A Complete Guide to Shopify Custom Reports and Advanced KPI Tracking
- Reading time: 8 mins 25 Sec
For all growing ecommerce brands, tracking performance is one of the most significant responsibilities, for which the need to analyse data for trends and make educated decisions is critical. Using robust reporting and analysis tools in Shopify, brands can gain insights into customer interactions, sales performance, and operational issues. When effectively deployed, Shopify stores’ custom reporting and advanced KPI will completely alter how Shopify merchants approach marketing, selling, and inventory tracking.
In this blog, we will dive into how these shopify reports are created, which metrics are relevant, and how businesses can use that data to grow.
Understanding Shopify Dashboard Analytics For Ecommerce Businesses
Why does the Shopify Analytics dashboard matter for modern ecommerce brands?
The Shopify analytics dashboard gives each brand a complete view of its performance, without having to utilise third-party tools to access the same information. This dashboard will provide current, real-time knowledge concerning sales, web traffic, website conversion rates and consumer activity.
In a highly competitive digital marketplace, having a comprehensive dashboard showing timely and accurate data eliminates the need for speculative analysis and pinpoints seasonal trends, campaigns, and customer interactions, enabling brands to react quickly to changes in their ecommerce marketing strategy. When an ecommerce business regularly examines its analytics, identifying potential opportunities and resolving any issues related to sales becomes a lot easier over time.
Key metrics every Shopify store should monitor daily:
Every ecommerce brand should monitor their shops to gain insight into the business. The daily number of sales, the number of times people visit their online store, the number of conversions per visit, the average value of an order placed by each customer, the percentage of returning customers, and the bestselling products: all of this indicates to the company how well the marketing is performing.
Observing these performance metrics on the Shopify dashboard will help brands identify specific areas of improvement, take action quickly if necessary, and continue to grow at a steady pace.
The difference between Shopify and Shopify Plus reporting capabilities:
Although the Shopify store provides many of the same reporting features as the basic version of Shopify, Shopify Plus gives e-commerce businesses a larger selection of reporting capabilities and allows for greater customisation of reports and segmentation of customers. Additionally, Shopify Plus provides advanced automations for greater reporting efficiency. Shopify Plus also offers much greater detail in terms of customer behaviour as they shop, revenue/profit reporting, and checkout information.
Furthermore, brands using Shopify Plus are able to create unlimited amounts of custom Shopify reports to provide the business with the greatest amount of flexibility in how they analyse performance. It’s for this reason that Shopify Plus can be extremely valuable to high-volume ecommerce brands that require a more detailed analysis of their performance across multiple sales channels, countries and product categories.
Using Shopify Custom Reports to Improve Shopify Store Performance:
What Shopify custom reports are and why ecommerce marketing depends on them?
Custom Shopify reports allow ecommerce brands to analyse particular data points that are important to their business goals. Custom reports offer a much deeper level of customer behaviour insights, order trends and product performance than standard reports. These also allow ecommerce marketing teams to assess which campaigns bring in the right customers, which channels get the best ROAS, and at what point customers are dropping out of the funnel. Building reports based on the actual strategy of the brand provides a much clearer understanding of what drives growth.
Read more: The Digital Marketing Funnel Nobody Talks About: From Traffic to Repeat Sales
Key Shopify sales reports: revenue, orders & trends:
Sales reports provide a comprehensive performance of a store. They detail the sales trends of revenue, top-selling products, sales by traffic source, and customer purchase behaviours. This allows businesses to identify their best-selling products, which ones need more exposure and which categories need to be promoted with additional visibility.
Additionally, clearly identifying sales trends, sales reports enable companies to better plan their stock and when to promote products. By tracking sales revenue trends over time, brands can improve their pricing strategies, create promotions that are more effective and anticipate future demand. Shopify sales reports are the foundation of all successful ecommerce businesses.
Read more: 5M to 10M Revenue: How Nethority Drove 100% Growth
How Shopify inventory tracking improves accuracy and prevents lost sales?
Shopify is a powerful platform for managing your ecommerce business. If you are considering using this platform, it is essential to understand how inventory management works. You will have access to an inventory tracking system that provides real-time updates on the amount of available stock. This will help manage your inventory and avoid having too much or too little stock.
Shopify inventory tracking helps you see what items have not been sold recently, as well as which products are frequently returned. With this information, you can make adjustments to your ecommerce marketing strategies or create offers for customers. In addition, accurate inventory tracking can help your brand make better predictions about potential spikes in sales during peak shopping periods.
Understanding the Shopify sales dashboard for better decision-making:
The Shopify sales dashboard provides a comprehensive overview of all of the daily and weekly revenues generated by your store. It will allow you to compare sales for different time frames and identify trends and growth opportunities. In addition, you can have insights into the types of customers who are your top purchasers, which enables you to focus on that segment’s specific needs in your marketing efforts.
