How to Measure the Holiday Sales of Your Ecommerce Business

Business data plays a crucial role in the success of all business and e-commerce stores are not exceptions. No matter what industry you belong to, sales data that are gathered help in merchandising and marketing decisions. The holiday season usually sees a huge growth on sales and this offers a great opportunity for the retailers to capitalize on the volume of consumers planning to kick-start their buying during the biggest shopping weeks of the year.

By tracking the sales analytics throughout the execution process, you can now be able to sell a strategy and be more confident with real time results. 

To help your business grow this coming holiday season and the new year, I have gathered some practical steps to help you with calculated decisions by tracking your e-commerce sales, transactions, conversions and profits.

Measure Your Sales and Campaigns:

Measuring sales per square foot will help you to track the number of sales that you have made per square foot of store space. By doing this, you can see check the productivity of your store and whether you are using your space effectively or not. Make your layout decisions based on this information.

In case you are lacking in productivity, consider teaching your staff some tactics like cross-selling and upselling that will help to boost the transaction value, optimize the process, improve any visual merchandising and etc. Each point has a great effect on the number of products that your store will sell.

Measure Your Conversion Goals:

Before the holiday shopping season is at its peak, it’s time to set the conversion goals for the landing page and also the content. Once it is on, measurement of the user’s action is crucial like clicking on a link or even making a purchase. This will help you to monitor the visibility of your advertisements and how consumers are getting engaged with them. The conversion rate identifies the percentage of the store visitors that change into buying customers. This conversion rate helps to know your efficiency at turning window shoppers into buyers.

To improve the conversion rate of your e-commerce store, start with your sales staff and help them to be more knowledgeable about the products that they are selling. They should develop the quality to convince their customers of the value of the product without being pushy.

Measure Your Sales Transactions:

This will help you to track the average amount of money that the customer spends per transaction in your store. Measuring this will help you gain visibility on the records and a high transaction value would often mean that the customers are purchasing expensive items or they are buying large volumes of items. Low average transaction value would mean that you should consider your pricing strategy or even train your sales associates on how to get customers to spend more time and how to upsell.

Also Read: Transaction Email Templates in Magento 2 And How You Can Customize Them

Measure Your Profits: 

Tracking your gross and net profit will tell you how much profit you are making after deducting the costs of buying, creating and selling the product. It helps you to see if you are really making any money or not from your e-commerce business. Monitoring your profits clearly will enable you to make a smart business decision and if your gross profit is low, then you should consider measures to reduce your overhead expenses.