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📢 [UPCOMING] Seller Portal Refresh, please refer to this FAQ for more information!
Module Chapters
Module Chapters
Chapter 1
Reports Available
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Chapter 2
Understanding Store Performance
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Chapter 3
Evaluating Performance
Chapter 3: Evaluating Performance
Now that you have understood your store performance, you can now evaluate your store's performance to increase effectiveness of your marketing campaigns.
Understanding the effectiveness of marketing efforts can help you to implement targeted strategies that drive customer engagement and sales more effectively.
Evaluating Your Store Performance
Evaluating Your Store Performance
The Product Sales tab provides you with product data in these sections:
1. Quantity Sold
The Quantity Sold column gives you a quick understanding of your customers' demand for your products and number of purchases. You can filter by Day, Week, and Month for your selected Date Range. You may also compare Quantity Sold between 2 date ranges with Comparison Date Range.
If the Quantity Sold has decreased with your compared date range, it suggests that demand in those products are changing. Another possible reason could be that your product information is lacking. You may improve your product listings by uploading quality images and detailed product descriptions. For Listing Best Practices, please read Creating Eye-catching Listings.
💡 Tip
You can use the Quantity Sold column under the Product Sales tab to:
2. Total Discounts
The Total Discounts column shows you how much discounts you have given to your customers through promotions you have set for the Date Range. You may use this data to see if there is a correlation between giving more discounts and getting more sales. If this return on investment did not improve despite giving more discounts for a particular product, this product may not be meeting your customers' needs and you may want to reconsider procuring more stocks.
💡 Tip
If you have set promotions over a period of time, you can track their performances during that time period via the Data Range filter. You can see the duration taken for sales to increase after the start of the promotion, and how the sales are after the promotion ended.
3. Total Sales
The Total Sales column shows you how much you have made from sales of your products after discounts. By tracking sales at a product-level, you can assess the effectiveness of your marketing efforts.
4. Average Selling Price
The Average Selling Price column shows you the average price at which your product is being sold to your customers. Having an established Average Selling Price for a product can be a benchmark price for you to observe how much customers are willing to pay for your products.
💡 Tip
If you find your Average Selling Price is not ideal, try introducing larger pack sizes or creating value bundles to increase your Average Selling Price.
Increasing Effectiveness
Increasing Effectiveness
Tips on how to increase effectiveness of efforts once you have evaluated your store performance:
1. Targeted and Integrated Campaigns
Target your key customer segments with an integrated campaign across your social media channels. Participate in our campaigns, nominate relevant products, and include your FairPrice store across your customer engagement strategies.
2. Measure your Return on Marketing Investment
Always measure the outcomes of your marketing efforts to ascertain what really works and what doesn't. This will give you a better idea of knowing what to invest in for maximum returns. You will get more relevant data the more you test and measure.
For example, knowing the keywords customers use to search for your products can help maximize its exposure through CitrusAds.
3. Create Value Bundles
Introducing bundles that consists of two or more items that are otherwise sold separately is a great way to up-sell to new and existing customers. This will be especially effective for products that are complementary or refillable. You may also want to introduce larger pack sizes to your existing assortment for your top products.
4. Re-evaluate your Product Mix
Launching new products, bundles, or pack sizes is not the only way to increase your store's Total Revenue. You can identify your products with an above-average selling price in your assortment, and focus your marketing efforts on these identified products.
If you can grow the identified products faster than your lower Average Selling Price listings, the Total Revenue of your store will increase.
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