By continually analysing your sales dashboard, you can implement efficient ecommerce optimisation for your promotional strategies, allocate your budget more effectively, and develop stronger customer relationships through targeted marketing.
Advanced KPI Tracking for Ecommerce Optimisation and Growth:
KPIs that reveal true conversion performance in an ecommerce business:
Conversion KPIs, including product view rates, add to cart rates, abandon checkout rates, and final purchase rates, allow brands to understand how their customers interact with their store. They indicate the areas of friction in the buying journey.
Regularly analysing Shopify conversion rate & metrics enables brands to make improvements through better product descriptions, price changes, or simplifying their checkout processes. With advanced KPI tracking, brands can identify the core problems leading to performance gaps and develop ecommerce marketing strategies to optimise them more effectively.
Read more: Decoding Shopify Conversion Rate: The Hidden KPIs That Influence Every Purchase
Customer behaviour reports that improve shopify stores' engagement:
Shopify reports about customer behaviour indicate how a store visitor interacts on the website, which pages they frequent most, and how long they spend on each page before making a purchase. These insights support ecommerce brands in optimising their storytelling, layouts, and product organisation.
Once a brand understands what its customers want, it becomes easier to create a more compelling shopping experience for them. Behavioral reports enable brands to discover obstacles preventing customers from completing their purchases, giving them a more focused approach to improve engagement.
Read more: Factors Influencing Consumer Behaviour: Strategies for E-commerce Success
Profitability KPIs that every ecommerce brand should analyse:
Financial KPIs such as gross profit, net revenue, cost of goods sold, and marketing cost per order allow a business to gain insight into the true financial health of its store. Profitability KPIs enable businesses to determine which products they should scale, discontinue and where they need to improve operational efficiencies in order to continue to grow successfully with sustainable rates. Analysing these financial KPIs will provide businesses with sustainable growth rather than superficial growth.
Custom segments provide different business types, like new customers, repeat customers, high-value customers, or specific traffic channels, and the ability to compare different types of customers against each other. Using a filter function for data refinement allows for more accurate data analysis.
Businesses can utilise segmented analytical data to create personalised marketing campaigns, optimise customer acquisition, and formulate retention strategies. Creating and applying filters consistently allows for obtaining a better understanding of the elements that contribute to a loyal customer base and long-term revenues on the Shopify Analytics dashboard.
How Nethority optimises your Shopify store?
Building a data-driven framework for Shopify reports:
Nethority provides brands with structured reporting systems by integrating marketing, sales, and customer insight data into a user-friendly, data-driven platform. This integrated approach makes the process of measuring performance data even easier and provides brands with a reliable resource.
Automating KPI tracking for faster growth and smarter decisions:
Nethority provides automated dashboards, which can be viewed in real time. By automating, it allows brands to reduce the amount of time they spend manually analysing reports, which reduces the chances of errors. This enables brands to spend their time developing their products, marketing, and enhancing their overall experience.
Why ecommerce brands must integrate marketing, sales and inventory reports?
When viewing Shopify reports as a whole, brands can grow with much more ease. Nethority combines a brand’s marketing performance, sales trends, and inventory health to ensure the creation of more precise plans for future growth and to scale operations effectively.
Final Thoughts: Custom Shopify Reports Helping Ecommerce Businesses Scale Sustainably
Custom Shopify reports help businesses clearly and optimally understand the data for enhanced performance. By replicating KPIs correctly, ecommerce brands are able to operate at maximum efficiency while developing consistent growth trends over time.
As a result, every business that combines strong reporting with continual improvement can unlock its full potential within an ever-evolving, highly competitive digital environment.
FAQs:
Yes. As part of the Shopify Plus plan, users have access to custom reports. These reports allow filtering of various types of data, along with adding metrics, and providing the ability to create personalised reports showing sales, customers, inventory, and marketing performance.
To create a sales report in Shopify, go to your Analytics, choose Reports, then Sales to get access to sales over time, products sold, channels, discounts, taxes, and other detailed insights to understand your Shopify store’s performance.
Once you log into your Shopify Account, you will automatically be directed to your Shopify admin dashboard. The dashboard provides you with direct access to your Store Management Sections.
Open the product in the Shopify admin, scroll down to the Inventory section of the Product, and select Track Quantity. Enter Stock Levels and save the changes; the system will automatically track inventory counts across all channels linked to that account.
Shopify Plus offers premium-level features above and beyond those found in Shopify Basic. Additionally, Shopify Plus offers enterprise-level capabilities such as advanced reporting, automation features, custom checkout solutions, access to APIs, and dedicated priority support.
