The summary on variant sales shows the breakdown of revenue and expenses for products on a more granular level than a sales by product report.
The functionality of this reporting tool allows seeing the progressions in key sales indicators contrasted with earlier time periods.
The default configuration of this report offers data on general sales of products and their variants. The information is provided by displaying columns such as the number of orders, gross sales, discounts.
Filters can be used to make the data more representative of your needs. For example, you can see product variants by their name or SKUs. Such information can be useful for inventory planning and marketing purposes.
This type of summary pulls a list of products sold in a more detailed manner – by the variant name or SKU. Start from this report to get a high-level overview of sales on items.
By default, the document does not include shipping, as the data is viewed at the product level. The data it displays 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.
Use the data on variant sales provided by the Advanced Reports app to be informed on key metrics. Expand it with additional columns to get a detailed view. For example, you can see product variants by name and SKU.
Track the number of orders, gross and net sales, total quantity within the chosen time period. Sales overview output for each sales day displays data such as:
Use these columns to glance at the current financial and fulfillment statuses for each order within the selected dates.
In case the sales data must be tracked from another scope, the reporting tool allows switching time periods and comparing data between time ranges.
When generating this report, you are not limited to modifying the report exclusively by time periods. Generate the report on sales based on other factors that can be extracted from the store database.
In conjunction with the variant sales, a store manager can often use summaries such as:
Typically, the table with the data on variant sales consists of columns such as:
You are totally free to exclude any of the existing columns from the report or add more ones. Simply choose the available columns from the list.
Here is how some of the key columns in the default report are calculated:
ORDER ITEMS Total Net Amount. This column is calculated through the total amount of ordered and refunded items.
[ORDER ITEMS Total Net Amount] = [ORDER ITEMS Total Amount] - [REFUND ITEMS Total Amount]
ORDER ITEMS Gross Sales. The final column of the default report is calculated through the variant’s price and quantity.
[ORDER ITEMS Gross Sales] = [PRODUCT VARIANTS Price] × [ORDER ITEMS Quantity]
You can get another view on sales besides the variant sales. Using variations of the default report, you can obtain a clearer insight into the business performance of your store.
One of the easiest ways to glance at the business's 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.
You can easily see the sales data for each sale day with the data on the geographic distribution of customers.
See what provinces, cities, and countries you have the most or least purchases.
It is well known that an existing customer costs less than attracting a new one for a store. Depending on each customer's purchases, 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 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 as a percentage 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 a zero value in a table.
The sales overview can be extended with the data columns on transactions. You can get information such as:
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.
For each order, get the shipping price calculation :
[ORDER ITEMS Total Shipping Price] = [ORDERS Shipping Price] ÷ [ORDER FACTS Quantity] × [ORDER ITEMS Quantity]
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] – [REFUND ITEMS Total Tax Amount]
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