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ROI versus ROAS: Differences and Which You Should Use
Many people make the mistake of assuming that they should either use ROI or ROAS to calculate the viability of their business. The bottom line is that, together, these e-commerce metrics unlock different insights into your business as a whole. They can tell you if you have effective or disruptive advertising that is optimizing your ROAS or if your marketing budget is experiencing a bleed. They can also tell you when you reach your break-even point. To help you understand the difference between ROAS and ROI, this article explains what they are, how to calculate them, and which you should use for different situations. What Is ROI? Return on investment (ROI) measures the net profit you make on an investment, taking the original cost of the investment into account. Calculating ROI There is a formula that can be used to calculate the ROI to see if your business is a good investment. The formula is as follows: ROI = (net profit / net spend) x 100 Let's look at an example: Marvellous Meats makes a net profit of $10,000 a month. Their net spend is $6,000. Therefore: ROI = (10,000 / 6,000) x 100 =166.66666 ~ 167% What Is ROAS? Return on ad spend (ROAS) is also calculated using a formula and will tell you how effective your online advertising campaigns are. In other words, ROAS will tell you how much your business earns for each dollar you spend on advertising. Calculating ROAS The formula for calculating ROAS is: ROAS = (revenue generated from adverts / advertising spend) x 100 Let's look at the same example: Marvellous Meats generates $7,000 from their online adverts. Their online campaigns cost $2,000: ROAS = (7,000 / 2,000) x 100 = 350% ROI vs. ROAS: Which Should You Use? There are several differences between ROI and ROAS. For starters, ROAS speaks to your company's revenue and ROI to its profit. Another important difference is that ROAS only considers direct spend; it doesn't take other online campaign costs into account. In other words, ROAS can tell you if your adverts are generating clicks and impressions, and ultimately revenue. ROI, however, will tell you if your company's advertising is profitable. Let's look at an example of ROI vs. ROAS: Your company makes $50,000 in revenue and spends $12,000 on advertising. The cost of your equipment and employees adds up to about $40,000. ROI = (-$2 000 / $52 000) x 100 = -3.85% ROAS = ($50 000 / $12 000) x 100 = 417% The ROAS calculation may look good at first glance, but the ROI tells you a different story. These figures tell you that your business is not making money - in fact, it is running at a loss. This is why it is so important to calculate and keep up with both your ROI and your ROAS at the same time. On the other hand, these calculations could also tell you that your company is spending a lot of money on an online advertising campaign that is not effective and not optimizing ROAS. You can use ROI and ROAS to keep your finger on the pulse of your business, and as a result, see it succeed!
Leveraging Online Behavioral Tracking to Personalize Your Store Experience
Tracking online consumer behavior is used to gain an understanding of how customers feel about a product and what influences their buying decisions. The need to understand the consumer's expectations, discover what products are needed, and remove products that have become obsolete all highlight the importance of analyzing consumer behavior. Without understanding what your customers want, it's difficult to provide a valuable service. That being said, keep reading to learn how you can track online behavior to provide your customers a better store experience. Ways to Track Consumer Behavior Here are a few ways you can get on top of your competition and give your customers what they want: 1. Customer Feedback Reviewing customer feedback will allow you to engage directly with your customers, giving you feedback on what works for them and where their frustrations lie. Product reviews, social media comment tracking, direct messages, and forums are all great places to find out what consumers think about a particular product or topic. Without customer feedback, you're basically left shooting in the dark as you try to figure out what they like and dislike about your store. This can encompass everything from raising your prices to levels customers are still happy to pay, to getting rid of entire categories on your Shopify store. 2. Analytics Using analytics tracking is a great way to understand how consumers behave around the web. Platforms like Google Analytics are particularly helpful as they provide an in-depth understanding of how customers behave on your website. Areas you should track in Google Analytics to understand consumer behavior include: Acquisition (where your traffic is coming from)Conversion rate (Number of customers that complete a sale)Average page time (the longer, the better)Bounce rate (the percentage of people that visit only a single page) By tracking these key website KPIs, you will gain a strong understanding of what is working and what isn't working with your business. 