One of the best features we added to PrestaShop v1.6 is the analytics dashboard. Not only is it one of the most appealing pages, it’s one of the most helpful when it comes to growing your business. Today we’ll break down the stats and share a few tips on how you can get the most out of them. Let’s get started!
The first stats are often referred to collectively as KPI’s, or key performance indicators. Most companies use one or several of these statistics to evaluate their store’s overall performance compared to industry standards or past store performance.
The first chart you’ll see when you open your shop is your dashboard. Below we explain how each stat is calculated, what it tells you about your shop, and how the number can be skewed.
- Sales (Sum of all order totals)
This number is pretty straightforward - it shows you how much money your shop is making. Hopefully, you’ll see an upward trend: in other words, your shop is making more money this month then it did the previous month. An upward trend shows your shop is growing and converting more customers, while a downward trend shows that customers are not purchasing as much or as often.
However, merchants generally see increases and decreases from month to month. The holiday sales season is a perfect example: strong holiday sales are often followed by a high number of returns.
- Orders (Number of orders received)
It’s important to know the number of orders that your store receives, because it indicates the number of customers you are successfully converting. Ideally, you’d like to see an upward trend here, too. However, don’t be surprised if you find that this number dips during slower months. You can easily compare each month’s performance against numbers from the previous year to continually evaluate your store’s growth.
- Cart Value (Sales / Orders)
Average cart value indicates the average amount that a customer spends on each visit to your site. Cross-selling and upselling features have proven to effectively increase this number. However, being too focused on increasing cart value can also hurt your shop. Be sure you’re promoting not just larger orders, but more orders. An increasing number of orders of increasing value is your ultimate goal.
- Visits (Sum of all traffic to your website)
Visits are a number game: the more people browsing your shop, the more likely you are to make a sale. Even when you don’t close a sale, your chances of converting that visitor one way or another, increase. Well-designed lead magnets are a great way to engage your customers, even before they make the decision to purchase. However, a large number of visits can be attributed to “bots” scanning your website. The overstated number of visits can decrease other stats like conversion rates.
- Conversion Rate (Sum of orders / sum of visitors)
Conversion rates give online merchants a good sense of how many visitors actually complete purchases. This metric is especially useful for merchants who are trying to optimize their website design. During A/B tests, conversion rates help merchants decide which final design should be used.
- Net Profit Margin (Sum of all revenue - sum of all expenses)
This statistic is one of the most important numbers online merchants should analyze. It clearly shows how much money your business has gained or lost. By filling in fields like wholesale price, bank charges and shipping fees, PrestaShop gives you an up-to-date estimation of your business’s financial standing.
Products and Sales
At the bottom of your dashboard page, you’ll find the product and sales table. It’s a quick summary of the information provided on your stats tab. We’ll detail what information each of the following tabs provides and how you can leverage that information.
- Recent Orders
This tab shows you the most recent orders placed on your website. It also details who made the purchase, the order size, and even the number of items purchased in the order. You’ll have a good idea of how busy or not busy, the business is. When you’re managing a team, it’ll help you decide how you should organize the staff and their responsibilities.
- Best Sellers
This tab simply shows you which products have been selling the best over the specified period of time. It’s worth noting if a specific image color or product category gets the most sales. Consider staging your images to mirror your best sellers or even purchasing more products that fall within the most-popular category.
- Most Viewed
This section simply lists the products that have been viewed the most by customers. Make sure you configure your back office to present the right numbers. Once you know which product is the most popular, match it against your best sellers list. Ideally the products should be similar. After all customers are more likely to purchase a product they’ve seen than one that they have not. If items on your most viewed list did not make the best seller list, consider adjusting the price to get customers to convert. Also keep in mind that a product’s merchandising may also play a role in how it’s viewed. For example, is the product currently listed on the homepage?
- Top Searches
This table lists the top searches from customers browsing your website. It’s key to understanding what your customers are looking for when they visit your website. First, try searching each of these terms yourself to ensure they produce accurate results. If the search terms aren’t necessarily what you’re used to, consider adding them as “tag” to help customers find the product. Here are 4 essential tips to improving your on-site search.
If you’re already using your PrestaShop back office dashboard, which stats do you refer to the most? Want to take a live tour of our dashboard? Check out the PrestaShop demo, then launch your own free PrestaShop store.