Flutterwave Unveils Store Analytics For Merchants to Enhance Their Business
Nigerian Fintech startup Flutterwave has launched a new feature called “Store Analytics”, that enables merchants on its platform to boost their business.
Store Analytics is a dashboard feature that provides merchants with comprehensive insights into customers’ purchasing habits. It enables merchants to track a customer’s entire journey, from their initial store visit to the moment they complete a purchase.
The launch of the feature is coming after many of Flutterwave’s Store users asked about the possibility of getting access to basic business data from their dashboards.
One remarkable thing about the store analytics is that it is continuously updated in real-time as customers visit and make transactions on the Flutterwave Store, reflecting changes instantly with each new visitor and purchase.
Also, merchants can filter their store analytics to display customer insights for a certain period. This allows them to have an overview and in-depth view of their store’s performance and customer interactions with the store and products.
Check Out What Merchants Can Use Each of The Flutterwave Store Analytics features for;
When merchants want to view their Store stats and compare trends, numbers and make decisions, here are the categories they should look out for:
- Top Customer
The top customers that purchased the highest amount of products. In other words, these are star customers! When looking for specific customers to gift loyalty rewards, discounts, and such, these are the ones Merchants should go to first.
- Top Performing Products
These are the products that customers interact with the most and the products that tend to get purchased the most often. Merchants can push these products more when they are looking to make extra sales.
- Sessions and Conversions
The sessions refer to a few things: the products that have been viewed, added to the cart, and abandoned at checkout. On the other hand, conversions refer to how many products that are viewed and added to the cart reach the checkout stage. Merchants can use this feature to research with their customers why certain products are most often viewed but not purchased.
- Orders Processed
This is the next stage after checkout; the number of orders that are completed and paid for. With this, Merchants can also have a view of how many products are typically bought.
- Gross Sales
This is for all sales (calculated by the total sales price of products multiplied by the quantity ordered) including refunds, coupons, and discounts.
- Net Sales
The net sales count all the gross sales value minus refunds, coupons, and discounts.
Additionally, Store owners can view all these statistics for different durations between 1-30 days. So, they can choose how often to view their store’s analytics and analyze its performance.
Notably, Store Analytics are useful for managing all the business data and keeping it in one place, so that it is easily accessible for to assess periodically.
It is understood that being able to continuously monitor a business’s performance is the first step to making calculated decisions that will improve the business.
By seeing customers’ trends and behaviors, Flutterwave merchants can tailor their business offerings and decisions to suit their needs, thus improving their customer service and satisfaction.
