Vanhishikha Bhargava
Vanhishikha Bhargava

Types of Data Reports To Grow Your Shopify Store and How to Use It

Your Shopify store’s performance depends on how well you optimize your processes. Many merchants miss out on using their store’s data reports to make informed decisions and consequently, grow their store. 

Read about why you need data reports for your Shopify store and the different kinds of data reports you can set instantly to understand your store’s performance and improve it.

Why You Need Store Analytics and Data Reports to Grow Your Shopify Store

When running a store you need to be able to take strategic decisions on ways to improve your store to generate more revenue. Each store’s analytics tell a different story about what is working and what isn’t. While you can refer to common benchmarks in your industry, they won’t be as accurate as your Shopify store’s unique performance.

Using your store data, you can learn where you’re losing money, which tactics are working and which ones aren’t. You can then use this to implement new tactics, see their performance, and optimize them accordingly. 

For instance, you can look at your product analytics to understand which products aren’t selling and which products are selling well. Using this information, you can remove underselling products and introduce new products similar to bestsellers on your Shopify store.

Your data reports are a source of accurate information about your Shopify store and by tapping into them, you can manage your store better, see higher growth, and optimize your costs.

But what exactly should a Shopify store owner or an eCommerce marketing manager be looking at in Google Analytics? 

Also read: Why Google Analytics and Shopify analytics are not enough to understand your store performance

10 Types of Data Reports and How to Use it to Grow Your Shopify Store

If you’re just starting to set up your data reports, it may be overwhelming to see the different reports, metrics, and rates that you need to keep a track of. To ensure you aren’t lost, we’ve listed 10 types of data reports you can easily set up, along with how you can use them to smartly improve your store.

1. Growth Overview

Your growth overview report gives you a summary of how your store is performing. From here, you can find any issues that you need to fix and check out different data reports in detail to see what’s not working. 

For instance, if you see that your cart abandonment rate is higher, you can then go to your Product Segments report and see which products are being abandoned. You can then optimize that product’s price and find solutions to lower abandonment.

data reports

How to use this data report:

  • Make instant decisions about your store’s strategy.
  • Compare the growth across different months to compare promotion strategies and avoid mistakes that led to losses. 
  • Set a revenue goal and watch your strategies add to achieving it in real time. 

2. Traffic Report

Get an in-depth understanding of how visitors interact with your Shopify store and its products with traffic reports. Your store’s traffic is broken down into a few metrics:

  • Channel: This defines the channels that bring traffic to your store, whether its organic, referral, social, or direct. 
  • Revenue share: Percentage of sessions that are brought in by a specific channel. 
  • Sessions: One session is a group of user interactions with your website that takes place within a given time frame.
  • Conversion rate: Percentage of sessions that convert into a customer.
  • Direct revenue: Total revenue brought in by a specific channel
  • AOV: Average Order Value is the average value of an order by customers that come in through a specific channel
  • Session Value: This is the average value of a session brought in by the specific channel.

How to use this data report:

  • Understand which channel is bringing in more traffic and/or revenue. Use this to increase your efforts within that channel. For instance, if referrals are bringing more revenue, focus on increasing the referrals you get with a well-planned referral campaign. 
  • Pinpoint the channel with low sessions. Optimize your current strategies. For instance, if ‘Organic’ is bringing fewer sessions, you can improve your keywords and optimize your site’s ranking on search.

3. Conversion Reports

Using conversion reports, you can understand where conversions are coming from, which products are selling, and how shoppers are flowing through the store to finally make a purchase.

  • Conversion by Channel: Channels that are bringing in customers.
  • Top Converting Pages: Pages that bring customers to your store. 
  • Top Browsers: Browsers commonly used by customers.
  • Conversion Funnel: See how shoppers flow through your website, from how they start their session on your store to the percentage that views your products to how many add to their cart to the percentage that makes a transaction.

For example, here’s how your website conversion looks like. Using this data, you can optimize the low performing funnel stages to reduce the drop-offs from your store and nudge visitors to complete purchases. 

How to use this data report:

  • Understand where you are losing your shoppers. If shoppers only view your products without adding it to their cart, you can set up a browse abandonment email to bring these shoppers back.
  • See which of your landing pages have higher traffic to conversion ratio to optimize them to sell more with smart upsell and cross-sell campaigns. 
  • Optimize your store design to deliver a seamless experience on the browsers that are being most commonly used by visitors. Understand the restrictions imposed by the browsers to see how they impact the shopping experience. 

