Shopify Analytics: The Weapon for Growing Your Business

Shopify Analytics

Each time a consumer enters your store, places an item in their shopping cart, checks out, or even just departs without making a purchase, they are giving you a story.

But how do you listen to these stories? How do you interpret what they mean?

That’s where Shopify Analytics comes in.

Regardless of whether you’re a seasoned online retailer or you’re just opening your first store, knowing your company’s performance is essential to deciding your store’s long-term success. Furthermore, it’s not necessary to be a data scientist or a mathematician to do this.

Shopify’s analytics tools will nevertheless enable you to analyze your store’s activities and come to wise judgments even if math isn’t your strong suit.

By the time you’ll reach the end of this blog post, you’ll have a firm idea of how to use this Shopify Analytics to its fullest.

What are Shopify Analytics and Reports?

Shopify Analytics and Reports are tools that allow merchants to gather data and insights about their store’s performance. These features are essential to any eCommerce platform since they assist businesses in making decisions based on their sales patterns, clientele, and other crucial data.

Let’s have a detailed look at them!

  • Shopify Analytics: This is a broad term that refers to the overall set of tools and features provided by Shopify to help merchants analyze their store’s data.
    Shopify Analytics includes a range of metrics and data such as total sales, online store visits, returning customer rate, average order value, and much more. The analytics dashboard provides a real-time view of many of these key metrics. It is also possible to see analytics for individual products.
  • Shopify Reports: Reports are a part of Shopify Analytics. They provide more in-depth, detailed, and organized data than the general analytics dashboard.
    Reports are categorized into sales, customers, acquisition, behavior, and financial reports. Depending on the Shopify plan you have (Shopify Basic, Shopify, or Advanced Shopify), you’ll have access to different levels of reporting.

Where Can You Find Your Shopify Reports?

Shopify Reports can be found within the Shopify admin panel. From your Shopify admin, click on Analytics in the left-hand side menu. Next, click on Reports. This is where you’ll find all the built-in reports that Shopify provides.

Shopify Analytics

Shopify Analytics Features

Merchants have access to different levels of visibility with Shopify Analytics. It greatly depends on their plan and support options. To have a closer look at Shopify Analytics features that come with each plan, go through the table below:

Analytics & Reports Shopify Lite Basic Shopify Shopify  Advanced Shopify Shopify Plus
Analytics Page checked checked checked checked checked
Product Analytics checked checked checked checked checked
Live View checked checked checked checked
Acquisition Reports checked checked checked checked
Behavior Reports checked checked checked checked
Inventory Reports checked checked checked checked
Marketing Reports checked checked checked checked
Finances Reports checked checked checked checked
Order Reports checked checked checked
Sales Reports checked checked checked
Profit Margin Reports checked checked checked
Retail Sales reports checked checked checked
Customer Reports checked checked checked
Custom Reports checked checked

Types of Shopify Reports

Shopify provides a number of reports that can help businesses analyze their sales, customers, and other store activities. The availability of these reports may depend on the type of plan that you’re using.

Here’s a breakdown of the types of Shopify reports:

1. Acquisition Reports

Shopify Acquisition Reports

Acquisition reports in Shopify show you information about how visitors come to your store. By using this data, you may better understand your traffic’s origins, the marketing channels that are driving the most of it, and how you can raise it. This will help you increase the visibility of your store.

The acquisition reports include the following:

  • Sessions over time: This report shows you the number of visitors to your store over a given time range. You may use this report to evaluate how your traffic has evolved over time and to spot any trends.
  • Sessions by referrer: This report shows the number of visitors to your store who were referred from a specific source, such as a search engine, social media, or another website.
  • Sessions by location: This report shows you the countries and regions from which visitors are accessing your store.

2. Behavior Reports

Shopify Behavior Reports

Behavior reports in Shopify show you information about how visitors interact with your store. You may learn more from these reports about how customers find your products, which pages are they going through, and how they navigate your store.

The behavior reports include the following:

  • Sessions by Device: This report shows you the number of sessions that occurred on each device type.
  • Online Store Cart Analysis: This report shows you the number of carts that were created and the number of items that were added to carts. This might assist you in determining the most popular products and areas where your checkout process needs to be improved.
  • Online Store Conversion Over Time: This report shows you the percentage of sessions that resulted in a conversion, such as a purchase or a newsletter signup.
  • Online Store Speed: This report shows you the average loading time for your store’s pages. This might assist you in locating places where you can increase the loading speed of your store.
  • Product Recommendation Conversions Over Time: This report shows you the percentage of sessions that resulted in a conversion after a product recommendation was shown.
  • Search Conversions Over Time: This report shows you the percentage of sessions that resulted in conversion after a search was performed.
  • Sessions by Landing Page: This report shows you the number of sessions that started on each page in your store.
  • Top Online Store Searches: This report shows you the most popular search terms used by visitors to your store.
  • Top Online Store Searches with No Clicks: This report shows you the most popular search terms that did not result in a click on a product listing.
  • Top Online Store Searches with No Results: This report shows you the most popular search terms that did not result in any results.
  • Top Products With Low Recommendation Click Rate: This report shows you the products that have the lowest recommendation click rate.

