Diving Into Data

Data findings 1 — Bonobos, Men’s retail

As many of you know, we have rich and robust data from disparate data sources, aggregated with consent from our user-base .

We decided to cut our data along demographic and purchase lines in order to try to find some interesting insights.

For no real reason, we zeroed in on users in our user-base who have made purchases at Bonobos, which is a NYC-based men’s clothing retailer. We then pulled the full purchase histories for these users over a given amount of time.

The sample-set composition:

Gender: All males

Age: Mostly 25–35

Location: Mostly coastal US-based cities

Average time range of purchases: 10 months

From both a competitive-set analysis standpoint, and a holistic standpoint, we find some interesting (and sometimes obvious, sometimes not) conclusions from the data.

For those that bought at Bonobos here’s a rundown of their top 10 purchases, by amount spent, by merchant, across all categories of purchase.

Costco, bulk/wholesale purveyor, seems like somewhat of an aberration to the untrained eye, but from some modest research we find that Costco is nearly a perfect fit with this demographic. Costco shoppers are typically wealthy and loyal. The rest of the list probably buttresses most of our assumptions about this segment: Essentials, travel and high-end discretionary purchases.

And here’s a rundown of this same sample set’s top 10 purchases, by amount spent, by merchant, across only retail purchases.

While Bonobos may seem like a reasonably-priced retailer, it is definitely clear that people from our sample-set who bought at Bonobos also bought from rather High-end retailers as well. When we cut the data, we did notice that most in the sample had repeat purchases at Bonobos, which bodes well, from a loyalty perspective. We can imagine that repeat, high-price purchases are harder to swallow, so Bonobos hits the sweet-spot with reasonably priced clothes.

From just purchase and demographic data, we both unearth interesting trends and buttress pre-conceived assumptions. And from a retailer’s perspective, seeing accurate data around share-of-wallet and competitive set information can be hugely beneficial to understanding your customers.

In the grander scheme of things, and from a consumer’s perspective, if you were willing to share this data directly with retailers like Bonobos, the rewards could be pretty handsome. Retailers are definitely interested in this data and we are in partnership talks with several around running pilots where the retailer will reward the consumer directly, for sharing data.

We’ve got some interesting data-fodder and plan to post more in an on-going series about insights and conclusions from data. In our next post, we’ll dig deeper on Bonobos data.

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