3. Google Surveys Google Surveys are a great way to connect to new and existing customers to find out specific details about a service or product. The more specific your information, the easier it will be to run a successful campaign. Types of Consumer Behaviors to Track To understand consumer intent, the following behaviors should be tracked: Recent activity Recent activity shows when customers interacted with a brand, product, or even web page. Knowing this can show if a product is relevant or obsolete.Frequency of activity Higher activity frequency means customers interact with your brand regularly. This indicates that you are providing something they enjoy, and can be specific enough to tell you exactly which products are in high demand.Consumer momentum Momentum indicates sudden changes in how customers interact with a brand. A sudden change could indicate a need for a product, or, on the other hand, a sudden disinterest.Customer intensity Customer intensity indicates how active someone is with our brand. Customers with high intensity are doing a lot through your site and not just casually browsing. This could indicate that you are keeping them engaged.Scroll depth Tracking scroll depth is critical to personalizing the customer experience. If customers aren't scrolling to the bottom of your pages, it could indicate a number of things they aren't happy with, such as page speed, poor design, and more. Benefits of Behavioral Tracking Behavioral tracking offers many benefits, including: First-party data access from your websitePredict consumer intentHigher CTRBetter ROIIncreased customer retention Tracking Behavior Is Only the First Step Once you've spent the time tracking the behavior of consumers on your website, you're only a quarter of the way there to personalizing your store experience. The next step is to use the data you've attained to make the necessary changes to keep customers happy. You want your potential customers to have a streamlined experience from the moment they find your store, and you want to offer them an easily navigable website with the best products for your chosen niche split into categories. Above all else, you want to offer what the competition doesn't.
Successful Shopify Entrepreneurs
6 Simple Tricks to Attract Repeat Customers to Your Shopify Store
Is it better to gain new customers or keep the ones you have coming back? Repeat customers are anyone who purchases from your business more than once. This often results in a long-term relationship with the customer, an increase in ROI as you save on advertising, and growth in brand awareness as happy customers share helpful feedback and spread your brand's name through word of mouth. Although strong customer retention strategies will give you a solid foundation, there's always a few easy tricks to keep those customers coming back for more. 1. Prioritize Customer Service If you want your customers to keep returning, you'll need to make them feel as though they are unique and special. Replying to comments and feedback, live chats, Q&As, consistency, and prompt responses are all things that customers look for in a company. If a customer feels like you care, they'll keep coming back. 2. Customer Loyalty Programs Offering customers rewards for completing tasks or making purchases helps them feel connected and valuable to your brand. Reward your customers with signup points, for making purchases, and for returning time after time. Your loyalty program should be generous and add real value to your customers. Low incentive loyalty programs tend to fail as they look like schemes. 3. Email Marketing Newsletter email marketing is one of the best ways to constantly bring your targeted audience back to your site. When customers sign up for an email campaign, it becomes easy to directly contact them to share new products, tips, and news. Make sure your email marketing is unique and personal to your audience, and remember to include a call-to-action (CTA) to drive them back to your site. 4. Discounts and Incentives Offering returning customers discounts on new products and services, shipping, or free gifts will keep them coming back. With the promise of something free, or at a discount, your customers will be encouraged to return to you instead of your competition. Other incentives such as referral programs can help broaden your customer reach while keeping existing customers. 5. Automated Conversations In a world of convenience, everyone wants something without waiting. As customer service is so important, you need to be able to respond to queries at all times. Automated conversations will keep customers from getting frustrated and leaving your site. If customers can get simple answers right away, they are more likely to be patient when waiting for a more in-depth response. Want to know if your automated conversion are working? Take a look at our guide to tracking conversion rate on Shopify. 6. In-Depth Product and Service Knowledge If you don't know about your products, it'll be difficult to sell them. Furthermore, your customers will quickly find out if you or your team know what they're talking about. If a customer doesn't trust your advice or feels as though you can't answer their questions, they aren't likely to make a purchase. Ensuring that you and your staff know your product inside and out will promote a professional outlook and keep customers returning. Reduce Churn Rate With Customer Loyalty Ensuring that you follow the techniques for retaining customers will ensure that you can minimize your churn rate and boost sales. The best part is that they don't have to be complicated and time-consuming processes. Simply following the tricks mentioned above will ensure that you can keep happy customers returning for longer. Additionally, ensure your techniques are working by learning how to track customer retention.
