Consumers shop online the most during their lunch hour
We all have known quite intuitively that people, who shop online, usually shop during lunch hours, and at work.
We decided to validate this with actual data, and not surveys with samples so small that they don’t make any sense. We took real social data of over 3M users and ran our algorithms through their shopping behavior. Below is what our algorithms came up with.
The figure below shows the mean rank of a given hour over all the days of data. For every day’s worth of data, we counted the number of requests each hour and rank the hours from the 1st to the 24th by traffic for that day. So if hour 4 has the most traffic on Day 1 and the 2nd most traffic on Day 2, hour 4 has a mean rank of (1+2)/2 = 1.5
So shorter bars are higher traffic hours!
Clearly, lunch hour (from 11am – 2pm) has the most traffic, thus validating the fact that most working people shop online in their lunch hours. As the evening approaches, the traffic starts tapering off. Morning hours are when retailers have the least traffic.
This has several implications.
For retailers trying to get the best deals/offers to their users, this might be a good indicator of when to roll out these offers. It also helps to know at what times in the day, could you expect traffic on your site. It can also give you a sense of when your marketing emails will be opened up and acted upon by your users.
For the techies at the retailers, morning time is probably the best time to roll out new features and test out site changes on the live site, without affecting too many users.
The other inference from this is that people usually use their office Internet to do their online shopping, as the network might be the fastest there. They might not have really good connections at home, as might be inferred from the tapering off in the evenings.
We have all known this intuitively, but this is now backed by real data, from across different networks.
Infinite Analytics has always been at the forefront of cutting edge predictive analytics and semantic technologies. Our Natural Language Processing (NLP), Machine Learning and Semantic Technologies help us establish relationships between users, brands, stars who endorse those brands, movies, affiliation to social causes & prediction of voter inclination.
Watch this space for more analyses on consumers, brands, stars, movies, causes and election analytics.
What is the brand which comes to people's mind when they think about purchasing consumer electronics- is it Reliance Digital Retail Ltd.? Has Xiaomi Technology finally positioned itself as a premium brand? What is common between multi-brand electronic retailers and the people who visit them? What is consumer mindset of someone who wants to purchase consumer electronics and what other places these people go to and what are their brand affinities like?
Sherlock AI (powered by Infinite Analytics) looks into all the people who visited consumer electronics stores in the month of October and connects the dots. Take a 3 minute journey and understand consumer mindset of electronics buyers analytically!
Did you know that jewelry stores’ visitation went up by 125% during the Dhanteras weekend? Sherlock AI analyzed all consumers who visited jewelry stores pan-India and revealed that though typical weekend footfall surges in Jewelry shops is around 16%, the Dhanteras weekend contributed to a whopping 125% surge! WHOA!
Indians have always preferred gold as an asset class and an investment vehicle. With Dhanteras being among the most auspicious occasions to buy gold, Indians did indeed flock to the ‘market’ to buy gold.
It’s most obvious in the digital media space, from click buys to personalized web experiences. For marketing, the AI journey has just kick-started, while in the tech sector it has been applied for a while now. We are still at an early stage where inroads are being made into AI content via chatbots and even some explanatory content creation but what will make anyone jump up and embrace it is when we will start seeing a lot of mainstream content being created by AI.
Prior to joining Infinite Analytics, Richard served as the CFO of CrowdFlower, COO and CFO of Phoenix Technologies, as a member of the board of directors and chairman of the Audit Committee at Intellisync, and previously as CFO and executive vice president strategy and corporate development at Charles Schwab.
Pravin Gandhi has over 50 years of entrepreneurial operational and investing experience in the IT industry in India. He was a founding partner of the first early stage fund India - INFINITY. Subsequently a founding partner in Seedfund I & II. With over 18 years of investing experience, he is extensively well networked in investment and entrepreneurial scene and is an active early stage angel investor in tech & impact space. Pravin holds a BS in Industrial Engineering from Cornell University, and serves on the board of several private corporations in India. He is on the board of SINE, IIT Mumbai Incubator.
Puru has his Masters in Engineering and Management from MIT. Prior to MIT, he worked with Fidelity Investments building electronic trading products and high volume market data processing applications. He has completed his BE from VJTI, Mumbai.
Deb Roy is Professor of Media Arts and Sciences at MIT where he directs the MIT Center for Constructive Communication, and a Visiting Professor at Harvard Law School. He leads research in applied machine learning and human-machine interaction with applications in designing systems for learning and constructive dialogue, and for mapping and analyzing large scale media ecosystems. Deb is also co-founder and Chair of Cortico, a nonprofit social technology company that develops and operates the Local Voices Network to surface underheard voices and bridge divides.
Roy served as Executive Director of the MIT Media Lab from 2019-2021. He was co-founder and CEO of Bluefin Labs, a media analytics company that analyzed the interactions between television and social media at scale. Bluefin was acquired by Twitter in 2013, Twitter’s largest acquisition of the time. From 2013-2017 Roy served as Twitter’s Chief Media Scientist.
Erik Brynjolfsson is the Jerry Yang and Akiko Yamazaki Professor and Senior Fellow at the Stanford Institute for Human-Centered AI (HAI), and Director of the Stanford Digital Economy Lab. He also is the Ralph Landau Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR), Professor by Courtesy at the Stanford Graduate School of Business and Stanford Department of Economics, and a Research Associate at the National Bureau of Economic Research (NBER).
Akash co-founded IA while studying for his MBA from MIT. Prior to MIT Sloan, he co-founded Zoonga. Before this, Akash was an engineer with Oracle in Silicon Valley. He has completed his M.S from University of Cincinnati and B.E from the College of Engineering, Pune.