This document discusses the importance of product behavioral analytics for e-commerce businesses. It notes that products, along with customers, are key entities that can drive revenue. Understanding a product's personality, potential, and how customer behavior varies based on different product attributes can help retailers focus on high selling items and clear out existing inventory. Product behavioral analytics examines on-site behavior, purchase history, email interactions, seasonality, discounts, and more to cluster products and identify customers most likely to buy each cluster. This predictive analysis provides insights into a product's revenue potential, profitability, and demand even for new products.

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PRODUCT BEHAVIORAL
ANALYTICS
Importance of Products in Reviving E-commerce Business
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2. TABLE OF CONTENT
1. Importance of Products in the retail landscape
2. Why Product Behavior is a must to analyze?
3. Important aspects of Product Behavioral
Analytics
4. Advantages of Product and Predictive
Analytics
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4. Retail Entities
Retail is comprised of two important
entities Customers and Products
Products are the primary items whose
selling as per their true potential can
generate maximum revenue and
increased profits.
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5. Power of Products
It is a false belief that it is only
customer that drives product
purchases; it is equally true that
products also have the power to
drive customers.
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6. Products Personality
Every product has the
ability to draw attention
and get purchased for the
worth it holds.
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7. Product Behavioral aspects
Behavioral
aspects give a
particular
personality to
each product and
by their analysis
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8. Product Potential
Complete insight of products as an individual entity and
even in a product cluster helps retail business to focus on
products which have the potential to sell a lot
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To sell right
products
Product Behavioral
Analytics tells the
retailer which products
have the maximum
selling potential.
To sell in Time
Products are
susceptible to time and
they are meant to be
sold quickly.

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Optimize Inventory
Space & ROI
Predictive Analytics
helps in clearing out the
already existing products
by knowing customers
who are interested in
them.
To Know Products
Well
Product Behavioral
Analytics helps to know
products well and also
proposes interested and
expected buyers for any
product.

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To Know Product
Demand
Behavioral Product Analytics
helps in forming clusters of
similar products. Potential of
selling for any product or
cluster is also an output of
this analytics.
To know who wants
to buy any product
Predictive analytics of
behavioral product clusters
identifies customers those
who are most likely to buy
them.

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Important aspects of
Product Behavioral
Analytics
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Which products were looked at by
which customer on-site
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Onsite-Behaviour

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What was the purchase history of
every product
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Purchase Behaviour

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Which product was
promoted in which email
and the corresponding
open, click and purchase
ratios of the product
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Email Behaviour

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Each product has specific attributes
of its own, which makes it belong to
a particular cluster of products.
These attributes may be
characteristically or categorically
similar.
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Product Specific Attributes

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Important to know which products have a high tendency to
sell in upcoming season Accordingly
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Seasonality

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Different products have different
tendency to sell with
discounting. Some products sell
only with deep discount, while
premium products sell
irrespective of discount.
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Discount Sensitivity

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Analysis of these important aspects results into complete
understanding of products. Predictive analytics outcomes for
products also include Customer Affinity or ability of a product
to tell you which customer wants it.
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To summarize for a product, even a new product not yet
sold even once, the analytical engine provides:
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1. Revenue
Potential of
the product
2. Profitability of
the product
3. Demand of
existing customer
base into the
product

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RetailReco’s Analytical tool tells which products will sell,
how much and in what period.
Predictive Analytics coins uncountable opportunities for
each product; to sell to its interested customer base. This
results into the increased sales flow and results in
generating larger revenue and bigger profits.
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