Product Repurchase Rate Report
The Product Repurchase Rate report allows you to understand the behavior of repeat customers and how it relates to specific products in your store. This report can be used to identify which products have the highest customer loyalty, and which products may need more marketing efforts. Here's a breakdown of the terms used in the report:
- Product ID: The unique identification number assigned to the product in your store.
- Product: The name of the product.
- Orders: The total number of orders that included the product within the selected time-frame.
- Customers: The total number of distinct customers who purchased the product within the selected time-frame.
- Repeat Customers: The total number of distinct customers who purchased the product more than once within the selected time-frame.
- Products Purchased: The total quantity of the product purchased within the selected time-frame.
- Products Repurchased: The total quantity of the product purchased after the first order and within the selected time-frame.
- Repeat Customer Rate: The percentage of customers who purchased the product again after their first order over all time.
- Product Repurchase Rate: The percentage of all products purchased after the first order. A higher value suggests a strong customer affinity to a product within the selected time-frame.
To access the Product Repurchase Rate report, navigate to the Reports section from the left side menu, and then select the Products Repurchase Rate Report from the Products section. You will be able to filter the report by date range, sales channel, and segment. Additionally, you can group products by product, variant, SKU, or vendor, and set a minimum number of purchases to include in the report.
The Repeat Customer Rate and Product Repurchase Rate can be used to identify which products have the strongest customer loyalty. By focusing on products with a high Product Repurchase Rate, you can develop targeted marketing efforts to encourage repeat purchases and increase customer loyalty. On the other hand, products with low repurchase rates may require more marketing efforts, or a reevaluation of their pricing or availability.
In summary, the Product Repurchase Rate report in By the Numbers provides valuable insights into the behavior of repeat customers in relation to specific products in your store. Use this report to identify which products have the highest customer loyalty, and develop targeted marketing efforts to encourage repeat purchases and increase customer loyalty.