A dashboard that contains product-level repurchase rate data, allowing merchants to understand how often certain SKUs are repurchased
The Product Level Repurchase dashboard is designed to provide merchants with repurchase rates and days between purchases for specific SKUs. Rather than looking at repurchase rate at just the customer level (how often does a given customer come back and buy again, regardless of product), this dashboard shows repurchases made of the SAME product. Using this dashboard, merchants can answer the following questions:
- How long does it take customers to repurchase a specific SKU? This information can be used in retention campaigns to decide when to send a follow up email to a customers based on the SKU they originally purchased.
- How often do merchants repurchase the same SKU? This can be used in conjunction with the first bullet and with the Product Affinity visualization to determine what products should be displayed in retention campaigns.
The dashboard contains one section:
The following tiles are included in this dashboard:
Number of Unique SKUs Sold: Count of Unique SKUs sold in this time frame
Avg Days Between 1st and 2nd Order Same SKU: The average number of days between the first and second order of the same SKU across ALL SKUs. Filtered by time frame.
Avg Days Between Purchase of Same SKU: The average number of days between any purchases of the same SKU. For instance, if someone purchased SKU 001A on 01/01/2021, then repurchased the same SKU on 01/15/2021 (14 days since first purchase), then repurchased it again on 01/21/2021 (6 days since second purchase), the average number of days between purchases of SKU 001A would be 10 days ((14 +6) / 2). Filtered by time frame.
Repurchase Rate of Same SKU and Avg Days Between Purchase by SKU: For the top 10 SKUs sold all time, this shows the repurchase rate (how often someone buys this same product more than once), and the average number of days between any order of that SKU. Filtered by time frame.
Days Between Any Order and Days Between 1st and 2nd Purchase of Same SKU: For the top 5 SKUs sold all time, this shows the average number of days between any order of that SKU, and the average number of days between the 1st and 2nd order of that SKU. Filtered by time frame.
SKU Details: Units sold, new customer %, SKU level repurchase rates, and average days between orders information for all SKUs.
The data in the following visualizations is filtered to only show SKUs that are in the top X of SKUs sold as well as other filters to control how much data is shown:
Repurchase Rate of Same SKU and Avg Days Between Purchase by SKU: Filtered to show SKUs in the top 10 of all SKUs sold
Days Between Any Order and Days Between 1st and 2nd Purchase of Same SKU: Filtered to show SKUs that are in the top 5 of all SKUs sold in the last 30 days
SKU Details: Filtered to show SKUs that have at least one repurchase
HOW TO USE THIS DASHBOARD EFFECTIVELY:
The combined knowledge of which SKUs are repurchased more often as well as how long customers take between those repurchases is very powerful for your retention campaigns. This information allows you to better determine when to send an email / SMS or retarget an existing customer through another marketing vendor, as well as which products to show them. For merchants that do not have a subscription program it can also help determine if a subscription program would be well received, which products to offer on a subscription basis, and what shipment frequencies should be offered.
This dashboard requires that merchants have a Shopify integration.
Number of Unique SKUs Sold
Avg Days Between 1st and 2nd Order Same SKU
Avg Days Between Purchase of Same SKU
Repurchase Rate of Same SKU and Avg Days Between Purchase by SKU
Days Between Any Order and Days Between 1st and 2nd Purchase of Same SKU