Repeat is a combination of 3 parameters: 1st repeat rate, number of repeat per repeaters and quantity at repeat.
1st repeat of a product is the percentage of buyers of this product they will buy this product a second time in the same year. Number of repeat per repeaters is the number of time within a year a product is bought among repurchasers (1st repeat buyers). Quantity of repeat is the average quantity of the product that is bought each time the product is bought.
When we combine / multiply these 3 parameters with the number of triers, we get the repeat sales of a product.
Repeat of a new product can also be defined as the percentage of current category sales the new product belongs to, among triers of this new product. In this case the repeat is called Share of Purchase Requirement or Share of Choice. If the triers of a new product buy 5 kg in the category the new product belongs to, if the SOC = 20%, then the triers will buy 1kg (20% of 5kg he used to buy in the category per year) of the new product per year in the future. The SOC is always related to a specific market.
The repeat / SOC index is the repeat / SOC of a new product divided by the repeat / SOC of a product with average performances in the same category.
The repeat / SOC is used in IQ CPT and in Designor tools.
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