How to use your Product Report?
Product Report provides valuable insights into how customers are interacting with your products.
With a proper understanding of these metrics and how to utilize them, you can raise your conversion rate and optimize marketing spend, category and product performance.
1. Main Dashboard
Here, you can see the performance of your products via orders. Compare the number of orders with the last same length time period or Year over Year (YoY) which eliminates the distortion coming from seasonal changes like Black Friday.
Why it matters: By taking a quick look at your metrics here you can easily see your strengths and weaknesses and what describes your customers behavior best.
For example you can easily determine here if you are better at selling lower value products on a mass scale, sell high value products for a fewer quality customers, who comes back lots of times.
Understanding your customers and how they are making decisions is a huge advantage.
You can build your whole brand around it, you can create methods and value propositions which support the decision making mechanisms of your customers.
- Ordered items the number of items that were ordered in a given period.
- Net Product sales is the Net Sales of sold products in the selected period, not including shipping and taxes.
- Active Products is the number of producst from which at least 1 item has been ordered in the given period.
- Average Net Price is the average price of purchased products.
- Average Items/ Order the average number of units sold in an order.
- Orders is the number of orders that were placed in a given period.
1. Best Selling
Why it matters: Here you can find the products which have earned you the most amount of money. Make sure that these products have the best product pages, the most traffic flowing to these products, they are well advertised, their page load time is the shortest, etc.
You can see the full list by clicking on the Show all button.
2. Trending Products
Why it matters: These are the products which generated the largest revenue growth. Get more traffic for these products to boost your revenue even more.
3. Biggest Losers
Why it matters: These are your products which generated much higher revenue in the past, but now for some reason they had a decline in the revenue. Try to find the possibilities that could cause this.
Your quest is to find out why. Too expensive? Low quality? What changed compared to the last time period?
If you are able to find this out product by product you are going to see a steady rise in your income.
4. Potential Package Offers
Why it matters: These are your products frequently bought together. You can utilize this info by creating package offers, upsell offers in different forms.
5. Top 10 Categories
Why it matters: Categories are responsible for customers finding relevant products more easily. A good category structure's result is more products views and better conversion.
By constantly creating new, relevant categories, getting rid of the ones which are not relevant anymore and making sure that products are in the correct categories you can reach the aforementioned perks of a well set category structure.
You can see all of your categories if you click on the Show all button.
The visual shows you the revenue share of each of your categories.
The red and green percentages next to revenue shows how the revenue changed compared to the previous period.
This concludes our guide for the Product Report.
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