Churn Rate vs. Retention Rate: Similarities and Differences
Retention rate and churn rate may be two closely related KPIs for determining website performance, but they are not the same. Retention rate measures the percentage of customers that continue to buy from your business over a set period of time, while churn rate measures the percentage of customers that are lost. Calculating Churn Rate and Retention Rate To calculate your retention and churn rate, you'll need the following metrics: Number of new customers in the last 30 daysNumber of new customers in the last yearNumber of new customers that cancel after the first 30 daysNumber of new customers that cancel after the first yearThe average number of months a customer stays before canceling Calculating Retention Rate To calculate your customer retention rate, you will need to first determine the time period you wish to view. From there, you can fill in your data to the following formula: [(Customers at the end of a period - new customers over that period) / customers at the beginning of the period] X 100 Calculating Churn Rate There are two types of customer churn rates: Voluntary churn When customers leave because they're unhappy.Involuntary churn When customers leave for reasons such as failed payments. Whichever reason, a high churn rate is not ideal and should be reduced whenever possible. To work out your customer churn rate, use the following formula: (Customers who left at the end of a period / Total number of customers at the start of the period) X 100 Churn Rate vs. Retention Rate: Key Differences Churn rate and retention rate are inversely proportionate, meaning that as one rises, the other falls. This indicates that there are some major differences between the two metrics, including the following: Churn rate refers to the percentage of customers that leave over a given periodRetention rate refers to the percentage of returning customers over a given periodA higher retention rate results in a higher ROIHigh churn rates are directly related to a loss in salesA high retention rate indicates customer satisfactionA high churn rate indicates that customers are unsatisfied with your product or servicesBusinesses aim at a high retention rate and a low churn rate Relationship Between Churn Rate and Retention Rate The main way churn rate and retention rate are related is that they both indicate customer satisfaction. Moreover, they are directly related to each other. For example, a company with a high churn rate will, by default, have a low retention rate, and visa versa. Determining your churn rate will give you a better understanding of how your customers are unhappy with your services, while determining your retention rate will show you what you're doing right.
Understanding Goal Funnel Visualization in Google Analytics
The ultimate goal of any business, regardless of industry, is to ensure that customers perform an action that will ultimately result in some sort of conversion. Luckily, we live in a world where there are custom reports on Google Analytics that give businesses the insight they need to increase conversions. The Goals settings advanced feature, goal funnel visualization, enables you to graphically analyze the path to a conversion (or goal). Funnel analysis enables organizations to identify user behavior in real-time regarding conversions or goals. As part of your website performance research, funnel visualization lets you look at more than the overall conversion rate and total conversions. Goal funnels may be used to visualize the conversion path. When goals are enabled, you can track key performance indicators like: Total goal conversion rate.Total goal completions.The number of times a goal was triggered.The rate at which users/sessions are being converted. How to Set Up Goal Funnel Visualization in Google Analytics Step 1: Create a goal Make a primary goal first, and then add the advanced visualization features. On the Google Analytics dashboard, click the "Admin" or "Gear" icon in the bottom left corner. Next, go to the "View" area and choose "Goals". Step 2: Add a New Funnel Goal Click the red "New Goal" button. Choose "Custom" under the Goal set-up dropdown list, and click "Continue". Step 3: Add a Goal description Enter the following information about your funnel goal, then click "Continue". Name A distinctive name used to locate the goal in the Google Analytics account.Goal ID/Goal set All information about the specified goal is stored under this ID.Type Here, based on the business use case and data needs, you choose the type of goal. Step 4: Goal details Name the page that will serve as the conversion's final destination. This may be specified in three ways: Equal toBegins withRegular expression Next, turn “ON” the funnel. Add the various phases of the funnel where user activity will be captured under the funnel section. The values for "Name" and "Screen/Page" must be entered for each step. Click "Save" after providing all the necessary details for the goal funnel visualization. The goal will be to have user engagement on the designated sites right away. Benefits of Goal Funnel Visualization in Google Analytics Understanding user behaviorProviding information on the user experienceDetermining the source of high-quality visitsHelping discover more significant issues, including issues with categoriesFinding and improving your top (and worst) performing pagesAccessing data supports crucial decision-making processes for your website and online business Limitations of Goal Funnel Visualization in Google Analytics Only destination goals are eligible for funnel creationOnly one goal is increased for each sessionThe report does not include any historical data; it solely represents facts going forwardAdvanced segmentation isn't supported by the reportThe report date comparison option does not display the difference for various funnel phases.A report reveals up to 50,000 different pathways each day Should You Use Goal Funnel Visualization in Google Analytics? Unfortunately, no one can answer this question for you. It depends almost entirely on whether you want to put in the time to set specific goals or if you'd prefer to focus on other areas of potential growth. You have to weigh up the pros and cons yourself.
