Get a breakdown of item sales sorted by product tags
This summary shows the product sales data grouped by the product tags. Such a document can be considered an exceptionally powerful instrument for sales administration tasks of store supervisors.
They can utilize it to better understand sales, changes, and trends that happened during a specific time range.
When generating such a document, a reporting tool shows the breakdown of key monetary measurements for items tags currently used in a store.
This statistical information can be examined straight through the provided numbers or can be transformed into solid diagrams for easy spotting of potential sales trends.
The usefulness of this reporting tool allows you to see the movement of your store's key financial indicators by comparing current data with previous time spans.
Utilizing this report's default setup, a senior store manager can get information on the financial statistics of sales grouped by product tags. The data is presented in sections such as the number of orders, net quantity, gross, net, and total sales.
With the assistance of built-in filtering capabilities, the information shown on the screen can be made more representative of the requirements of a specific task. For instance, a senior manager can see item variation, item name, or SKUs in addition to the product tag. Such data can be helpful for inventory planning and marketing purposes.
This type of summary outline pulls the information on sales items grouped in a helpful rundown format based on product tags. This can be a starting point to get an overview of the level of orders carried out in the store.
The summary can be utilized as part of in-store standard business practice for improving product choices and monitoring sales trends. The information gives a store manager a convenient tool to notice significant patterns in orders.
The data displayed in this summary can be used to answer such questions as:
Expand this list of answers you may get on your sales by using additional data columns and data filters.
Utilize the provided information on sales given by the Advanced Reports application to be informed about key sales measurements. Make it more illustrative with additional sections to get a customized close view. For instance, expand the report with the data segments for item variations and SKU.
Track the number of orders and items purchased, gross and net sales within the chosen time span. Get a sales overview output for product tags with such data as:
Utilize these data segments to look at the current financial and inventory situations for each product tag within the chosen range of dates.
If you look at the sales data differently, you can see multiple trends in sales and inventory patterns. The rundown by product tags can be more useful when a store manager adjusts time spans and compares information between several time periods.
This tool allows creating a Sales by Product Tag report with a larger number of configured options than simply changing time spans for data analysis. Generate the summary of sales based on other factors available in the store database.
In conjunction with variant sales, a store manager can often use such summaries as:
A store manager can also use less similar reports to get an additional view on sales. This can be done with such summaries as:
The default table with the data on sales by product tag consists of such columns as:
The chief administrator can exclude any of the currently included data segments from the report and add a few extra ones for more clarity of the report. Pick available data segments from the list.
Here is how some of the key columns in the default report are calculated:
[ORDER ITEMS Gross Sales] = [PRODUCT VARIANTS Price] × [ORDER ITEMS Quantity]
If taxes are included, then the formula for Gross Sales transforms to:
[ORDER ITEMS Gross Sales] = [PRODUCT VARIANTS Price] × [ORDER ITEMS Quantity] – [ORDER ITEMS Tax]
[ORDER ITEMS Net Sales] = [ORDER ITEMS Gross Sales] - [ORDERS Discounts] – [REFUND ITEMS Returns]
[ORDERS Shipping] = [ORDERS Shipping amount] - [ORDER ADJUSTMENTS Total Shipping Amount]
[ORDERS Total Sales] = [ORDERS Net Sales] + [ORDERS Shipping] + [ORDERS Tax]
You can get one more view on sales adjacent to the Sales by Product Tag report. By utilizing variations of the default report, a store master can acquire a clearer understanding of the shop's business status.
One of the easiest methods for getting another look at the store's business achievements is by comparing a specific date range with a past period.
Utilizing filtering channels and sorting choices, executive store managers can find answers to some other questions regarding sales that they may have. Here are a few examples of the report variations.
You can easily see the sales data grouped by product tag alongside the data on the geographical location of shoppers.
See what provinces, cities, and countries you have the most or least purchases for specific product tags.
It is well known that existing customers cost less than attracting new ones for a store. Depending on the purchases each customer makes, he sets his 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 shopper attrition in your store.
Gross margin is one of the parameters for business performance, which shows how much financial funds the store retains. The higher this indicator is, the more capital is available to pay for other costs.
See the gross margin in percent by activating a corresponding column.
[ORDERS Gross Margin, %] = ([ORDERS Net Sales] - [ORDERS COGS]) ÷ [ORDERS Net Sales] × 100
The result is rounded to two numbers after the comma sign. If the calculation result is negative, the report shows zero value in a table.
The total cost of ordered items in the order is calculated as:
[ORDER ITEMS Total Cost] = [ORDER ITEMS Quantity] × [INVENTORY ITEMS Cost]
A store can have both new and recurring customers, with the latter being preferable. Merchants can easily see what types of customers buy in their stores within the ORDERS Customer Type column.
In case the date of the customer’s first order is equal to the order processing date, then the customer is considered a first-time buyer. Otherwise, they are assigned to a Returning type. If the report cannot detect the customer ID, it will display the Unknown value.
Get the sum of total sales calculated as:
[ORDERS Total Sales] = [ORDERS Net Sales] + [ORDERS Shipping] + [ORDERS Tax]
The ORDERS Net Sales are obtained as:
[ORDERS Net Sales] = [ORDERS Gross Amount] - [ORDERS Discounts] - [REFUNDS Returns]
The ORDERS Shipping is obtained as:
[ORDERS Shipping] = [ORDERS Shipping amount] - [ORDER ADJUSTMENTS Total Shipping Amount]
The ORDERS Tax is obtained as:
[ORDERS Tax] = [ORDERS Taxes] – [REFUNDS Total Tax Amount]
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