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How to Get Sales Information for a Specific Product on Shopify
Last modified: April 8, 2024
Managing your eCommerce website isn’t just about how many sales you’re making in a month. It’s about noticing trends and behaviors across a long time period to calculate the specific needs of your customers so you can provide them with an ample supply of the products they want when they need them.
At the same time, by knowing the purchasing behaviors of your customers, you can plan your inventory better. It is a huge risk to store lots of specific products within your premises. There can be theft, fire, water leakages or even just degradation of the product over time that can make stored stock worthless.
You’ll also notice that costs can be higher if you store lots of a product for a longer time. This is because products stored are taking up space within your premises that can be translated into a cost for floor space, heating, lighting and security. It is better to have your products in stock when you require them.
A classic example of this could be Halloween customers, buying and storing these in December or January seems pointless. No one is going to buy these products until August or September at the earliest, yet you could be spending lots of money in allocating these products space in your warehouse.
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Seeing Reports is Useful
Therefore, you need a way to assess the current purchasing behaviors of your customers to determine when you will need these products in stock. Using this information, the sales history reports, you can start to better plan your business’ budgets and allocation of marketing/resources to sell more of what customers want when they want it.
However, it’s important that you are on one of the top Shopify plans. The basic Shopify plan doesn’t have this feature, and therefore, you could be missing out on a lot of vital information that could help you improve profitability on your store.
There are other benefits of using a higher Shopify plan, including lower transaction fees, gift cards and POS features.
This information can then be found within your Shopify dashboard, under the Shopify Analytics option. The higher plan you have, the more reports that you can access.
Using an App
There is also the option to use a Shopify app to access the sales data of your Shopify store. This can be a more expensive option, but it might offer you more detail than Shopify can offer you. In addition, you might then be able to export the sales data to CSV files in order to conduct your own analysis of the data.
Accessing Product Sales Information on Shopify
Navigating to Shopify Analytics
Begin by logging into your Shopify account. Navigate to the dashboard and access the Analytics section. This area provides a comprehensive view of your store’s performance, including sales data.
Selecting the Sales Report
Within Analytics, locate and select the ‘Reports’ option. Here, you’ll find various reports available. Choose the ‘Sales by product’ report to view detailed information about the sales performance of individual products.
Customizing the Report
Customize your report to suit specific needs. Filter the data by product, time period, or other relevant criteria. This customization allows for a focused analysis of the sales information you’re most interested in.
Understanding the Data
Analyze the data presented in the report. It typically includes metrics like units sold, total sales, and returns. This information is crucial for making informed decisions about inventory management and marketing strategies.
Exporting for Further Analysis
For more in-depth analysis, consider exporting the data. Shopify allows you to export these reports in various formats like CSV or Excel.
This feature is particularly useful for sharing data with team members or for further analysis using external tools.
Enhancing Shopify Sales Information Analysis
Understanding Product Type Sales
To optimize inventory and marketing strategies, it’s crucial to analyze sales by product type. This involves examining key financial metrics and trends for different product categories.
By doing so, businesses can identify which products are performing well and adjust their strategies accordingly.
This deeper analysis allows for more effective inventory planning and targeted marketing efforts, ensuring that resources are allocated to the most profitable areas.
Tracking Sales Variants
Another vital aspect is tracking sales by variant, such as size, color, or material. This granular approach helps in understanding customer preferences and demand patterns.
For instance, if certain sizes or colors of a product are selling faster, businesses can adjust their inventory and marketing focus to cater to these trends.
This level of detail in sales tracking is essential for making informed decisions about product offerings and marketing strategies.
Utilizing Advanced Reporting Tools
Leveraging advanced reporting tools can provide a comprehensive view of sales data.
These tools offer functionalities like filtering and sorting, which help in creating detailed reports on various aspects like product types, variants, and customer behaviors.
Such detailed reports aid in making data-driven decisions for inventory management, marketing campaigns, and overall business strategy.
Key Insights from Product Sales Information on Shopify
Identifying Sales Trends
Analyzing sales trends over time is crucial for understanding the market dynamics and customer preferences. This could include getting detailed sales information for a high-demand product to better understand its performance and implement strategies like limiting 1 product per customer if needed.
By comparing sales data across different periods, businesses can identify patterns and shifts in customer behavior, which can inform strategic decisions. Shopify’s advanced features allow pulling granular sales data for analysis.
By comparing sales data across different periods, businesses can identify patterns and shifts in customer behavior, which can inform strategic decisions.
Customer Behavior Analysis
Understanding customer behavior through sales data is vital. This includes analyzing aspects like purchase frequency, preferred products, and spending patterns.
For popular products, you may want to import reviews from other sites like Amazon to gauge sentiment. Such insights are invaluable for tailoring marketing efforts and improving customer engagement strategies.
Strategic Decision-Making
Finally, sales data analysis plays a critical role in strategic decision-making. This approach ensures that efforts are focused on the most impactful areas for business growth.
By understanding which products are performing well and identifying customer preferences, businesses can make informed decisions about product development, marketing strategies, and resource allocation.
Conclusion: How to Get Sales Information for a Specific Product on Shopify
Whether you’re looking to find out which products are most popular or looking for trends in the purchasing behaviors of your customers, sales history reports are important. There are two ways to access them: have a higher Shopify plan than the basic, or use an app that gives you access to this information. In most cases, to access this information, you will need to pay for the information.
Once you have this information, you can often find cost savings or find ways to improve sales by promoting certain products at specific times of the year or to customers you’ve not yet bought that product.
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Can I see which customers are buying a specific product on Shopify?
To identify customers purchasing specific products, use the ‘Customers’ report in Shopify. Filter this report by product to see detailed customer information for each purchase.
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Can I see the impact of discounts on product sales in Shopify?
To assess discount impacts, analyze the ‘Discounts’ report in Shopify. This shows how sales figures are affected by discounts and promotions for each product.
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How do I identify my best-selling products on Shopify?
Use the ‘Top Products by Units Sold’ report in Shopify. It highlights your best-selling products based on the quantity sold, giving you a clear picture of your most popular items.
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