Analyze, Interpret, Act
Beer is undoubtedly one of the most popular beverages, so popular that in fact some say it dated back to the early Neolithic or 9500 BC.
It is said that the builders of Pyramid of Giza were paid in rations of beer and bread. Let’s not forget the health benefits of beer, where studies have shown that it can even reduce kidney stones by 40%!!
Nowadays, the Cyprus Market offers a great variety of Beer Products with a range of flavors, types etc. driving the consumers to explore the magical world of Beer!
All the above led us to two interesting questions:
- How loyal are Beer Lovers to their preferred products?
- How likely are they to convert to another option?
Considering all the facts, our curious statistical minds started thinking on how to answer those questions…. After many hours of development, teamwork (and a couple of Beers!) we came up with our Substitution algorithm!
Tracking all Market Baskets in Cyprus and implementing it into our algorithm we came upon some interesting findings. Therefore, we have decided it would be fun to share those results with you!
- Lager in Cyprus is currently the most sought type of Beer with a contribution in the Beer Category of 90%
- The majority of Lager drinkers will seek another Lager alternative (85%) showing their loyalty to Lager!
- The majority of Stout drinkers will prefer to convert to Ale or Lager with almost equal percentages across the two
- Most people (73%) who drink beer in a Can will not switch to a different type
- Beer lovers are more willing to convert to another Brand (51%) rather than changing their Type of Beer!
Now, you have access to interact with our tool and we challenge you to explore the most substitutable options for your favorite beer!!
* If you are a category manager, a retailer or Data/Statistics enthusiast and you can identify an application for your business don’t hesitate to contact us and explore future opportunities together.