What does Nozzle’s Purchase Analysis Dashboard show?
This dashboard includes two key reports, showing you which products customers purchase next, and which products are commonly bought together. This dashboard differs from the rest in that the data displayed is for a single ASIN. This is a key report in understanding how your customers traverse through your product listings and which items they may deem complementary.
What Customers bought next
This report shows you the top 5 most popular second-purchased products (after a customer has already purchased the product highlighted at the top of the report).
When is this best used:
The What Customer Bought Next report when used alongside the purchase interval data. Using this you can retarget customers with the most popular second purchases within the ‘best retargeting window’ - simply go to the Purchase Intervals dashboard and filter for the relevant ASINs to see their optimal retargeting window.
Purchase intervals dashboard - Nozzle
Key points to note when looking at Nozzle’s Purchase Analysis Dashboard:
It is normal to have 70-80% of customers repurchase the same product again.
If <65% purchase the same product again then potentially the product has high cross-product purchasing power.
This means that the product is an excellent introduction to the brand as a whole as customers go on to explore other products.
It would be worth exploring the new-to-brand (NTB) versus repeat customer ratio for these products - if this ASIN shows a high NTB percentage, then it would be a good idea to push more effort into advertising this product as it acts as a great 'gateway' product into your brand.
Frequently bought together
What does this show?
This report shows how often a customer has purchased that product alongside another within the same order. It also tells you what the most popular combinations of products are.
How is this chart best used?
Use this chart alongside purchase intervals and bought next data to understand which products would be most suitable for introducing virtual bundles (based on those most popular pairings).
It's worth spending a little time exploring your ASINs with this report as it can yield unexpected product combinations and unlock opportunities for growth!