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3 Lightspeed Analytics eCom Reports for Optimising Online Sales

3 Lightspeed Analytics eCom Reports for Optimising Online Sales

If you’re reading this, you want to improve your online store’s performance through Lightspeed omnichannel.

You’ve come to the right place!

Enter: Lightspeed Analytics eCom reports.

These reports help you dig deeper into either your retail store(s) or online store’s sales and identify trends unique to that channel—like how your sales trend over time and which regions generate the most sales.

Here are the five Lightspeed Analytics eCom reports we suggest using to unlock your online store’s full potential:

  1. Average basket size
  2. eCom sales trend in time
  3. eCom sales by day of the week

Not using Lightspeed Analytics yet?

Get in touch with our team of retail experts for a free, personalised consultation today.

 

1. Average basket size report

Your average basket size is a measure of the average number of items sold per purchase. Without adding any additional filters, the average basket size report gives you the average for your whole business. If you enabled the is_eCom sales dimension, you can see the averages for your brick-and-mortar and online store independently.

Why this report matters

How should you position your products and upsells to your eCommerce clientele? Do they spend more or less online or in-store?

Your average basket size report gives you a baseline of how your different channels are performing in relation to each other; it’s a litmus test for your business. You should run it regularly—say, quarterly—even if you think you know the answer.

How to access the average basket size report 

To access your average basket size report, just follow these five steps:

  1. In Lightspeed Analytics, navigate to your sales and inventory reports.
  2. Run the Recent Sales report.
  3. In the Sale Completed Date filter, expand the range to encompass the last three months.
  4. Find the is_eCom dimension and add it as a pivot. Under the Measures dimension, there is an Avg. Basket Size measure; add it as well.
  5. Hit Run in the top right corner to generate the report with your new variables.

Editor’s note: For a more detailed walkthrough of this report, head to our in-depth community post on how to run an average basket size report.

For example 

In this example, we ran the report from August to October 2019; the light blue column represents our brick-and-mortar store’s average basket size while the dark blue is our online store’s average basket size.

 

Our report shows us that our online store’s average basket size is slightly higher than our brick-and-mortar store.

Now, what do we do with this information?

Perhaps we should give some thought to our brick-and-mortar strategy. Are our sales associates suggesting the right products to customers? Maybe we need to create more enticing point-of-purchase displays or rethink our store merchandising. Our average basket size report let us know where there’s an opportunity to grow.

 

2. eCom sales trend in time report

This report gives you the big picture of your sales. You can use it to see how your online store’s sales are performing compared to your brick-and-mortar store.

Why this report matters

This report will let you know if your eCommerce store’s sales are trending upward, stagnating or declining compared to your in-store sales. With that data, you can take action and figure out what’s causing growth, stagnation or decline in sales.

There are three questions you can find the answer to using this report:

  1. Which channel is performing better?
  2. Which channel needs more attention?
  3. Did your in-store and online promotions lead to more sales on that channel?

How to access the eCom sales trend in time report 

To see your trends, follow these three steps:

  1. Run the Recent Sales report.
  2. Select your desired date range in the sale completed date filter.
  3. Add your is_eCom pivot.
  4. Click Run to generate the report.
  5. Open up the visualisations and plot the data on a line graph to view.

Editor’s note: For a more detailed walkthrough of this report, head to our in-depth community post on how to run an eCom sales trend in time report.

For example 

In this example, we can see that our in-store sales—the teal line—have been trending upwards, as have our online sales, represented by the turquoise line.

At the start of the year, our in-store sales trended upwards faster. Our fall sales are starting to see a spike in online activity, one more dramatic than our in-store sales.

Now, we can start thinking about what promotional efforts we were undertaking during those spikes. Were we focussing more on in-store sales and events during the beginning of the year? In the spring, our growth, while still positive, begins to slow—did we end any winter promotions that were doing well? Perhaps it’s time to bring them back.

We can also think about how our in-store and online strategies may be differing. What has caused our recently skyrocketing online sales? Can we replicate that activity in-store?

 

3. eCom sales by day of the week report

While seeing how your sales trend over time is important for your big-picture strategy, a more granular report helps you figure out short-term growth plans.

Enter: The eCom sales by day of the week report.

Why this report matters

This is a relatively simple report that will help you with your promotional strategies.

Are there days of the week where you sell more than others? Do you have any lower-performing days? How consistent are your peak business days—do they change for certain times of the year (like before the holidays)?

By knowing what days your online store most active, you can time your in-store and online promotions better and maximize your sales resulting from those promotions.

 

How to access the eCom sales by day of the week report 

To see your sales by day of the week, follow these four steps:

  1. Run the Recent Sales report from the sales and inventory reports section.
  2. Select your desired date range in the sale completed date filter.
  3. Add a day of week dimension for the sales.
  4. Add the is_eCom pivot.
  5. Run the report.

Editor’s note: For a more detailed walkthrough of this report, head to our in-depth community post on how to run an eCom sales by day of the week report.

For example 

In this example, we can see that our online sales—represented by the dark blue column—are highest on Sunday and Thursday. Our in-store sales, represented by the light blue column, are highest on Saturday.

Sunday, Thursday and Monday are the days that we’re making sales online. This will inform what days we decide we should be posting promotional material on social media. Because Sunday and Thursday out-perform the other days of the week, we could try launching and promoting new products on those days.

Next, we should examine our lower-performing days. What could we do to boost sales? Consider flash deals, daily discounts and featured product promotion to bring the numbers up.

 

Make reports work for you

Using concrete data to manage your eCommerce store leads to more effective sales strategies, smarter promotions and the potential to drive more revenue, both online and in-store.

Get in the habit of running these reports quarterly (at a minimum) to have the most comprehensive picture of your eCommerce activities.