1(School of Business Administration, Shanghai Lixin University of Accounting and Finance, Shanghai 201209, China) 2(School of International Business Administration, Shanghai University of Finance & Economics, Shanghai 200433, China)
[Objective] This paper tries to categorize consumers based on the elasticity of their electronic discount vouchers with a heterogeneous mixture model. [Methods] We built the proposed model with heterogeneous mixture model and 22,234 members’ shopping data at a large online retail portal in China. We obtained the model parameters from the maximum likelihood estimation. [Results] Compared with the controlled group, the treatment group’s usage of electronic vouchers increased by 18.6%, their average amount of spending added 43 yuan, and the overall contribution margin raised by 359 thousand yuan. [Limitations] We only adopted one explanatory variable (membership levels) to the probability function. [Conclusions] The proposed model could help companies optimize the effects of their promotions, and increase the usage of vouchers, sales and gross profits.
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