Subject Area Concepts
Customer wallet share is a powerful way to evaluate a retailer's performance by quantifying its share of a consumer's total purchases for a category (or select categories) of merchandise. Its a consumer equivalent of market share. In theory a retailer wants to have 100% of a consumers wallet share for the categories of merchandise it sells.
Because wallet share depends on obtaining a consumers total purchases from all retailers they shop at for a given category (and time period) our retailer has to figure out how to capture the total value denominator used to calculate wallet share. A retailer will only know its part of a consumer's total purchase. So it has to go outside the organization to obtain total wallet value. One way to do this is to purchase the data from a payment services provider (or several since one may not provide a total value). For the purposes of modeling wallet share data structures, ARTS is adding the SamplePurchasedCreditDebitCardSpendData entity type. This is a "fictional" total wallet data source that is used to create this subject area.
The WalletShareEstimate entity type is an estimated total purchase value of a product/service category by a key customer for a reporting period. This estimate is used to assess the relative portion of a customer's total spend on a product category for a given reporting period a retailer owns. This entity as modeled is a summary of retailer transactions. Because the product, location and time dimensions used to sum the data will vary depending on how the SamplePurchasedCreditDebitCardSpendData values are derived it cannot be expressed as a view over the ARTS ODM 7.0/7.1 retail transaction entities.
The RetailVerticalReference entity represents a reference table that identifies and describes different types of retailers that a payment services provider uses to categorize customer total credit/debit payments. Examples include: GROCERY, HOME IMPROVEMENT, APPAREL. This is a sample table and reflects the likelihood that purchased data will not use the retailer's internal merchandise hierarchy to categorize customer wallet values.
The other entity types in this subject area are part of the ARTS ODM 7.0/7.1 set of formal model entities.