Successful Shopify Entrepreneurs
Importance of Customer Onboarding Explained
Customer onboarding is the process that a potential customer goes through to get set up with a product or service. The process covers the entire journey from the initial sign-up through to first use. The goal of customer onboarding is to set your customers up for long-term use of your product or service from the initial stages. Benefits of Effective Customer Onboarding A happy customer is a returning customer, and a smooth and effective onboarding process is one way to achieve this. There are numerous benefits to an effective onboarding process, some of which include: Increased customer satisfactionReduced churn rateIncreased retention rateIncreased ROI through low acquisition costsIncreased customer lifetime value (LTV)Boosted referrals and word-of-mouth marketingReduced need for customer careShorter time it takes for customers to find value in your product The Customer Onboarding Process Many marketers believe that the onboarding process begins once a customer has signed up for a product or service and begins to use it. The problem with this is that you may be losing a lot of customers during sign-up as you haven't included this in your onboarding process. As such, the onboarding process should start when a customer begins the sign-up process, and not after. The customer should be guided, step-by-step, through the sign-up process, and gently directed on how to continue to use the product. How to Implement and Improve Customer Onboarding The first step to implementing an effective customer onboarding process is to set goals and establish your team. From here, you can begin to map your customer onboarding journey, which should include the following: Sign-up Don't ask too many questions, and ensure it's intuitive.Welcome email Welcome your customer and ensure you have the answers to their problem. Direct them to the next step.Account setup Make this easy and effortless. Only ask for essential information and allow the customer to return at a later stage to complete the rest.Product demonstration Use videos, step-by-step instructions, training modules, and pictures to demonstrate the finer details and features of your product. The less guesswork your customer has to do, the better.First transaction The goal is to make your customers move through the onboarding process and make their first transaction as soon as possible. Conducting a customer journey analysis will allow you to determine points where customers are less likely to churn. Once your onboarding journey is complete, begin creating content for the onboarding process. Edit, test, and pre-launch the onboarding journey to work out any bugs, grammar issues, or confusing points. You want to make the process as easy and efficient as possible.
Successful Shopify Entrepreneurs
Benefits of Customer Loyalty Programs for E-Commerce Stores
Loyalty is built over time, and one thing is certain: people are more loyal to merchants that reward them. What could be better than getting compensated for a good or service you would use anyway? A loyalty program is one of the easiest customer retention strategies any business can implement. It is a marketing tactic to get and keep customers returning to a store or using its services by providing rewards, discounts, and other unique incentives. 1. Increases sales Loyalty programs may significantly increase your online sales. Giving customers rewards for their purchases in the form of loyalty points encourages repeat business and builds consumer loyalty over time. Of course, the benefits obtained with those points give them worth. You can offer incentives such as a discount, a free item, free delivery, and other things. In essence, turn the reward into something that your consumers will value. 2. Cost-Effective Solution Generally speaking, maintaining your current clients is less expensive than obtaining new ones. It would have taken you a lot of work, time, and money to establish the credibility you have with your current consumers, and it would take dedication to transform a new consumer into a devoted one. However, since your current customers have already experienced your trip, it costs less to convince them to make frequent purchases than it would persuade a new client. 3. Increases Brand Awareness Loyalty programs have the potential to reach more people organically. Customers who receive an incentive on a purchase are more likely to recommend the business or service to their circle. Customer acquisition is expensive, and loyalty programs are a successful way to reduce that cost. 4. Customer Satisfaction E-commerce businesses with reward programs provide customers with a better shopping experience. One thing that customer loyalty programs guarantee is client satisfaction and pleasure. Incentives show that you don't just view them as one-time customers but also want to keep a good rapport with them in the future. 5. Sets Your Business Apart From Competitors When choosing where to buy, incentives make the decision for the buyer much more accessible. Treat each customer with respect and appreciation. A more personalized customer experience is provided by tapping into your customers' emotions, allowing you to differentiate your brand and business. Make your customers feel that you appreciate their business and want them to come back. The Importance of Customer Loyalty For good reason, customer loyalty programs are a go-to strategy for marketers in many sectors to address client retention. A positive customer relationship is necessary for a business to flourish, and loyalty programs may aid in this process. Some companies use loyalty programs to target specific audiences. For example, they might offer discounts only to those who sign up for a newsletter. This allows them to identify their most valued audience segment, providing a more accurate way of measuring customer loyalty.
