CRA CRA Customer Analytics & Consumer Behavior

Question 1

Which metric measures the percentage of shoppers who make a purchase after entering a store?

Accepted Answer

Conversion rate

Answer

Conversion rate is the ratio of transactions to total store visitors, indicating how effectively traffic is turned into sales.

Question 2

What does 'shopper basket size' refer to in retail analytics?

Accepted Answer

Average number of items or dollar value per transaction

Answer

Basket size measures the average quantity or dollar value of items a shopper purchases in a single transaction.

Question 3

A retail analyst notices a high browse-to-buy ratio online. What does this indicate?

Accepted Answer

Shoppers visit but do not complete purchases

Answer

A high browse-to-buy ratio signals friction in the purchase funnel, such as price, UX issues, or lack of trust signals.

Question 4

Which customer segmentation model divides shoppers based on Recency, Frequency, and Monetary value?

Accepted Answer

RFM analysis

Answer

RFM analysis segments customers by how recently they purchased, how often, and how much they spend to identify high-value shoppers.

Question 5

What is 'share of wallet' in consumer behavior analysis?

Accepted Answer

Percentage of category spending a customer gives to one retailer

Answer

Share of wallet measures what portion of a customer's total category spend is captured by a specific retailer versus competitors.

(CRA) Certified Retail Analyst Practice Test