Product Recommendations for Monthly PetMind Subscription Boxes
Context
PetMind is a nationwide pet product retailer in the United States. With inflation hitting 41-year highs, the company is planning to reduce the cost of customer retention by improving brand loyalty. The first strategy is to launch a monthly pet box subscription in three months. The marketing team is preparing a list of popular products for the pet box subscription. The chief marketing officer wants to know whether the list should only include the products being purchased more than once.
Questions
The marketing team would like to answer the following questions to help with the decision:
- How many products are being purchased more than once?
- Do the products being purchased again have better sales than others?
- What products are more likely to be purchased again for different types of pets?
Methodology
After importing all my libraries and the csv file, I began my exploratory data analysis and validated the data based on my findings and the data dictionary. I continued to dig into my data for insights and used the Matplotlib and Seaborn libraries, as well as Excel, to visualize my findings. Ultimately, I designed a PowerPoint presentation to exhibit my data analysis.
Findings
- The top 3 categories by sales are equipment, snack, and toys. They make up almost half (49%) of all sales.
- Similarly, the top 3 categories by repurchases are equipment, snack, and toys. They also make up almost half (48%) of all repurchased products.
- Although these categories were commonly repurchased across all pet types, medicine was repurchased more than toys for dogs.
- With a correlation coefficient of 0.98, there is a strong positive correlation between sales and repurchases.
Recommendations
- Despite the frequency of medicine repurchases for dogs, I don’t recommend including medicine in our boxes. Therefore, all pet boxes, even the dog boxes, should include snacks, equipment, and/or toys.
- Due to the strong positive correlation between sales and repurchases, products being purchased again have better sales than others. These repurchased products should be offered in the pet boxes.