3. Customer Reports

Shopify Customer Reports

Customer reports provide information about your clients, such as their location, the products they have purchased, and how frequently they do business with you. These reports can help you improve your sales and marketing efforts.

The customer’s reports include the following:

  • Customer Cohort Analysis: This report shows you how your customers are grouped together based on when they first purchased from you.
  • At-Risk Customers: This report shows you customers who are at risk of churn. This can help you identify customers needing additional support or incentives to keep shopping with you.
  • Customers by Location: This report shows you the countries and regions from which your customers are located.
  • Customers by Predicted Spend Tier: This report shows you how your customers are grouped together based on how much you think they will spend in the future.
  • Customers Over Time: This report shows you how your customer base has changed over time. You can use this to spot patterns in the rates of new customer acquisition and retention.
  • First-Time vs Returning Customer Sales: This report shows you how much money you have made from first-time customers and returning customers.
  • Loyal Customers: This report shows customers who have made multiple purchases. This can help you identify your most valuable customers and target your marketing efforts accordingly.
  • One-Time Customers: This report shows customers who have made only one purchase. This can help you identify customers needing additional support or incentives to keep shopping with you.
  • Returning Customers: This report shows customers who have made multiple purchases from you after a period of inactivity.

4. Finances Reports

Shopify Finances Reports

Finances reports in Shopify show you information about your store’s financial performance, such as sales, expenses, and profit. These reports can help you track your store’s financial health and identify areas where you can improve your profitability.

The Finances reports include the following:

  • Total Sales: This report shows you the total amount of money that you have made from sales.
  • Cost of Goods Sold: You can see in this report how much money you’ve spent overall on the goods you’ve sold.
  • Discounts: This report shows you the total amount of money that you have given away in discounts.
  • Gift Card Sales: This report shows you the total amount of money that you have made from gift card sales.
  • Gift Card Balance: This report shows you the total balance of gift cards that have not been redeemed.
  • Gross Payments by Month: This report shows you the total amount of money that you have received in payments by month.
  • Gross Profit: This report shows you the difference between your sales and the cost of goods sold.
  • Gross Sales: This report shows you the total amount of money that you have made from sales before any discounts or returns are taken into account.
  • Net Sales: This report shows you the total amount of money that you have made from sales after any discounts or returns are taken into account.
  • Net Sales with Cost: This report shows you the total amount of money that you have made from sales after any discounts or returns are taken into account, as well as the cost of goods sold.
  • Net Sales Without Cost: This report shows you the total amount of money that you have made from sales after any discounts or returns are taken into account but without the cost of goods sold.
  • Payment by Type: The overall amount of money you have received in payments, broken down by payment type, is shown to you in this report.
  • Payments: In this report, you can view a list of all the payments you have received.
  • Returns: You may see a list of all the returns you’ve gotten in this report.
  • Shipping: The total amount of money you have spent on shipping is shown to you in this report.
  • Summary: You may see an overview of your financials, including a breakdown of your sales, expenses, profit, and loss.
  • Taxes: The total amount of taxes you have gathered is displayed in this report.
  • Tips: This report shows you the total amount of tips that you have received.

5. Inventory Reports

Shopify Inventory Reports

Inventory reports in Shopify show you information about your store’s inventory, such as quantity on hand, quantity sold, and inventory value. These reports can help you track your inventory levels and identify areas where you may need to reorder products.

The Inventory reports include the following:

  • ABC Analysis by Product: This report shows you how your products are grouped together based on their sales volume.
  • Days of Inventory Remaining: This report shows you how many days of inventory you have on hand.
  • Average Inventory Sold Per Day: This report shows you the average number of products that you sell each day.
  • Month-End Inventory Snapshot: This report provides you with a summary of your inventory levels at the end of the month as well as a picture of your inventory.
  • Month-End Inventory Value: The worth of your inventory at the end of the month is displayed in this report.
  • Percent of Inventory Sold: This report shows you the percentage of your inventory that has been sold.
  • Sell-Through Rate By-Product: This report shows you the sell-through rate for each product. This can help you identify your best-selling products and your slow-moving products.

6. Marketing Reports

Shopify Marketing Reports

Marketing reports in Shopify show you information about your store’s marketing efforts, such as traffic, sales, and conversions. You may use these reports to monitor the success of your marketing initiatives and spot potential improvement areas.

