Sales Numbers - Feelings Aren’t Facts
I hear this a lot. "Sales are down". My first question is ok, "what numbers are you looking at exactly?"
In order to best determine WHY numbers are down, we need the whole enchilada, not just the sauce drizzled on top.
And if sales are down because of a feeling you have, pleasssssse do yourself a favor and remember that feelings aren't facts.
Here are some quick numbers you can look at to see if sales are down and what's causing that to happen. The look back for all of these should be 30 days compared to the previous 30 days.
Overall Revenue - this will confirm whether or not sales are actually down.
Average Order Volume - this can tell us if sales are down because you're moving items that are priced lower on average than the previous month. This might especially come into play if you're leveraging a lot of tees vs denim, sweaters, etc.
Returning Customer Rate - Are people returning to your shop or are they buying one thing then moving on? THIS IS A HUGE CONTRIBUTOR to a decline in sales.
New customer Rate - The opposite of number 3, are you bringing in new customers.
Conversion rate - Are you converting more or less people from site visits? If it's less, did you change something on your site?
What does the story of your numbers paint about your business?