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The 46/18 Rule Of Online Shopping: Big Shoppers Buy More
from the not-so-catchy dept
The famous "80/20" rule is often misquoted or misused in amusing ways, but it's generally used to mean that the top percentage of some group add up to a lot more than the "long tail" beneath them. In some ways, this is quite obvious. After all, the richest 20% of the population will obviously own more than 20% of the wealth -- otherwise they wouldn't be the richest 20%. What was really interesting about the original point of the rule was the degree to which the top 20% mattered (80% according to the rule). So, is it nearly as interesting when the numbers aren't nearly as extreme? A new study is touting the fact that 18% of top shoppers represent 46% of online sales. Why those numbers? That's not clear. Basically all this is saying, again, is that top shoppers spend more -- which is something of a truism. It would be a lot more interesting if they showed the entire breakdown and how it changes as you go up the population. Why just look at the 18%/46% point which seems like an entirely random data point? The article claims these people are the "Most Valuable Shoppers," but nowhere is it explained why this was the cutoff point.
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No Subject Given
I especially loved Nielsen/NetRatings calls the heaviest buyers MVPs—Most Valuable Shoppers. I guess I'm getting too old for acronyms these days.. I still pretend an acronym is a series of letters representing the first letter of some words.
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CDF
In the case of the normal distribution (bell curve distribution), this is represented by the upper-case Greek letter phi.
Would the CDF of jellyfish ice cream have a steeper cliff?
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Quantile Function
The jellyfish ice cream is being sold exclusively through the internet, as it would not succeed in traditional retail even in Japan. So the internet is turning into a bonanza for curiosity seekers.
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Quantile Function
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