Shopify is a platform that offers numerous benefits to those who have chosen it to create and manage their e-commerce business. Each of its tools is designed to provide a solution, regardless of the business area or future goals.
Data analysis, in particular, is useful for e-commerce for several reasons, but one of the main ones has to do with decision-making.
Continue reading this post to find out why your e-commerce statistics play an important role in setting the best resolutions .
Shopify reports and statistics
In this section, you will find a series of data related to the performance of the online store, its sales, orders and the traffic that the website receives, according to the sales channel(s), as well as the date or a specific time interval.
The categories of information you will have access to are detailed below:
Behavior
This category evaluates aspects such as conversion rate, as well as points about customer purchasing trends. Incredibly, it's more important to analyze your customers' behavior before analyzing your sales.
- Add to cart rate: Percentage of users who added a product to their cart within a specified period of time.
- Checkout Rate: Percentage of sessions that reached the checkout screen. Ideally, at least 50% of people who added items to their cart should reach this point.
- Conversion rate: Percentage of sessions that ended in a purchase. As with the previous metric, ideally at least 50% of people who reached the checkout page should complete a purchase.
- Bounce rate . You will know the percentage of people who enter your business and leave without having taken any relevant action.
- Online store search conversion rate . This is the percentage of searches that resulted in orders.
- Top searches in the online store. You will be shown a list of the most frequently searched words.
Sales
Describe in detail everything related to sales from various perspectives. These are the most important:
- Average ticket . You will know the approximate amount that customers spend on your products (sales value), excluding returns, exchanges, taxes, duties, shipping and gift card amounts.
- Average number of units purchased in a single order.
- Retail sales by POS branch. These are displayed as long as you have an active retail branch.
- Sales by billing branch. You'll be able to see which countries buy the most from your business.
- Sales by channel.
- Sales by traffic source. This focuses on those coming from email, social media, search engines, etc.
- Bestselling products. Includes all sales channels.
- Total sales.
Acquisition
Analyze how visitors arrived at your website:
- Online store sessions . Remember: a session is not the same as a visit. The number of sessions refers to the number of times a single user visited your e-commerce site, while the number of visits involves multiple users.
- Sessions by device type . From phones to computers and tablets. A user is three times more likely to visit your online store from their phone, but twice as likely to make a purchase from a computer. This demonstrates the importance of having a responsive and user-friendly design on any device.
- Sessions by branch . They are ordered by country.
- Social media feed sessions. Focuses on networks such as Facebook, Instagram, etc., as appropriate.
- Sessions by traffic source. You'll know how many times a user accessed your site, for example, from a search engine, or by directly entering the URL.
- Top landing pages per session.
- Top referrals by session . Shows sessions originating from other websites.
Orders
It highlights the number of orders, their preparation, and their returns.
- Orders delivered over time.
- Orders prepared over time.
- Items ordered over time. Or, within a specific period.
- Return rate. Indicates the percentage of products that were returned on a given date.
- Returns. Shows the number of products returned in the indicated time period.
- Sales by referral source on social media. That is, all sales achieved thanks to Facebook, Instagram, etc.
- Preparation time. Shows the approximate time between placing an order and its preparation.
- Most returned products.
- Total orders.
Finance
Its objective is to project information on the values associated with returned products.
- Net return value.
- Total refund amount. Also includes taxes and shipping charges.
Customers
It addresses relevant data about new and frequent customers.
- Analysis of repeat customers . This is the percentage of customer groups who, after making their first purchase, decided to return to make more.
- Sales to customers over time. These are the total sales generated by both regular and new customers.
- Customers over time (new vs. regular).
- Repeat customer rate. This is the percentage of customers who made more than one purchase.
Inventory
These metrics are useful when identifying the best-selling items so that they can be restocked.
- ABC product analysis. This is a classification of product variants that is divided into A, B, or C, according to the percentage of revenue they generated in 28 days.
- Products per day of remaining inventory. This is an estimate of how long the current inventory will last based on the sales rate of the last 28 days.
- Products by sales rate. Shows the percentage of inventory sold in a given period of time.
Marketing
You will be able to examine the effectiveness of the strategies you have in place and how many sales have been generated.
- Sales attributed to marketing.
- Sessions attributed to marketing campaigns.
So, what can I do with all this information?
A million things! From developing new items and a new sales strategy to adjusting inventory, you'll also determine which products or services are worth promoting and which are best to withdraw or redesign.
In general, the three main metrics we should focus on to ensure the well-being of our e-commerce are: conversion rate, average ticket, and sessions (in that order).
While the ideal "Add to Cart" percentage can vary depending on the industry and average order value, it's generally healthy for this metric to be at least 9%. This means that the checkout rate should be 6%, and the conversion rate 3%. If any metric falls below average, or if the conversion funnel isn't healthy, it can indicate potential areas for improvement in the user experience.
On the other hand, by having a better understanding of how customers and visitors behave, you can implement changes on your website that streamline their shopping experience.
And, by knowing the results of your marketing strategies, it will be easier to identify what works and what doesn't, what to change, what to remove, etc., all in order for your business to obtain the most appropriate results.
Conclusion
Make data-driven decisions. Do your best to take your time when making certain choices, even if it's a small decision; its impact will influence your online store positively or negatively.
At Getmore, we stay up-to-date with industry best practices and can help you determine the health of your online store. Contact us and let's team up .