The marketing reports include the following:

  • Attribution Model Comparison: This report shows you how different attribution models affect the attribution of sales and conversions.
  • Conversion by First Interaction: This report shows you the number of orders that are attributed to first interactions.
  • Conversion by Last Interaction: This report shows you the number of orders that are attributed to the last interactions.
  • Sales Attributed to Marketing: This report details the overall revenue generated by sales that may be directly attributable to marketing.
  • Sessions Attributed to Marketing: This report shows you the total number of sessions that are attributed to marketing.
  • Shop Channel Product Impressions: This report shows you the number of times that products in your shop channel have been displayed to visitors.

7. Order Reports

Shopify Order Reports

Order reports in Shopify show you information about your store’s orders, such as total sales, average order value, and customer location. You may use these statistics to monitor the sales activity in your store and pinpoint areas where you can enhance the customer experience.

The order reports include the following:

  • Fulfillment Over Time: This report shows you the total number of orders that were either fulfilled, shipped, or delivered over the selected time period.
  • Fulfillment, Shipping, and Delivery Times: This report shows you the time that it takes for orders to move through the entire fulfillment process, from order receipt until delivery to your customer.
  • Orders Over Time: This report shows you the total number of orders that were placed over the selected time period.
  • Product Orders and Returns: You can view how many orders were placed for each product as well as how many returns were made.
  • Shop Channel Orders: This report shows you a summary of your orders that were placed through the Shop channel.

8. Profit Margin Reports

Shopify Profit Margin Reports

Profit Margin reports in Shopify show you information about your store’s profit margins, such as gross profit margin, net profit margin, and product profit margin. You can monitor the profitability of your store and find opportunities to increase profits with the aid of these reports.

The profit margin report includes the following:

  • Profit by Point of Sale Location: This report shows you the profit margin for each Point of Sale (POS) location. This can help you track the profitability of each POS location and identify areas where you may need to improve your profits.
  • Profit by Product: This report shows you the profit margin for each product. This can help you identify your most profitable products and allocate your marketing budget accordingly.
  • Profit by Product Variant SKU: This report shows you the profit margin for each product variant SKU. This can help you identify your most profitable product variants and allocate your marketing budget accordingly.

9. Retail Sales Reports

Shopify Retail Sales Reports

Retail sales reports show you information about your store’s in-person sales, such as total sales, average order value, and customer location. You may use these statistics to monitor the sales activity in your store and pinpoint areas where you can enhance the client experience.

The retail sales report includes the following:

  • Retail Sales by Point of Sale Location: This report shows you the total amount of money that you have made from sales at each Point of Sale (POS) location.
  • Retail Sales by Product: This report shows you the total amount of money that you have made from sales of each product.
  • Retail Sales by Product Type: This report helps you know how much money you’ve made overall from sales of each kind of product.
  • Retail Sales by Product Variant SKU: This report shows you the total amount of money that you have made from sales of each product variant SKU.
  • Retail Sales by Product Vendor: This report shows you the total amount of money that you have made from the sales of products from each vendor.
  • Retail sales by Staff at Register: This report shows you the total amount of money that you have made from sales made by each staff member at the register.
  • Retail Sales by Staff at Register (daily): This report shows you the total amount of money that you have made from sales made by each staff member at the register on a daily basis.
  • Retail Sales by Staff Attributed to Sale: This report shows you the total amount of money that you have made from sales that were attributed to each staff member.

10. Sales Reports

Shopify Sales Reports

Sales reports in Shopify show you information about your store’s sales, such as total sales, average order value, and customer location. You may use these statistics to monitor the sales activity in your store and pinpoint areas where you can enhance the client experience.

The sales report includes the following:

  • Sales by Product: This report shows you how many orders each product has generated.
  • Sales by Product Variant SKU: This report shows you how many orders each product variant SKU has generated.
  • Sales by Discount: This report shows you how many orders were placed with each discount code.
  • Sales Over Time: This report helps you view how your sales have evolved over time.
  • Average Order Value Over Time: This report shows you how your average order value has changed over time.
  • Sales by Billing Location: This report shows you where your customers are located.
  • Sales by Channel: This report shows you how many orders were placed through each sales channel.
  • Sales by Checkout Currency: This report shows you the currency that was used for each order.
  • Sales by Customer Name: This report shows you how many orders each customer has placed.
  • Sales by Product Vendor: This report shows you how many orders were placed for products from each vendor.
  • Sales by Traffic Referrer: This report shows you which websites or apps your customers used to find your store.
  • Shop Channel Sales: This report shows you a summary of your orders that were placed through the Shop channel.

Conclusion

Shopify Analytics is an invaluable tool for any online business owner. It enables you to make wise decisions and improve the performance of your store by offering clear insights and statistics.

You can measure your sales, keep an eye on customer behavior, and spot patterns using Shopify Analytics, enabling you to adjust your tactics and achieve growth.

So, start harnessing the power of Shopify Analytics today and unlock the full potential of your online store.

What Next?

Have a look at how you can integrate Google Analytics into your Shopify store!

How to Add Google Analytics to Your Shopify Store?

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