“Half your products sell less than the average”
I saw a passage like this while reading a business book.
It’s a simple statement with simple math behind it but it should make you stop and think.
If half your products are selling below average, are they worth promoting? There are reasons you might want to, but do you know what those reasons are? Have you checked the data to confirm?
What if you stopped selling and promoting these weaker selling product and focused on the top half of your products instead?
Definitely something to think about.
For one reason why you might consider keeping around these below-average products: some products end up creating better customers who spend more over their lifetime, even on other products. That’s what the First Product Analysis report in Repeat Customer Insights can help you check for.
Use cohorts to find out who the best customers are in your Shopify store
Repeat Customer Insights will automatically group your customers into cohorts based on when they first purchased. This will let you see how the date customers bought would impact their behavior.