Throughout the year you’ll want to monitor specific store metrics based on what you’re actively working on.
For example, if you’re trying to reduce returns then metrics around your return rate and return rate by sales channel would make sense.
There are other, more general metrics you’ll want to keep an eye on all the time to make sure they remain steady. If they move too much, you’ll want to pay attention as that could be a symptom of a problem or opportunity.
- Total Revenue. Should remain steady during a 12-month span.
- Average Order Value.
- Repeat Purchase Rate.
- Average orders per month. When looked at over a 12-month timespan it should be steady.
- COGS. Should be steady or grow slower than your Total Revenue.
In reality, most of these will vary and show some small changes over the course of the year. Some will vary from seasonality. Some will change from growth projects.
It’s the big jumps or drops that you want to watch for.
Repeat Customer Insights includes many of those order and customer-based metrics in its reports. It can also update annual ones for you so you can easily see how the year is shaping up.
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.