Competition… you know it’s there, but do you know how you compare?
StoreGrader is a new free app by Conversio that analyzes your performance metrics and ranks you among stores in the same industry as your own. In this edition of Dig the Data, we take a closer look at some of the data for the industries in StoreGrader.
(The visualization is also available in a standalone version.)
The visualization uses order data from stores connected directly to StoreGrader as well as data from Conversio. The industry category is self-reported and chosen from a list of pre-defined industry categories. The data is from July 2017. Some stores are excluded if they do not have data both at the beginning and end of the month.
Notice that order-based data like this often has many outliers. These are stores that perform particularly well or particularly poor. This is why there are no averages in the visualization. The average is very sensitive to the outliers, so we show only the total and the median. The median is the “midpoint of the data”, so it kind of represents the value of a typical store in the industry.
The first thing you notice is probably the Fashion & Apparel industry. It is the largest category in terms of both store count and total revenue. It also has the second-highest total number of orders after the Jewelry & Accessories industry.
However, look at the “Median” and the results are quite different. For example, stores in the Furniture and Automotive industries are the winners when it comes to revenue. On the other hand, Wedding & Bridal shops take the lead for number of orders, and Furniture has the lowest number of orders. It makes sense: furniture is expensive and not bought very often 🙂
The line graph reveals some interesting facts as well. Some industries have very stable revenue streams, like Health & Beauty, while others show more volatile and changing trends, like Travel & Experiences.
There are many more interesting facts to uncover. For even more enlightenment, we encourage you to try out StoreGrader for your own store.