Why do you need Shopify analytics? You need Shopify analytics to view the visitors you are getting to your website. But this is not the end. You get to know about your online store speed. Moreover, you can also analyze your store’s transactions.
Can you access Shopify Analytics?
Yes, everyone can access Shopify analytics and the report pages. But you need to have an online store. You can get your traffic displayed even in the real-time page view. Like Google Analytics.
Moreover, you can also fetch custom reports. However, access to most of the custom-related options is confined to the Advanced Shopify and Shopify Plus plans.
What are the analytics and reports you will get from Shopify analytics?
Here is the list of all the analytics and reports you will get from Shopify analytics:
- Analytics page
- Finances reports
(including taxes and payments) - Fraud reports
- Order reports
- Live View
- Acquisition reports
- Inventory reports
- Behavior reports
- Marketing reports
- Sales reports
- Retail sales reports
- Profit reports
- Customer reports
- Custom reports
Can you access all features of Shopify analytics?
No. Only Shopify Advanced and Shopify Plus subscribed store owners can access all the analytics, tracing, and features of Shopify Analytics.
To elaborate, there are five Shopify plans with increasing pricing based on subscription: Shopify Lite, Shopify Starter/Basic Shopify, Shopify, Advanced Shopify, and lastly Shopify Plus.
Custom reports are only available with the features offered in Advanced Shopify and Shopify Plus plans. The remaining Shopify plans provide enough necessary analytics, so there’s no need to worry.
How to Understand Shopify Analytics?
To understand Shopify analytics, you need to have an understanding of all the analytics, reports, and features provided by it. So, let us start by understanding Shopify analytics.
Analytics page:
Shopify analytics page displays key reports on your sales, orders, and online store visitor data. You can analyze your recent data to the previous data set for a time gap. You can obtain reports for one day, one week, 27 days, one month 90 days, and a custom date.
Steps to Understand Shopify Analytics?
- To understand Shopify analytics, go to Analytics from Shopify Admin. You will see a dashboard that will display today’s and yesterday’s data.
- If you want to see different data, just pick a new date range from the menu. You can choose preset options like “Last 30 days” or pick specific dates on the calendar.
- To compare data, you can check a box to compare with the previous period or the same time last year.
- If you want to change what information shows up on your dashboard, click “Edit overview.” You can remove data by clicking the ‘X’ next to it or add new data by dragging it in from the sidebar.
- Once you’re done making changes, click “Apply.”
How to Under Average order value in Shopify analytics?
This number shows how much money, on average, customers spend in your store when they buy something besides gift cards. It includes things like taxes, shipping costs, and any discounts they get before returning items. Knowing this helps the store decide on prices and understand how much customers typically spend.
It is calculated by this formula:
The average value of all orders (excluding gift cards)/ Total number of orders that contained at least one product other than a gift card.
How to understand Online store conversion rate?
Online store conversion rate gives you several how many people buy your product out of total total store visits you get.
So, let us understand how this online store conversion rate is calculated:
- Added to Cart: This shows how many times people put items into their online shopping cart during their visit. It’s not as many as the total number of people who visited because some just look around and don’t pick anything.
- Reached Checkout: This tells us how many times people not only added items to their cart but also went to the checkout page like they were getting ready to buy something. But not everyone who adds things to their cart actually goes to this checkout part.
- Sessions Converted: This is about how many times people not only added items and went to the checkout but actually bought something. But remember, this number might not match the actual number of orders because sometimes people make more than one order in a single visit.
Basically, not everyone who puts things in their cart buys them. Some stop before reaching the checkout, and some leave the checkout without buying anything.
Final Words:
There are other analytics like Online store sessions by device type, Online store sessions by location, Online store sessions by traffic source, and more. But the above two are mostly searched for information to understand how your store is performing.
While the rest help you analyze further which type of visitors you are getting, their location, etc., so that you can make a better sales strategy for your business.
