Shopify has rolled out new reporting tools designed to provide merchants with deeper insights into the profitability of their cross-border sales. These additions aim to empower businesses to better understand and optimize their international revenue streams.
Key Takeaways
- Introduction of two new reports: "Average profit margin by market" and "Profit margin by order."
- Enhanced ability to track profitability across different international markets.
- Detailed view of costs associated with international orders, including customer-paid shipping and fulfillment expenses.
- Drill-down functionality for granular analysis of individual order profitability.
Understanding Cross-Border Profitability
The "Average profit margin by market" report offers a clear overview of earnings per market. It breaks down the costs customers incur for their orders, alongside any additional expenses incurred by the merchant for fulfillment. This allows businesses to quickly assess which international markets are most lucrative.
Deeper Dive into Order-Level Profits
For merchants seeking a more granular perspective, the "Average profit margin by market" report allows users to click on a specific market. This action navigates them to the "Profit margin by order" report. This secondary report provides the same profitability metrics but on an individual order basis, offering a detailed understanding of the financial performance of each transaction.
Accessing the New Reports
These new reporting features are readily accessible within the Shopify admin interface. Merchants can find them by navigating to Analytics, then selecting Reporting. From there, they can search for "Average profit margin by market" to begin utilizing these powerful new tools for optimizing their global sales strategies.
