Sales reports (sales in a particular period & numbers of orders placed, tax
reports, shipping reports per carrier/method used and coupons report).
Product reports (products ordered in a period, how many products were
abandoned from the cart, most-viewed products, best-sellers and low stock products).
This variety of reports helps businesses to assess the value and success of their product offerings. It helps them look at the complete picture of their business scenario. The great part about choosing Magento is that it is customizable, with like what we developed here at Galaxy- Magento Unsold Product Extension. As the name suggests, this Magento product management extension provides with business intelligent information about the products in an online store that have been unsold for quite some time. It is very useful information because a business should always keep a track on what it sells and what it stores.
Sales Analytics reports should not only include the bestsellers from an online store but it must provide data about the store’s performance in general. This report would be incomplete if businesses do not have the information about the bottlenecks in the sales pipeline. Magento Unsold Product extension helps businesses keep a track of their inventory by ensuring that the unwanted stuff is filtered from the store.
It provides information like the least popular products in the store. This kind of intelligence avoids the costs incurred in procuring or housing these products. These funds can be rather utilized in purchasing or marketing the products that bring conversion. Magento Unsold extension aids the businesses to have a 360-degree snapshot of the store’s performance (alongside utilizing information from the sales and products reports provided by Magento).
In an online store, the biggest challenge is retention of customers because the competition is fierce. There may be a lot many stores selling the same kind of product. In such a scenario, if a store houses products which are not popular or wanted, it is wasting web pages, web resources and customer’s visit which can otherwise be used for directing him to products which make up for a popular recommended product, and higher the chance of generating revenues. The Magento Unsold Product report provides the following information:
Number of unsold products between certain dates
How many times a product is viewed between those dates but remained unsold
This data is displayed on the screen in a tabular format. Since Magento Unsold reports are similar to native Magento reports no special training, knowledge and effort is required to learn them. The base features of Magento Unsold Product are-A business strategy certainly depends on the precision of collected analytics. Preparing a report manually is quite cumbersome. Automatically generated reports minimize your time & efforts resulting in increased efficiency, and Magento Unsold Product tracking report is undoubtedly an important one to have.Contact us to get this reporting extension in your Magento suite, and focus, track & prioritize the products in your online store.