Sales by Hour of Day Report

Why tracking sales by hour is important

Understanding sales trends throughout the day starts with tracking sales by the hour. This summary may incorporate additional data indicators, useful for tracking the store's business performance.

Effortlessly observe how the sales rate changes for each hour your store is open. Compare current data with past time ranges, and use the reporting tool's functionalities to identify trends in key sales indicators.

The default configuration of the report provides data on general patterns of the store's financial operations by displaying columns such as the number of orders, gross sales, total sales, taxes, discounts, and returns.

Executive managers can use filters to tailor the sales data to their needs. For example, they might want to see the hour with the highest sales for the current month, track the hour with the lowest number of orders for the past year, or compare sales by the hour with previous periods. Such information can be useful for inventory planning and marketing purposes.

What questions can be answered when viewing sales by hour

This summary provides a list of all orders placed within a specified date range, split by the days of the week. It can be used to get a high-level overview of daily sales trends.

The data it presents can answer questions such as:

• Which payment gateways do customers prefer to use daily within specific dates?
• Which day of the week would be most suitable for launching a promo campaign?
• What day of the week is busiest for the store staff?
• Which day of the week brings the highest number of orders each month, year, or any chosen time period?
• How do the key sales indicators (gross, net, and total sales) change day by day within a specific time range?
• How can one see the taxes, refunds, and discounts on orders for each day of the week?
• What is the total number of orders and items purchased for each day of the week?
• What are the gross profit and gross margin for each day of the week?

You can expand this list of insights by using additional data columns and filters.

Key sales indicators in an hourly summary

Use the data summary provided by the Mipler reporting app to stay informed about your store's key sales statistics, broken down by hours of the day.

Add additional columns to gain a detailed understanding of your store's business performance.

For example, you can determine which countries your customers come from and which hours of the day they most frequently make purchases. You can get this information for a default 30-day period or adjust the range to any other time period.

The summary provides information for each hour, such as:

• Number of orders
• Taxes
• Discounts
• Refunds
• Shipping costs
• Gross, net, and total sales

Use these sections to understand the current financial status and fulfillment of orders within the selected date range.

Reports similar to Sales by hour of day

The rundown on sales can be tracked through another data viewpoint if required. The installed store reporting plugin allows you to switch to other time periods. The report can be generated for a day of the week, week, year, quarter, or any other specific time frame.

In conjunction with the day of week sales report, a store manager can often use the following summaries:

• Sales by Day: Use it to see the daily sales information within the specified time range.
• Sales by Day of Week: This report shows on which day of the week the sales are highest. The information obtained can be used to launch promotional campaigns.
• Sales by Week: Use this report to track sales on a more general level than sales by hour and day. This document brings similar data, such as the number of orders, sold items, net sales, grand total, discounts, and returns.
• Sales by Month: Track sales in your store using a monthly timescale of a selected time range. It brings the number of orders, sold items, net sales, grand total, discounts, and returns.
• Sales by Year: Use it as a yearly summary on sales in your store and compare it with data from previous years.
• Sales by Quarter: Use it as a quarterly summary on sales in your store and compare it with data from previous quarters.
• Average Order Value Over Time: Shows how the average check has changed over a certain period. It can be grouped by days, weeks, months, and years.

However, you are not limited to splitting sales into the above time periods. Generate the report on sales based on other factors, like sales by customer group, to get more insights.

Key columns for sales by hour of day

By default, the table with the information on occurred deals for every hour of the day comprises the following sections:

• SALES Date – Hour of Day
• ORDERS Number of orders
• ORDERS Gross Sales
• ORDERS Discounts
• REFUNDS Returns
• ORDERS Net Sales
• ORDERS Shipping
• ORDERS Tax
• ORDERS Total Sales

The user of this generated summary is totally free to exclude any of the existing columns from its default configuration or add several additional ones. Simply choose available columns from the list.

Here is how some of the key columns in the default report are calculated:

• REFUNDS Returns: It is calculated through Refunds Total Gross Amount and Order Adjustments Total Amount data columns.

  [REFUNDS Returns] = [REFUNDS Total Gross Amount] – [ORDER ADJUSTMENTS Total Amount]

• ORDERS Net Sales: It is used to display what is left after the discounts and refunds are extracted from gross sales.

  [ORDERS Net Sales] = [ORDERS Gross Sales] – [ORDERS Discounts] – [REFUNDS Returns]

• ORDERS Shipping: Allows tracking the sums on order shipping.

  [ORDERS Shipping] = [ORDERS Shipping amount] – [ORDER ADJUSTMENTS Total Shipping Amount]

• ORDERS Tax: Depicts the sum of taxes excluding the taxes on the refunded items.

  [ORDERS Tax] = [ORDERS Taxes] – [REFUND ITEMS Total Tax Amount]

• ORDERS Total Sales: It is the final default column of the report, which sums net sales, shipping, and tax.

  [ORDERS Total Sales] = [ORDERS Net Sales] + [ORDERS Shipping] + [ORDERS Tax]

Variations of hourly sales report

You can get one more view on deals adjacent to the hour-by-hour report with metrics on deals configured by default. Utilizing varieties of the available data from the store database, you can acquire a clearer understanding of how well the business is performing in your store.

One of the simplest report variations and an easy way to glance at the business success is to compare a specific date range to a previous period.

Using filters and sorting options, you can get answers to some other questions regarding sales. Here are some examples of the report variations.

How to see sales by location

You can easily see the sales data for each hour of the sale day with the data on customers' geographical distribution.

See what provinces, cities, and countries you have the most or least purchases for each hour during the day.

How to see customer’s lifetime value

It is well known that existing customers cost less than attracting new ones for a store. Depending on the purchases each customer makes, they set their individual value for a store.

You can easily see the customer lifetime value with the CUSTOMERS CLV data column. Use it to monitor signs of shoppers' attrition in your store.

[ORDERS Gross Margin, %] = ([ORDERS Net Sales] - [ORDERS COGS]) ÷ [ORDERS Net Sales] × 100

[ORDER ITEMS Total Cost] = [ORDER ITEMS Quantity] × [INVENTORY ITEMS Cost]

[ORDER ITEMS Total Shipping Price] = [ORDERS Shipping Price] ÷ [ORDER FACTS Quantity] × [ORDER ITEMS Quantity]

[[ORDERS Total Sales] = [ORDERS Net Sales] + [ORDERS Shipping] + [ORDERS Tax]

[[ORDERS Net Sales] = [ORDERS Gross Amount] - [ORDERS Discounts] - [REFUNDS Returns]

[[ORDERS Shipping] = [ORDERS Shipping amount] - [ORDER ADJUSTMENTS Total Shipping Amount]

[[ORDERS Tax] = [ORDERS Taxes] – [REFUND ITEMS Total Tax Amount]