4. Checkout Report 

The checkout funnel is a series of steps (pages or clicks) that your shopper takes to go from your store’s landing page to the thank you page. Your checkout report can help you understand what actually nudges shoppers to complete a purchase. Right from the products they like to the choices of shipping and payment methods they make to complete the purchase – everything factors into your checkout funnel. 

Here are some KPIs on the checkout report that helps you improve your store:

  • Cart abandonment rate: Percentage of online shoppers who add items to your store’s cart but then abandon it before completing the purchase.
  • Number of orders abandoned: View the number of orders abandoned on your Shopify store.
  • Orders placed with discounts: View the number of orders which used a discount code.
  • Top coupons used: See which coupons are commonly used on your store. 
  • Average discounts: View average discounts commonly used by shoppers on their orders.
  • Top shipping method: See which shipping methods are commonly preferred by your shoppers.
  • Top payment methods: Learn which payment methods are used by your shoppers when purchasing from you.

How to use this data report: 

  • Identify the minimum discount it takes to make the purchase appealing for a shopper. Plan your promotions, coupons, and discounts accordingly to get higher conversions. 
  • By knowing which shipping method is the most preferred by shoppers who actually make purchases, you can optimize your profit margins by promoting the ones that are the most effective. 
  • Similarly, see which payment methods are being chosen the most by shoppers while completing checkout. Rehash your pricing, promote that payment method and increase your margins. 
  • Reduce your cart abandonment by identifying what it takes to convert shoppers into customers. 

5. Facebook Analytics 

Facebook is the most common channel used by merchants to advertise their products. With a vast audience, Facebook ads see great conversions. However, with high competition, merchants who run Facebook ads need to always have their eye on their ad performance and swiftly optimize it to ensure better returns.

You can set up your Facebook ad reports within your analytics dashboard. RevTap’s dashboard allows you to see your ad performance in a detailed manner. 

  • Campaign Overview: See ad spend, revenue, returns, and more with an overview report for all your ongoing campaigns. 
  • Age-wise breakdown: Understand how your ads perform for different age groups, including revenue generated, CPC, CTR, ROAS, and clicks. 
  • Gender wise breakdown: See how your ads perform when shown to different genders including clicks, revenue, and return.
  • Ad placement: See how your ad performs based on its placement like feed or stories and devices like mobile and desktop. 

How to use this data report:

  • Make your targeting more specific. You can exclude age groups that don’t work or set up a different ad that caters to age groups that are currently not converting.
  • Place your Facebook ads better. If your ad works better on feed rather than stories, you can choose to only show feed ads to optimize your budgets. 

Struggling to understand how you can optimize your Facebook and Instagram ads to reduce customer acquisition costs at a low ad spend? Contact us for a free consultation

6. Email Performance

Your email performance reports need to give you a detailed understanding of how your email campaigns are performing, which pens are performing better, and revenue generated via email.

Here are a few metrics you can view from this data report:

  • Email marketing KPIs: Track key metrics like subscribers, unsubscribers, emails sent, open rate, click-through rate, revenue, etc.
  • Campaign performance: Understand how each campaign worked and compare their performance.

data reports

How to use this data report:

  • Compare different campaigns to see which one yields more clicks and revenue. Optimize your weekly newsletter, promotion campaigns and more using concrete data. 
  • Optimize your email subscription messages and pop-ups to see how it impacts subscriber growth.

Further Reading: 10 Must-Have Email Automations For Every Shopify Store

7. Product Analytics

Understanding how your products perform can help you optimize your inventory, pinpoint which products need to be promoted more, and maintain a product catalog that sells well. With product analytics, you can get an overview of your product sales, segment product by how they sell, etc.

Your Products Overview page can give you a wider understanding of how your products are performing. Here are 6 metrics that the page tracks:

  • Active products: Products that are actively selling in your store.
  • Average product price: The average price of your products.
  • Product pageview: Number of page views for your products.
  • Product page conversion: Conversion rate from product page views to transactions.
  • Average product/ order: Average number of products per order. 

