Enhanced Magento product reporting
Having access to enhanced Magento reporting means you can better manage your inventory as you have complete transparency on how your stock is performing. Unfortunately Magento’s native reports are very limited and offer little insight into what is happening.
Retailer’s looking for a solution would benefit from using Moco Insight, an advanced Magento product reporting platform that includes sell through, stock turn, best sellers by product/brand/category etc. Our reports are only limited by the data our Magento clients have in their site’s backend.
Improved merchandise planning
Knowing how much of your stock has sold and which stock is selling the best is key when managing your inventory. It is impossible to know by looking at the volume sold alone. So to help out we have added columns that tell you:
- Sell thru
- Stock turn
- Stock average
- % of total revenue sold
- Historical % of total revenue sold
- % of total volume sold
These columns can be used to report against brands, your simple products, manufacturers, categories etc. Spend some time and find out your best sellers beyond product name.
How come you get this in Moco but not Magento? Magento doesn’t keep track of your stock levels over time. Each time you update your stock in Magento it overrides your previous stock level and doesn’t keep a record of it.
Moco keeps track of all your stock level changes you made. This is great news for Moco clients who have been with us for years as we have kept track so you can get historical reporting on these columns. So next time you are looking to purchase stock you can look at the sell thru % and stock turn to see how much you should order. GMROI will also tell you which stock was most profitable so you can look to order more and/or change the focus of your marketing.
Here is an example fashion report:
From this report can see Lions has sold out of the most of it’s stock. It has 34 items left and makes up 4.98% of the total revenue sold. The retailer can now decide based on the season whether to reorder this product as they might run out.
If the sell through was 2.0% then the retailer could decide if they start discounting and whether to change the marketing.
Knowing how much the sale of a stock is tracking in terms of % of sale for revenue and volume sold give a fashion retailer transparency of how stock is contributing to their bottom line. Having historical data gives them an opportunity to compare and work out its performance over time.
The above columns shows the stock is performing worse this year so the retailer may want consider whether they order more stock and/or increase the marketing around it.
The stock turn of 4.0 (low numbers point to overstocking) also shows performance isn’t great. Especially when compared to 20.1 above.
The GMROI (measures the retailer’s ability to turn stock into cash above the cost of the inventory) shows it is on the lower end at 274.0. The figure of 864.90 above highlights this product creates the greatest profit for this retailer.
But wait, there’s even more product columns!
We have added other product columns to gives our clients in-depth insight into their stock. So much Magento product reporting in one place! The new columns are:
- Opening stock on hand
- Closing stock on hand
- Max # stock on hand
- Sold YTD [# & $]
- Sold YTD (last year) [# & $]
- Sold a year ago[# & $] – defined by the purchased date you put in
- Sold monthly average [$]
- Sold weekly average [$]
- Abandoned cart [# & $] – defined by the purchased date you put in
- % of profit [$]
- % of profit [%]
As you can see this new release is packed full of enhanced Magento product reporting. We could go on and on about how you can use this enhanced Magento product reporting as we’re so excited. Relax we won’t. Our advice is jump into your account or create an account and see for yourself what you can learn about your stock.
If you have any questions on the new columns email mailto:email@example.com and someone will come to you.
Happy Magento reporting!!!!