Guide To Shipping Analytics: How To Make Informed Decisions About Logistics
Shipping analytics is an integral, but often an ignored form of reporting in any eCommerce business. Reasons for this are many. It could be due to the lack of proper shipping analytics software, incorrect reporting, etc. Nevertheless, the numbers that churn up are no less than gold for your eCommerce business. They give you detailed insights and guide you when making important decisions like choosing a courier partner, shipping a package on priority, etc.
Therefore, to simplify analytics for you, Shiprocket provides you with additional analytics that it draws from all your past shipments. Let’s see what you get and how it can be useful for your business.
Analysis Of Orders
Shiprocket deeply analyzes all your orders and then provides you with the most valuable and organized insights. These insights prompt you to study your trends carefully and then move on to making any crucial decisions. Here are all the reports you get in the ‘orders’ section of your dashboard:
Orders & Revenue
This graph gives you an understanding of the number of orders placed on a particular day and the revenue collected from them. With the help of a chart, you get to study a trend and analyze it to see if your products sold well or not. Alongside, if you compare this with the RTO orders, you can calculate the actual revenue of all your orders.
You can select a period for which you’d like to see the data and begin your analysis.
Channel Wise Split
This section gives you a clear distinction between the orders that came in from each channel. So if you sell on multiple channels like Shopify, Woocommerce, Amazon, Bigcommerce, etc. you can easily distinguish which channel made good sales and which did not. This data is more insightful as it signifies an end to end fulfillment success.
Prepaid vs COD Orders
This pie chart tells you about the payment method preferred by your customers. It states the comparison between COD and Prepaid orders and very quickly shows you which method is a better choice for your customers. This trend can change over time, and that gives you a heads up to tweak your payment policies. Also, if you see a continuing trend of COD payments, you could run offers to encourage your users to switch to the prepaid mode of payments.
Top Order Locations
This table gives a brilliant observation into where your products are doing well. The order count and the revenue give you a great indication. India is a diverse country, and one form of effort does not satisfy a broad market. Hence, once you know where your audience comes from, you can easily remarket your product to them to increase repeat purchases. Also, you can take this opportunity to improve your strategy and focus on targeting the cities that are not currently purchasing your product. If you have the budget, you can even run both initiatives together.
A Closer Look At Shipments
Manifest Pending Since
The manifest pending since graph displays the number of orders that are pending in the manifest stage since a definite number of days. Therefore, if you have 20 orders pending for the last 2 days, the graph will show 20 orders in a blue bar. Using this information, you can process orders much faster and avoid any delays that may happen due to negligence.
Pickup Pending Since
This graph gives you a record of the number of orders that are pending at the pickup stage. It tells you the number of days since the order has not been picked up. Through this report, you can keep a check on the processing of orders and stay in touch with your carrier to assign a pick up as soon as possible. You can eliminate any additional loss of time by reducing the number of days for which order remains pending. Ideally, your graph must decline when heading from 1 day to 5 days.
Average Processing Time
The average processing time is a metric to see how long the shipment spent at every step of the process. You also have an option to view a comparison between the combined result of all shipments being processed on Shiprocket and the shipments being processed by you. Therefore, you have an opportunity to improvise on your strategy and optimize the process to reduce the processing time of your shipments.
Average Pickup & Delivery Time
Often you face issues where you are sure that the courier partner is picking or delivering your orders late. But, by looking at this graph of the average pickup and delivery time, you can see the average for your pickup and delivery operations and also compare it with the total number of shipments processed on Shiprocket. This gives you an insight into your fulfillment process, and you can reduce this by choosing a different courier partner.
Average percentage of RTO orders
RTO orders are a critical part of any business. Hence, having data that shows you what percent of your orders are returned to origin, can help you decide a lot of things. For instance, you can choose the right courier partners for future shipments, determine whether the pin code you are shipping to is properly serviceable, etc. Also, you have the option to compare it with the performance of all sellers on Shiprocket. This data gives you an idea of your shipments and how you can improve it.
Insight Into Undelivered Orders
This graph shows you an idea of the NDR percentage every month. Here, NDR percentage stands for undelivered shipments concerning the total number of shipments. There could be certain months that have a considerable amount of sales but a high number of non-delivery as well. In such cases, having thorough analytics to support your decisions goes a long way! With the help of this information, you can work to identify the loopholes in your business strategy and help to improve your fulfillment with it.
The RTO Percentage graph gives you an insight into the RTO percentage. This number stands for the orders that came back to the location from where you ship them initially concerning the total number of shipments that were shipped. It tells you your performance month on month and enables you to decide what products are more appropriate for your business.
NDR To Delivery Percentage
An NDR to Delivery conversion chart can be helpful in plenty of different ways. First, you can analyze how many shipments made it to the buyer and how many that are returned to origin. This information, when correlated with other information like reattempt to delivery rate, can help with formulating a strategy to choose suitable courier partners for future shipments. You see your RTO and delivery difference and improve communication with the buyer for a better delivery flow.
Reasons for NDR
This quaint pie chart in your NDR reports in one of the most crucial ones from the lot. It gives you concrete answers as to why your shipments went undelivered. Many times we miss deliveries because the courier executive is unable to reach the buyer. With the reasons for NDR, you can make changes to your process to make sure you don’t lack anywhere, and RTO eventually reduced.
NDR Response by the buyer over IVR/SMS
This record gives you information about the buyer’s response when they receive an IVR and SMS in case of non-delivery. Through this information, you can correlate the reasons for RTO and make informed decisions when choosing your courier partner for future shipments.
NDR Response by Seller
As a seller, your business also depends on what action you decide for undelivered shipments. Many times you incur a higher loss while conducting an RTO, and a reattempt is a better option. So, this data can help you find the places where such situations occur, and you can focus on reducing them with future orders.
Re-attempt To Delivered Conversion
A reattempt to delivered conversion chart shows you a month on month comparison between what your buyer chooses on IVR/SMS and what you choose for undelivered shipments. It makes it clear what percentage of orders t were delivered. A detailed comparison like this tells you how your business is performing. A better conversion speaks of profits, and a trend can help you analyze how your business is growing.
Top 20 RTO Pin codes
Last, but not least, a list of the top RTO pin codes. With this list, you can strategize much better when shipping to these cities, choose suitable courier partners and don’t spend too much on shipping. This way, if your RTO rate doesn’t decrease, you won’t bear an additional loss. Furthermore, you can also experiment with a better courier partner to help reduce RTO in these areas.
Profound analytics form the basis of every successful business strategy. Always make it a point to be aware and study them properly before coming to any conclusion. Make informed choices for taking your business to the next level!