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9/20/2022
 

Evaluation and statistics

9/20/2022

Sales statistics – key figures you should use

Statistics and evaluations of entrepreneurial data offer the possibility to present facts clearly. This ranges from the costs for calculation and cost accounting to decisions in production or development of new projects to the rate of how many customers pay at what time or how much turnover is achieved on average with a sale. Financing, purchasing, customer base, personnel or resource planning are important areas for every company. Statistics provide important data for these areas, but you have to decide for yourself how and which options of statistics you use for your company. In this blog article, we would like to focus especially on the topic of sales statistics.

Sales statistics are an important tool for companies in all industries. They are used to record and understand the company's sales as well as the resulting breakdowns for different areas. For example, have you always wanted to know on which days and at which times you generate the most sales? How much your customers buy and when - or where your customers are from or what distance they have traveled to shop with you? With sales statistics you can draw valuable conclusions and optimize your products, sales targets, and ultimately your sales.

Sales statistics are recommended for all businesses - even small and medium-sized entrepreneurs benefit from the information they receive. Not only do statistics reflect your sales and success, but you'll find that you can make important decisions more easily with this knowledge in mind. With the help of sales data, you can determine at a glance what your sales are actually made up of.

The most important questions you should ask yourself are:

  • Which products or services sell best?
  • Which product groups should you focus on?
  • Which offers are particularly well received and which are less profitable?
  • Can opening hours be optimized?
  • Which customers buy which products most frequently?

You can find clear answers to all these interesting questions with the help of statistics.

The margin
The profitability or margin should not be ignored in connection with the analysis of your sales, because it tells you whether a certain product is profitable for you. An increase in sales of a product that hardly generates any profit is not necessarily advantageous - unless you want to strategically achieve something specific with a low price. If a product, payment method, specific service or time of day shows a significant increase, there may be a trend developing here that you can leverage for your business. As you can see, it is always worthwhile to look at contexts and call up individual details.

The margin is therefore the profit margin that results when you deduct all costs from the sales price of your products or services. The higher the margin, the higher the profit and the market position.

The bestseller analysis
This is where you look at the turnovers for individual products and services. In this way, you know what you should always have in stock, or in which areas you could expand and extend your offering. Use these findings for communication and targeted marketing measures to your customers and prospects.

Cancellations and returns
This metric can help you to identify, understand, and ultimately minimize reasons for purchase cancellations. Are certain products prone to damage? Is it possible that the same products are always being returned, or is the order being cancelled in advance? Find it out.

The regular customers
Observe which customers buy from you again and again. This will help you to tailor your products, assortment, and marketing efforts to the needs of your most important customers. Always have popular goods in stock and reward your customers' loyalty. As a myWorld Partner, you reward your customers with Cashback and Shopping Points for every purchase.

But statistics not only make it easier to make decisions, they also help you to identify problems, because they systematically show how effective individual areas in your company are or how much revenue individual areas generate. For marketing, too, sales statistics specifically show which products need a sales increase, which products sell particularly well at what times and which target groups generate the most sales.

With the right tool, such as the myWorld Premium Partner Program and the included free statistics module, you can evaluate your sales quickly and easily. The sales are automatically recorded and clearly displayed so that you can evaluate your sales by days, weeks, and months. To take a detailed look at your sales performance, you can also more closely inspect and analyze other parameters.

Tip: As a myWorld Premium Partner, use the free statistics module and always have an overview of your sales. With this practical tool, you can filter sales quickly and easily, and the results are clearly displayed in a bar chart. Scale the chart according to your needs. The representation as a bar chart makes sales peaks and troughs visible at a glance and makes it easy for you to analyze the data and apply it to your company's success.

To use statistics correctly in the long term, it is advisable to monitor data and key figures on a monthly or annual basis. This allows you to identify trends and draw the best conclusions that are relevant to your company's success. Observe where numbers are stagnant or declining and where sales have increased. This will put you on the best path to optimizing your sales and realizing your full business potential.

Sources:
Prof. Dr. K. Scharnbacher (2013), Betriebswirtschaftliche Statistik, Gabler Verlag
http://www.wirtschaftslexikon24.com, Vertriebs- und Umsatzstatistik, 2022

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