Learning From Google Analytics Audience Reports
As a business owner, it is essential to understand your target audience. The Google Analytics Audience Report is a tool that can help you execute in-depth audience analysis crucial to the success of your business. By analyzing Google Analytics user metrics, these reports show how users interact with your site and provide information about your visitors, such as demographics, interests, behavior patterns, the technology used, and more. How to Access Audience Reports in Google Analytics To access the Audience report: Log in to Google AnalyticsGo to the "Audiences" tab in the left navigation barThen select "Overview" under the Audiences section Types of Reports Included in Audience Reports Here are some of the reports available in the Audience section: Overview report The overview report provides a synopsis of a few important metrics of your website, such as acquisition and engagement.Active users report Here you can see the number of active users on your website for a specific date range.Lifetime value report This lets online retailers measure customer performance across numerous sessions. You may compare user lifetime value by acquisition, helping to finetune campaign budgets.Cohort analysis report This report analyzes selected cohorts. The cohort is basically a collection of users with comparable interests. User explorer report This contains information about the behavior of the individual user on your website based on their Client ID or User ID.Demographics and interests reports Using this report, you can find out who visits the website and what their age, gender, and interests are. By customizing ads to specific demographics and interests, conversion rates will improve.Geo report Here you will find the location data of the users based on their IP addresses, including language. This is helpful if your business targets international users.Behavior report This section analyzes how frequently a user visits your site, the duration of time spent on your site, and how many pages they see.Technology report This report provides audience analysis based on the technology they use to access your website, such as browser, OS, screen resolution, etc. Mobile report Find information about different types of mobile devices, mobile operating systems, and more.Custom report This lets you create Google Analytics custom reports with metrics that are essential to your business. Benchmarking report Use this to gain useful insight into the websites of your competitors to help you make informed decisions.User flow report This report shows how your website is navigated by a user. Key Insights Available Through Google Analytics Audience Reports Identify What Content Works Best for Your Audience By tracking data such as traffic sources, bounce rates, demographics, and behavior patterns for individual pages, you can see which pieces of content are performing well and which ones aren’t. Then, based on this information, you can tailor your strategy accordingly and boost engagement. Accurately Segment Your Target Audience Marketing to uninterested audiences is a waste of time and money. Using the Audience reports, you can learn which strategies get the most attention from your target audience. Your content and tone of voice can be tailored to the needs of the persona of your target market. In addition, you can compare audience segmentation in Google Analytics and see detailed statistics about each one. Users can be segmented in many ways, including based on time on site, visits to specific pages, goal completion, location, and more. Improve Customer Retention If you compare New vs. Returning users, you can determine how many people are coming back to your website again and again. If your customers return to your site more than once, you can determine how successful your customer retention program is. In case you have low loyalty users, you can optimize your content to draw previous users back to your site.
