Improving Product Placement in Retail with Generalized High-Utility Itemsets
Chinmay Bapna, Polepalli Krishna Reddy, Anirban Mondal · 2020
Product placement in retail has a significant impact on the sales revenue of retailers. Hence, research efforts are being made to improve retailer revenue using high-utility pattern mining based product placement approaches. However, none of these existing approaches has explored generalized high-utility itemset mining for determining product placement in retail. The knowledge of generalized high-utility itemsets extracted from user purchase transactional database in conjunction with a product taxonomy can provide new insights about customer purchase behaviour. This work proposes the generalized utility itemset (GUI) index for retrieving generalized high-utility (revenue) itemsets. We also present a framework, which leverages the GUI index towards retail product placement to improve revenue. Our performance study using real datasets shows the effectiveness of our proposed scheme w.r.t. two existing schemes.