• A market basket is a selected set of goods and services that tracks the performance of a specific market or segment.

  • A popular market basket is the consumer price index (CPI), which gives an estimate of inflation based on the average change in the price paid for a particular basket of goods and services over time.
  • The CPI uses over 200 categories, including education, housing, transportation and recreation, as an economic measure.
  • Shopping cart analysis is used by retail stores to predict and increase impulse purchases based on the product groups a shopper is purchasing.