Website Troubleshooting With Real-Time Reports in Google Analytics
Custom real-time reports in Google Analytics show you data about your website as it happens. This includes information on site visitors, pages they're currently viewing, and where they're coming from. In this blog post, we'll take a closer look at real-time reports and how they can help you understand your website traffic. Real-time reports can be useful for a variety of purposes. For example, you can use them to see how effective your marketing campaigns are by analyzing Google Analytics metrics in real-time or to troubleshoot website issues as they happen. Types of Real-Time Reports Overview This is the big-picture view of what's happening on your website at any given moment. The Real-Time Overview report shows how many visitors are currently active on your site, top-ten active pages, top referral and direct traffic sources, top social traffic sources, and more. Locations The Real-time Locations report shows where your audience is located. This way, you can plan future marketing efforts based on global locations. For example, if most of your customers come from Asia, you might want to focus on localizing your product descriptions, images, and videos. Traffic Sources The Real-time Traffic Report shows which mediums and sources are referring site visitors who are currently online. Knowing this, you may invest in a mobile app, redesign your website, or improve your campaigns. Content Find out which specific pages visitors are currently active on by viewing the Real-time Content report. It displays the URL, page title, and the number and percentage of active users. You can also see what percentage of visitors access your site from a desktop, mobile, or tablet, and even track scroll depth. Additionally, take a look at our post on sessions vs. pageviews to learn more. Events You can use the Real-time Events report if you've set up custom events for interactions on your site, such as buttons, downloads, videos, or ads. This report allows you to view the top events that have occurred on your site in real-time, as well as those that happened within the last 30 minutes. Conversions With Real-Time Conversations tracking, you can observe which devices convert and how your goals are progressing. Instead of tracking site interactions, Goals track business-boosting behavior. Among them are purchases, sales forms, and subscriptions. How to Access Real-Time Reports in Google Analytics Select the ‘Admin' panel on the left-hand side and choose your desired viewClick on the ‘Real-time' report from the left-hand menuSelect the ‘Overview' tab under ‘Real-time' to see the report Limitations of Real-Time Analytics Compatibility Issues The real-time reporting feature is not compatible with User ID Enabled Views. If you want to continue using real-time reporting while enabling User ID Enabled Views, disable the feature.Filtered views Real-time reports often show inaccurate information because they're filtered based on certain criteria. There's a good chance that one of these filters will throw off data like date range, location device type, and more. Usually, changing or undoing some of the filters will resolve the problem.No data in real-time If you don't see any activity in your Real-Time dashboard, the most likely cause is that users are logged out of your account. To resolve this issue, log back into your account and make sure that the real-time option is checked under "My Sites".Mobile app tracking In order to conserve battery life, mobile hits are batched, so you may see delays. In most cases, batching occurs within minutes. With all the aforementioned information, it's clear to see that real-time reporting in Google Analytics is a simple and extremely beneficial way of understanding how your company is performing at any given moment.
Successful Shopify Entrepreneurs
Create Custom Shopify Reports With These Simple Steps
Are you looking for ways to get more insights out of your Shopify data? If so, you might want to consider creating custom reports. Custom reports can help you track and analyze your Shopify data in ways that are specific to your business needs. Much like Google Analytics custom reports, you can edit and save different types of reports in Shopify. the only caveat is that you have to be on the Advanced Shopify or Shopify Plus plan. If your store is on the Basic Shopify or Shopify Standard plan, then you cannot change the format of existing reports or create custom reports. How to Create Custom Shopify Reports To create a custom Shopify report, follow these easy steps: Go to your Shopify admin, then select Analytics > ReportsSelect Create custom reportNavigating from the Choose starting point dialog, choose the type of report that best suits your business needsName your report under TitleHit Create custom reportCustomize your new report by filtering and editingOnce you have completed creating the report, select Save report You can find your report on the Reports page of your Shopify admin, under Custom reports. Types of Custom Reports That You Can Create You can modify default reports and turn them into custom reports. A custom report looks like any other Shopify report but uses filters to create Shopify KPI results that suit your business goals. To modify a default report, add filters and editing columns to see just the information you want. Then save the report as a custom one. To modify a custom report, simply add filters and edit the columns. Then click Save report. Shopify Analytics is Shopify’s built-in data dashboard where you'll find several reports that display information about your store. Here are the types of reports available in Shopify analytics: Acquisition reports Provides information about how your customers came to the site, including referrals and location.Inventory reports A Shopify inventory report helps you monitor the available inventory as well as gives you insight into which items sell best and which ones don't.Behavior reports Gives you data that helps you understand your consumers' shopping behaviour and conversion rate. You can also pull a bounce rate report to see where shoppers are dropping off. Marketing reports Here you can evaluate the results of your marketing campaigns and which channels are generating more sales.Customers reports Learn who your customers are and get data on how they interact with your online shop.Finances reports This report presents an overview of product sales, payments, liabilities, and actual profit.Orders reports Provides information about fulfillment, such as the volume of orders placed, shipped, delivered, or returned. Profit reports Gather insights into your profits as well as profit margins. Retail Sales reports This provides data on sales done offline, in physical stores.Sales reports These provide detailed information ( gross sales, shipping, taxes, etc) about your store’s sales performance over a given period of time.Product Analytics See a detailed view of how your products have performed over the last 90 days. Conclusion Although custom Shopify reports can be extremely beneficial, you should also consider adding Google Analytics to Shopify for a far more in-depth review of your store's analytics.