With 2020 all wrapped up, now is a good time to analyze how the year went.
There’s a bunch you can look at to evaluate the year but I’d recommend installing Repeat Customer Insights to help crunch the data and draw out some advice.
Some really important areas to look over are your customer cohorts (e.g. how did newly acquired customers behave?), first product analysis (e.g. which products are growing the best customers), and the customer purchase latency (e.g. how long does it take for reorders).
Those three are critical for figuring out how the year performed. Granted, 2020 was an off year so don’t take any metric as gospel but 2020’s trends should continue for a bit into 2021 as the world recovers.
If you want more advice beyond the in-app insights, I publish many of my articles to my Knowledge Base. Even if you don’t use my app for your customer analysis, you can pick up some strategies and ideas from there.
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.