The Market Basket Analysis report is another helpful report in Amazon Brand Analytics (opens new window). It helps you analyze consumer behavior and optimize your PPC campaigns (opens new window). The report is available for both sellers and vendors. It will show you the products that were most frequently purchased along with others.
How is the Market Basket Analysis report structured?
In this report you can first use different filters such as category, subcategory and brand, as well as define a time period. Afterwards, you will be shown a table from which various information can be read out. Within the previously defined time period, you can see three products that were most frequently purchased in combination with your product. The report thus breaks down what else was in your customer's shopping cart at checkout. The report's metrics are explained below.
What metrics does the Market Basket Analysis report include?
|ASIN||The ASIN is the Amazon Standard Identification Number. The unique identifier is assigned to all products offered on Amazon.|
|Product Title |
|The product title is the product name of your product.|
|#1 Purchased ASIN |
#1 Purchased ASIN
|This identifier displays the ASIN of the product that is most frequently purchased with your product.|
|#1 Purchased Title |
*#1 Purchased Title
|The Purchased Title indicates the product name of the product that is most frequently purchased with your product.|
|1. Combination % |
#1 Combination %
|The percentage indicates the percentage of orders that included both your product and the most frequently purchased product, compared to the total number of orders that included at least two different items, including your product.|
|.... No. 3 Purchased ASIN|
How can you make use of the Market Basket Analysis report?
You can use the Cart Analysis report to identify relationships between products. As a Seller and Vendor, you will learn what a customer buys in addition to your product and the percentage relationship of this joint purchase. If the percentage of the combination is relatively small (e.g. 1%), then it may be a random purchase. Therefore, pay attention to the relationship between the products. It may be that a customer simply searched for different products and bought the two goods together without any connection to your product. A solid percentage guideline for this metric is 10%, but only with attention to critical, content engagement.
Once you've figured out what customers often buy along with your product, you can use that knowledge for combined product offers or cross-marketing. For example, if a customer buys matching filter cartridges with your water filter, you can bundle these ASINs and sell them as a set.
Furthermore, you can use the Market Basket analysis report to optimize your product targeting. For this, you can create a new Sponsored Products (opens new window)campaign to target in it the products that are frequently bought with your products. This can have the additional effect that if your products are actually bought together more often through PPC campaigns (opens new window), they will also be seen in the free placements on the product detail page.
For example, "Customers who bought this item also bought ...":
or "Is often bought together with...":
These ads are not sponsored. Amazon decides for itself who is displayed there.
The Market Baskett Analysis report is one of the most important reports from Amazon Brand Analytics (opens new window). If you make good use of the data from the Market Basket Analysis report, then this can result in more sales for you as added value, as this means that you can suggest suitable products to potential customers.