February 07, 2022

Customers Like Their Price Bands

Here I segmented customers based on the average price they paid for merchandise in the past.

Then I measured the fraction of next year's sales that were generated by price band.

Tell me what you see when you look at this table.

Yeah, that one is easy to interpret, isn't it?

Customers who bought low-priced items in the past buy low-priced items in the future.

Customers who bought expensive items in the past buy expensive items in the future.

So what do you think is happening to your business as inflation causes your cost of goods to increase, causing you to increase prices?

Well, those who are participating in The MineThatData Elite Program will know the answer after their run is completed at the end of the month! How about you? For just $1,800 you can find out the answer. Contact me (kevinh@minethatdata.com) for details.

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