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An Efficient Premiumness and Utility-Based Itemset Placement Scheme for Retail Stores
Chaudhary P., Mondal A., Reddy P.K.
Published in Springer
Volume: 11706 LNCS
Pages: 287 - 303
In retail stores, the placement of items on the shelf space significantly impacts the sales of items. In particular, the probability of sales of a given item is typically considerably higher when it is placed in a premium (i.e., highly visible/easily accessible) slot as opposed to a non-premium slot. In this paper, we address the problem of maximizing the revenue for the retailer by determining the placement of the itemsets in different types of slots with varied premiumness such that each item is placed at least once in any of the slots. We first propose the notion of premiumness of slots in a given retail store. Then we discuss a framework for efficiently identifying itemsets from a transactional database and placing these itemsets by mapping itemsets with different revenue to slots with varied premiumness for maximizing retailer revenue. Our performance evaluation on both synthetic and real datasets demonstrate that the proposed scheme indeed improves the retailer revenue by up to 45\% w.r.t. a recent existing scheme. © 2019, Springer Nature Switzerland AG.
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