| Team Name |
Team Vasundhara |
| Track |
Data for Good
|
| Use Case |
Our solution aims to affect consumer behavior to drive sustainable buying patterns, especially in the e-commerce and retail industry. Our solution is based on the premise that consumers are environmentally conscious, however, industries have been unable to leverage it to the maximum extent - especially in their sales and marketing efforts. |
| Technology |
SAS Visual Analytics |
| Region |
AP |
| Team lead |
@SumitRaj |
| Team members |
@Sneha_Saragadam @RKhapre @sj03 @ranbir |
Team Mentor:
Mukesh Jain
Team Members:
Shaily Jindal
Rupali Khapre
Sneha Saragadam
Ranbir Pradhan
Sumit Raj
Opportunity Identification:
People, though aware of climate change, find little motivation to adopt sustainable practices at an individual level. The insignificant impact that is created by an individual deters them to truly change their lifestyle. Industries, on the other hand, can use their customers’ environmental awareness to drive a more sustainable user experience.
Solution
The solution package, classified into 2 pillars, leverages consumer behaviour, product usage and features data to undertake sustainability measures at a product level.
Driving Change in Consumption Patterns
- Product Carbon Footprint – Customers will be made aware about every product’s contribution to climate change. Accordingly, the impact of providing carbon footprint information on buying patterns will be calculated. EoL value of the product can also be measured and communicated. The pricing of the products will be dynamically changed to ensure a balance between product’s profitability and negative impact on the climate change.
- Sustainability branding – Through consumer analytics, requisite products will have targeted sustainability messaging to have the maximum impact on the consumers’ purchase decisions.
- Basket Analysis – Recommender systems will be leveraged to promote cluster purchase of products, thus reducing number of visits in a brick-and-mortar store or in case of e-commerce businesses - associated logistics costs.
New Services or Offerings
- Product as a Service – Many types of products don’t reach their end life before being discarded by the consumers. Using data analytics, these products can be identified to be offered as PaaS. Associated rental and repair models can be built. The corresponding pricing of the products, impact on the bottom line of the product as well as the carbon footprint reduction will be calculated.
- Reduction in returns – This involves analysing the reasons behind product returns and accordingly incorporating new technologies and offering recommendations for customer-facing executives. Reducing the number of returns will avoid material wastage as well as logistics costs.
The insights from these two categories will be integrated into an interactive BI tool. For every product, the business user will have information on the recommended selling structure – potential reasons for returns – carbon footprint – EoL value – sustainability messaging – eco-pricing. The solution will put sustainability as a significant factor in the sales and marketing of a product.
Data Dependency
- Product Usage Characteristics
- Product Supply Chain Data
Long video:
Our solution aims to affect consumer behavior to drive sustainable buying patterns, especially in the e-commerce and retail industry. Our solution is based on the premise that consumers are environmentally conscious, however, industries have been unable to leverage it to the maximum extent - especially in their sales and marketing efforts.
1) A major portion of the carbon footprint of e-commerce businesses is contributed by their delivery logistics. One-day delivery options have a higher carbon footprint than normal deliveries. The former is also more expensive for the companies. We have tried to analyze and make consumers aware of the carbon footprint generated from both the delivery options to help them make the right decision by striking the right balance between urgency of order fulfillment and its effect on the environment.
2) Along similar lines, customers place multiple related orders at different times instead of ordering all the things together. This leads to multiple deliveries to the same location which could have been addressed by a single delivery journey. Once again playing on the sustainable mindset on the consumers, we have incorporated carbon footprint parameters in the product recommendation algorithms. Customers lacked any incentive to order related products together - now they are aware of how much carbon footprint they save with bundle ordering,
3) To give manufacturers the incentive to produce more organic and eco-friendly products, we have analyzed the impact of eco-friendliness on garnering positive reviews about a product. Adding sustainability as a parameter may sometimes overcome the impact of price and discounts on a purchase.
The objective of the solution is to help customers make sustainable buying decisions, increase revenue generation for e-commerce firms due to bundle buying with no extra costs in marketing or discounts, and increase the brand value as an environment-friendly company. The solution can be integrated into any e-commerce website to provide real-time carbon footprint savings to the customers with minimal cost.
