Special Thanks To:
Barney Rubin & Lily Carlson
Dr. Joseph Bailey
Tania Arya & Utsa Santhosh
Understanding Differences Between Local and National Beverage Products
- Discover customer preferences when it comes to local vs. national brands for Ready-to-Drink (RTD) beverages
- Understand the subcategories of RTD beverages that are hardest for local brands to break into in the market
- Union Kitchen is a food business accelerator
- Helps local brands launch their product to market
- Looks to emphasize local brands at its various locations in the D.C. Metropolitan area
- Create sub-category identifiers
- Collect qualitative data on customer preferences
- Identify saturated and unsaturated RTD beverage fields
- Tools:
- Python - Pandas - Combining datasets
- Python - MatPlotLib - Visually-appealing graphics
- Total sales data from all 5 stores, over 3 separate timeframes, broken down by individual item via Square
- The ‘Energy Drinks’ category was determined to have the highest sales with the highest pricing level
- The ‘Milk/Coffee’ and ‘Juice’ categories were determined to have the least sales with the lowest pricing level
- Customers appear to be willing to pay a premium for local brands that fall within the ‘Energy Drinks’ category
- The ‘Water’ category is one where customers appear to be unwilling to pay a premium for local brands