and optimization-based heuristics, we propose a dynamic shelf allocation-relocation scheme for rearranging storewide product allocations over time to maximize impulse buying behavior. The proposed method rearranges items based on customer behavior with the current arrangement. The method applies insights from association rule mining to group highly affine and profitable product pairs, optimize the assignment of departments to store aisles, and determine the optimal within-aisle space allocations for the products of each department. This strategic rearrangement technique consistently outperforms visual shelf space rearrangement and, in many instances, exceeds the profit potential of a more traditional unchanged (one-time optimal) shelf space arrangement, depending on the nature of a retailer’s target market. Our results highlight the importance of a retailer selecting the most appropriate shelf space rearrangement strategy that fits the characteristics of its customers, especially their discretionary income level and their familiarity with the store layout.
Bibliographic Details
http://www.scopus.com/inward/record.url?partnerID=HzOxMe3b&scp=85176983310&origin=inward; http://dx.doi.org/10.2139/ssrn.4087605; https://www.ssrn.com/abstract=4087605; https://dx.doi.org/10.2139/ssrn.4087605; https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4087605; https://ssrn.com/abstract=4087605
Elsevier BV
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