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A Revenue-Based Product Placement Framework to Improve Diversity in Retail Businesses

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Big Data Analytics (BDA 2020)

Part of the book series: Lecture Notes in Computer Science ((LNISA,volume 12581))

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Abstract

Product placement in retail stores has a significant impact on the revenue of the retailer. Hence, research efforts are being made to propose approaches for improving item placement in retail stores based on the knowledge of utility patterns extracted from the log of customer purchase transactions. Another strategy to make any retail store interesting from a customer perspective is to cater to the varied requirements and preferences of customers. This can be achieved by placing a wider variety of items in the shelves of the retail store, thereby increasing the diversity of the items that are available for purchase. In this regard, the key contributions of our work are three-fold. First, we introduce the problem of concept hierarchy based diverse itemset placement in retail stores. Second, we present a framework and schemes for facilitating efficient retrieval of the diverse top-revenue itemsets based on a concept hierarchy. Third, we conducted a performance evaluation with a real dataset to demonstrate the overall effectiveness of our proposed schemes.

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Author information

Authors and Affiliations

  1. IIIT, Hyderabad, India

    Pooja Gaur & P. Krishna Reddy

  2. CMR Engineering College, Hyderabad, India

    M. Kumara Swamy

  3. Ashoka University, Haryana, India

    Anirban Mondal

Authors
  1. Pooja Gaur
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  2. P. Krishna Reddy
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  3. M. Kumara Swamy
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  4. Anirban Mondal
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Corresponding author

Correspondence to Pooja Gaur .

Editor information

Editors and Affiliations

  1. ISAE-ENSMA, Chasseneuil, France

    Ladjel Bellatreche

  2. Indraprastha Institute of Information Technology, New Delhi, India

    Vikram Goyal

  3. Iwate Prefectural University, Takizawa, Japan

    Hamido Fujita

  4. Ashoka University, Sonepat, India

    Anirban Mondal

  5. IIIT Hyderabad, Hyderabad, India

    P. Krishna Reddy

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Gaur, P., Reddy, P.K., Swamy, M.K., Mondal, A. (2020). A Revenue-Based Product Placement Framework to Improve Diversity in Retail Businesses. In: Bellatreche, L., Goyal, V., Fujita, H., Mondal, A., Reddy, P.K. (eds) Big Data Analytics. BDA 2020. Lecture Notes in Computer Science(), vol 12581. Springer, Cham. https://doi.org/10.1007/978-3-030-66665-1_19

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  • DOI: https://doi.org/10.1007/978-3-030-66665-1_19

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  • Online ISBN: 978-3-030-66665-1

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