The objective of this project is to conduct a comprehensive analysis of customer purchase behavior, with a specific focus on purchase amounts, in relation to customer gender during the Black Friday sales event at Walmart Inc. This study aims to provide valuable insights that can assist the management team at Walmart Inc. in making data-driven decisions.
- You can access the complete project python file here - Python
- You can access the complete project in pdf format here - Report
The company collected the transactional data of customers who purchased products from the Walmart Stores during Black Friday.It has information of about 0.5 Million transactions during Black Friday throughout various years.
| Feature | Description |
|---|---|
| User_ID | User ID of the Customer |
| Product ID | Product ID of the Purchased Product |
| Gender | Gender of the Customer (Male/Female) |
| Age | Age of the Customer (in bins) |
| Occupation | Occupation of the Customer (Masked) |
| City_Category | Category of the City (A,B,C) |
| StayInCurrentCityYears | Number of years stay in current city |
| Marital_Status | Marital Status (0 - Unmarried / 1 - Married) |
| ProductCategory | Product Category (Masked) |
| Purchase | Purchase Amount |
1.Target Male Shoppers
- Since male customers account for a significant portion of Black Friday sales and tend to spend more per transaction on average, Walmart should tailor its marketing strategies and product offerings to incentivize higher spending among male customers while ensuring competitive pricing for female-oriented products.
2. Focus on 26 - 45 Age Group
- With the age group between 26 and 45 contributing to the majority of sales, Walmart should specifically cater to the preferences and needs of this demographic.This could include offering exclusive deals on products that are popular among this age group.
3. Engage Younger Shoppers
- Knowing that customers in the 0 - 17 age group have the lowest spending per transaction, Walmart can try to increase their spending per transaction by offering them more attractive discounts, coupons, or rewards programs. It's essential to start building brand loyalty among younger consumers.
4. Customer Segmentation
- Since customers in the 18 - 25, 26 - 35, and 46 - 50 age groups exhibit similar buying characteristics, and so do the customers in 36 - 45 and 55+, Walmart can optimize its product selection to cater to the preferences of these age groups. Also, Walmart can use this information to adjust their pricing strategies for different age groups.
5. Enhance the 51 - 55 Age Group Shopping Experience
- Considering that customers aged 51 - 55 have the highest spending per transaction, Walmart offer them exclusive pre-sale access, special discount or provide personalized product recommendations for this age group. Walmart can also introduce loyalty programs specifically designed to reward and retain customers in the 51 - 55 age group.
6. Post-Black Friday Engagement
- After Black Friday, walmart should engage with customers who made purchases by sending follow-up emails or offers for related products. This can help increase customer retention and encourage repeat business throughout the holiday season and beyond.