Product segments are created based on how they sell, which channels they sell through best, etc. Here are 10 product segments:

  • Best Selling: Products with the highest number of sales.
  • High Volume: Products that have the highest quantitative sales.
  • Most Gross Margin: Products that bring in the most net revenue.
  • Most Profitable: Products that bring in the most profits. 
  • Top Discounted: Products that are commonly bought with a discount.
  • Top from Paid Search: Products that are popularly purchased by customers that land on your store through paid efforts.
  • Most Refunded: Products that are commonly refunded.
  • Top from Organic: Products that are popularly purchased by customers that land on your store through organic search.
  • Most Abandoned: Products that are commonly abandoned.
  • Top from Email: Products that are popularly purchased by customers that land on your store through emails.
  • Most Reordered: Products that are commonly reordered.
  • Top from Referral: Products that are popularly purchased by customers that land on your store through referrals.
  • Nearly Out of Stock: Products that are running low on stock.
  • Top from Direct: Products that are popularly purchased by customers that land on your store directly.

Here’s a glimpse of what a product analytics report should look like for an eCommerce store owner, business analyst or eCommerce marketer who is planning promotions: 

How to use this data report:

  • Identify your top-sellers and the frequency at which they are being purchased to plan your pricing better and arrange inventory accordingly. 
  • Optimize your inventory using specific segments like ‘Nearly Out of Stock’.
  • Set up more marketing efforts for products with low sales to sell them using upsell and cross-sell campaigns. 
  • Understand why certain products are commonly refunded or returned and optimize it accordingly.
  • Optimize pricing or provide discounts for products that are commonly abandoned.

8. Individual Product Analysis

Individual product analysis helps you see how a specific product is performing. Such a report is crucial if you are having a hard time selling a specific product or want to know who the product appeals to.

Use this individual data report to see how many quantities of the product were sold, whether it was discounted, which kind of customer (new or repeat) purchased the product, and more. 

data reports

How to use this data report:

  • Understand how each product’s performance – the number of times it has been ordered, reordered, returned, or refunded to identify its performance in the market you’re targeting. 

9. Customer Analytics

Use your customers’ behavior to get insights into how they shop on your Shopify store. Using the data report, you can learn how many customers you have, including returning customers. You can also see average order value, total spent by your customers, number of orders, and the number of products ordered.

data reports

Your customer analytics will also show you how many customers recently purchased something from your store, how many shoppers have made repeat purchases, and how many customers have a high AOV.

data reports

How to use this data report:

  • Get an overview of the types of shoppers your Shopify store is getting. Use the data to define your ideal customers, reset your revenue goals, plan your promotion strategies to appeal to the different customers reaching your store. 

10. Customer Segments

One of the most insightful data reports that every Shopify store must set up is customer segments. 

Customer segments break down your customers into different groups based on common factors, shoppers who only buy at a discount, repeat customers, etc, based on their purchase behavior. 

Using customer segments, you can better understand the different customers that your Shopify store has. You can then craft highly specific marketing campaigns for each kind of segment to increase your conversions.

data reports

How to use this data report:

  • Set up marketing campaigns based on your customer segments. For instance, you may notice that you have more ‘lost customers’ this month when compared to last month. Set up an email campaign to bring them back easily.

Paolita reduced their CAC by 38% using data from customer segments to personalize their marketing campaigns. To know more about their strategy, contact us

Set up data reports to smartly generate revenue for your Shopify store!

The eCommerce industry is competitive. It’s no longer about having the best products or the highest discounts. Instead, it’s about understanding your customers, where they are the most active, what they’re more likely to convert on, and making the most out of that data to fuel your growth. 

Most store owners and marketers restrict themselves to looking into email marketing reports on a monthly basis. However, new-age retailer has to do more. It’s about putting everything you have at hand from marketing and sales to use to get more people to buy from you and establish a brand that lasts. 

And creating these reports isn’t difficult either. With Shopify analytics apps like RevTap, it’s simply about plugging in your store, Google Analytics, and marketing apps – and everything happens on its own. 

Ready to supercharge your store sales with concrete data? 

Get started on RevTap for free.

Turn your Shopify store data into more revenue with RevTap. Sign up today to get started for FREE and avail pre-launch discounts.
Vanhishikha Bhargava
Vanhishikha Bhargava
Vanhishikha is the Head of Content and Partnerships at RevTap. You'll usually find her hunting for strategies and tools to enable eCommerce businesses to sell more. At other times, you'll find her testing them and writing about them with a cup of coffee.

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