UPDATED: Product Analytics has been updated to another version, this time integrated with Google Analytics. Explore it in this article.
Before this function, you could see your metrics for the whole store using TrueProfit.
With Product Analytics function, now you can see the profitability insights of each product in your store: from revenue, net profit, profit margin to Facebook ad spend attributed to a particular product.
What can you learn from these insights?
- Which products are actually more profitable.
- Which products come with greater cost.
- Which products should be promoted more extensively.
- Which products are actually wasting money.
For example, item A seems to earn more revenue but also spends a lot on ads. Product Analytics can help you decide whether to keep scaling it up or focus on item B which has larger profit margin.
To use this function, first install TrueProfit from Shopify App Store.