By selling your products across multiple channels, you reach out to a larger number of customers and significantly increase your sales. With multiple sales methods, you let customers reach your business the way they want. This convenience improves brand loyalty and trust. But it means nothing to your risk management if you’re unaware of each channel’s performance.
Report Pundit’s Sales by Channel report sheds light on exactly that. It displays data on multiple sales channels like Online Store, Draft Order, Mobile, Third-party referred order and POS.
By analyzing this report’s data, you learn each sales channel’s performance. You can even pinpoint the one that’s doing the most for your business and learn why.
The Sales by Channel report is the tool you need to maximize the value of every sales avenue.
How the Sales by Channel Report Works
Let’s understand this report by looking at Brett, a Shopify merchant selling furniture online.
Last year, Brett decided to add POS and a mobile app to his list of sales channels to expand his business revenue.
But, he quickly ran into issues:
- He couldn’t tell the overall net sales from his POS method since he didn’t know how to reconcile revenue from multiple terminals.
- He couldn’t run successful discount campaigns across channels due to that reconciliation problem.
- He couldn’t develop an effective pricing strategy for each product across sales channels, so he failed to accurately account for the varying overheads of the different sales methods.
His sales monitoring practices didn’t cut it for the new methods. Brett needed a clear picture of each channel’s performance to rework his sales monitoring practices. And so, he chose Report Pundit to help him beat this challenge. He studied the Sales by Channel report for data on his two new sales methods.
He soon realized that his POS sales grew rapidly last year, ahead of his mobile app but remained behind his online store.
He can improve POS customer experience and maximize its performance. He can apply a discount percentage across sales methods for each item without affecting profit margins. His products can be priced competitively across channels without experiencing losses.
Likewise, he’s also working to bring his app-based sales up to speed. Brett can finally realize his dream of increasing revenue using multiple selling methods.
Brett’s example shows that the Sales by Channel report gives insights into:
- Your customers’ preferred sales channel. You can redirect your resources to make the most of it.
- Customer behavior. You’ll learn why they choose one channel over another, helping you create better customer experiences and improved marketing campaigns.
- Top selling products at each channel. You can fine-tune your product lineup to match customer demand based on the sales venue.
Data Fields in the Sales by Channel Report
The standard fields in this report are:
- Sales Channel: channel through which the customer placed an order. Examples include POS, Web, Third Party, Phone, etc.
- Orders: number of orders placed in a channel over a selected time period
- Gross Sales: gross sales amount per channel. Calculated as Product Price * Ordered Quantity
- Discounts: discounts given per channel. Sometimes discounts are channel-specific to entice customers into placing an order via that sales method
- Example: Offering 10% discount for mobile app orders to boost its sales
- Refunds: refunds issued by channel
- Net Sales: net sales of various channels over a selected time frame. Calculated as Net Sales = Gross Sales – Discount – Refunds
- Taxes: total taxes collected for each Shopify order by sales channel
- Shipping: fees collected to ship orders per sales channel. For POS orders, it’s typically none. Merchants may offer free shipping for other channels too
- Total Sales: total sales amount including taxes, shipping, discount and refunds made by sales channel
How to View the Sales by Channel Report
It’s a simple 3-step process:
- In your Report Pundit app, click Library in the navigation bar.
- Check out the Sales & Order Reports section.
- When found, click Sales by Channel.
Quick Tip: Type ‘Sales by Channel’ in the Library’s search bar to quickly access the report.
Frequently Asked Questions
- Why do I need the Sales by Channel report?
Report Pundit’s Sales by Channel report provides an overview of sales generated from specific channels for a selected time frame. It helps Shopify merchants recognize high-performing sale channels, identify the reasons for it and redirect resources to maximize their sales potential.
- How do I identify my most successful channel during a certain period?
The Sales by Channel report can sort sales channels by performance over a selected time period. You can sort in descending order to view your highest performing channel at the top.
- Would it be possible to exclude a specific channel from the report?
Yes, the report can filter out a specific channel and provide the numbers from other channels. You can use Report Pundit’s filter function to remove specific channels or can reach out to our team at firstname.lastname@example.org who can set up the report excluding the channel(s) that you don’t want to see in the report.
- Can I change a channel’s name to match its order’s source?
You can customize the report as required with Report Pundit’s custom function option. For example, you can change “Facebook” channel name to “Online Sales” if you use it to gather data from orders across online channels. You can also reach out to us at email@example.com for help setting it up.
- How can I run the Sales by Channel report in Report Pundit?
Follow this path: Report Pundit App -> Library -> Sales & Order Reports -> Sales by Channel