Launching an online company store is a major step toward increasing brand awareness and enhancing your business, but it’s only the first step in your store’s overall success. Tracking metrics with online company reports can empower your brand even further. Keeping tabs on various metrics enable you to make smarter and faster decisions that can improve your store and, in turn, your business results.
We’ve compiled a rundown of eight important real time reports a Coggins Promotional online company store offers to help make informed business and ordering decisions.
1. Order History
Viewing all your online store users and their orders can help you uncover trends, discover purchasing patterns and develop strategic promotions. By calculating the average order value, you can create a promo that’s above the average order value to increase the average by encouraging users to buy more.
2. Item Sales & Usage History
Tracking the sales and usage history of your online store’s items provides insight on the purpose a particular item is serving. Those with high sales rates are evidently enticing to customers, while those with high usage rates by your company are likely to be valuable for marketing and brand awareness.
See Also: 5 Tips to Increase Company Store Sales
3. Current Inventory
Knowing what items you have on hand at any given time helps you plan ahead for upcoming events or promotions. This online company report also lets you assess the total value of the inventory, at both cost and retail.
4. Low-Stock Items
Keeping an eye on low-stock items lets you know when it’s time to reorder. Items that are consistently low in stock can also provide you with an indication that you may need to increase the maximums for that particular product.
5. Inventory Receipt History
Inventory receipts track the transaction date, invoice number, quantity and description of a product received into inventory. This report is useful for keeping tabs on the lifecycles of your various products.
6. Inventory On-Order
Knowing which products are already ordered and potentially on their way helps you avoid ordering too many items or duplicating an existing order. You can also check the existing order’s status to gauge how quickly it may arrive.
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7. User Lists and Consumer Acquisition
Users are what keep your online company store thriving, and it’s crucial to pay attention to what they’re doing. User lists and consumer acquisition reports let you review user activity. Here you can check in on user group assignments and budgets to ensure group assignments remain valid and budgets aren’t running low.
8. Audit Trails
An online company store audit trail provides an electronic record of events in chronological order. Audit trails can provide valuable information that ranges from buying patterns of a new product to financial records of your store’s online transactions.
Using reports to regularly review your online company store’s data makes it easy to not only see what’s going on at the moment, but to also make informed decisions moving forward. These eight reports provide a solid starting point for tracking important metrics of your shop, providing valuable information you can use to continuously improve performance.