Your online store will stay caught up in the competition if you constantly analyze sales data and make changes. Having accurate data is important for every successful business. Whether you’re setting your store’s layout, conducting an audit, or establishing sales goals, it all matters to the data. To increase sales in your Shopify store, you should familiarize yourself with the ultimate guide to Shopify Analytics. Use Shopify Reports to get insights into your business’s revenue, products, clients, and advertising. So, let’s start it!
Table of Contents
A Clear Understanding
Insightful data can be obtained with Shopify Analytics, the built-in dashboard in this platform. It’s a handy tool for e-commerce site owners to learn about and improve their operations. This Shopify Analytics tool can generate data insights about your store’s performance. You’ll also get insight about potential visitors to your store and the volume of sales or orders here.
These metrics provide a quick look at what customers do when they visit your shop. That way, you can fine-tune your website by the data and keep your metrics rising. Let’s explore some options that are featured on the dashboard of Shopify Analytics:
- Total Sales: This indicator represents the amount of money your store made within a given time, excluding expenses like shipping costs and taxes.
- Store Sessions: Sessions measure your online store’s performance and include both unique and returning visitors.
- Return Rate: The percentage of repeat buyers reflects the number of times clients have bought from you. These clients are priceless because of their loyalty and increased lifetime worth.
- Conversion Rate: The conversion rate measures the volume of site traffic that results in a sale.
- Average Order Value: To determine the average order value, divide the total order income by the total number of orders.
6 Basic Analytical Reports
With Shopify Analytics, you can monitor your store’s performance, learn more about your customers, examine your website’s traffic, and examine your store’s financial activities. Only some Shopify editions support a specific type of report. These are:
1. Overview Reports
Your store’s performance can be analyzed with the insights on the dashboard. Necessary metrics are shown both numerically and graphically in this report. All metrics also allow users to look for the previous record.
2. Product Reports
You can get data on the success of specific items in your store by reviewing the product reports. You can access certain product data through the Shopify dashboard. Select the product you want insights by clicking “Product,” then “All Products.” Then select “Insights” and go to the “View Details” option. These reports give you valuable information about product performance, sales volume, and more.
3. Marketing Reports
You can track the impact of your advertising campaigns using marketing reports. You can use this analysis to see what various marketing strategies drive sales. You can also get insight into the sales generated by your targeted ads. You can then analyze from which social media more traffic is coming to our store.
4. Behavior Reports
Reports on customer behavior once they’ve visited your store are valuable. Using this data, you can understand how customers interact with your store. Through analysis of user actions, they can even recommend a Shopify theme optimized for sales conversions.
5. Sales Reports
Reports on sales are particularly useful because they can tell you about your income subject to taxes. Information about sales is only available to those who have purchased Shopify, Advanced Shopify, or Shopify Plus. There are various sales reports available on Shopify. This allows you to track the specific data you need without performing extra work.
6. Custom Reports
If you have a Shopify subscription, you can modify reports or build your own. You can customize an existing report to your liking by changing its columns and filters saving the report with a new name. Custom Shopify reports replicate existing reports, but the filters within them provide just the data you want.
A Little Difference!!
Shopify Analytics is simple and provides an overview through reports. However, Shopify Analytics data show some errors and conflicts in sales reports. You may expect various unnatural “Direct” orders.
However, Google Analytics provides you with far more options for in-depth analysis than you could ever need. Every report format can be merged into a single document. You can also make your reports and dashboards to focus on the most important KPIs. Many online stores can benefit from Google Analytics‘ newer e-commerce features. Each tool has its perks, so use both.
That’s simple. This Shopify analytics tool provides access to all the metrics and statistics important to your online stores. You can monitor your store’s progress when you link this amazing reporting tool to your store. So, what analytics strategy would you use now to run your store more profitably? Tell us in the comments!