Product Analytics

What is Product Analytics?

Product analytics in eCommerce involves tracking and analyzing data on how shoppers interact with your products, from clicks and views to conversions and returns. By using eCommerce analytics and product performance tracking, retailers can uncover insights that drive smarter merchandising, pricing, and marketing decisions.

Which Metrics Matter for Product Performance?

Key product performance metrics include:

• Conversion rate: How many visitors buy after viewing a product.
• Click-through rate (CTR): How often shoppers click product listings.
• Bounce rate: How quickly visitors leave product pages.
• Return rate: How often items are sent back post-purchase.
• Revenue per product: How much each SKU contributes to total sales.
  
  

How to Analyze Product Performance in eCommerce:

• Use data insights from analytics tools like Google Analytics, Shopify Analytics, or PIM dashboards.
• Track performance across channels to identify best-selling items and underperforming SKUs.
• Leverage AI product analytics tools to forecast demand and optimize product assortments.
• Monitor engagement data to refine product descriptions, images, and pricing strategies.
  
  

Benefits of Product Analytics for Retailers:

• Improves decision-making with actionable data insights.
• Optimizes catalog performance by identifying what drives conversions.
• Enhances product discovery through informed SEO and merchandising updates.
• Increases profitability by focusing on top-performing products.
  
  

Why It Matters? 

Effective product analytics empowers retailers to understand what resonates with shoppers and make data-driven decisions that enhance sales, inventory management, and customer experience.

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