The product sales report tab in the monthly order report offers a friendly and detailed breakdown of sales, connecting each product with its corresponding order and distillery. This report is a valuable resource for understanding how each product is performing, keeping tabs on quantities sold, and spotting the top sellers. What’s great about this report is that it zeroes in on individual products, rather than just providing aggregated sales data or financial summaries, making it easier to get insights that matter!
Purpose of the product sales report
The Product sales report captures itemized data for all products sold in fulfilled orders during the reporting period. It allows distilleries to:
Evaluate individual product performance based on metrics like Manufacturer's Suggested Retail Price (MSRP) and quantity sold.
Reconcile orders with products sold for better inventory and financial management.
Identify trends across different SKUs and product categories.
Key metrics in the report
Order ID
Definition: A unique identifier linking the product to a specific order.
Use case: Provides a way to trace product sales back to their corresponding orders.
Distiller
Definition: The name of the distillery associated with the product.
Use case: Ensures the report is specific to your distillery, especially useful for managing products across multiple brands or stores.
Product SKU
Definition: The unique identifier for the product.
Use case: Facilitates tracking of individual products for inventory and reporting purposes.
Product title
Definition: The name of the product sold.
Use Case: Helps identify which products are contributing to sales and revenue.
Total MSRP
Definition: The retail price of the product, multiplied by the quantity sold.
Use case: Provides a measure of the product's gross revenue potential.
Quantity
Definition: The total number of units sold for the specific product.
Use case: Tracks the sales volume of each product.
Example walkthrough of the data
Illustrative row
Metric | Value |
Order ID | MASH-T74ASR1MVFUZ |
Distiller | mydistillery |
Product SKU | mydistillery-mybourbon |
Product title | My Great Bourbon |
Total MSRP | $79.99 |
Quantity | 1.00 |
Aggregated example
Metric | Value |
Total MSRP | $7,999.00 |
Total Quantity | 100 |
How to use the product sales report
Track product performance:
Use total MSRP and quantity to evaluate which products are generating the most revenue and driving sales.
Identify top sellers:
Sort by quantity or total MSRP to pinpoint your most popular products.
Reconcile inventory:
Match the quantity sold in the report to your inventory management system to ensure accurate stock levels.
Evaluate pricing strategies:
Compare the product SKU and total MSRP columns to assess the pricing effectiveness of different products.
Support marketing efforts:
Use the product title and sales data to refine marketing campaigns for high-performing products.
FAQs
How is total MSRP calculated?
It is the product of the Manufacturer's Suggested Retail Price (MSRP) and the quantity sold during the reporting period.
Can I track product-specific discounts in this report?
No, this report focuses on MSRP and quantity sold. Discounts are captured in other tabs, such as the orders report.
Why is the product SKU important?
The SKU ensures accurate tracking of specific products across orders and inventory.
The product sales report is a powerful tool for understanding how individual products are performing and optimizing your distillery's offerings. Use this tab in conjunction with the orders report to gain deeper insights into sales trends and inventory management.
For questions or assistance, contact [email protected].