KPI definitions

Contribution Profit: The amount of earnings from your sales remaining after all direct costs have been subtracted from revenue.

​Formula: net revenue - gross cost of goods sold - refunds - ad spend

Contribution Margin: The percentage of your Net Product Revenue that is remaining after all direct costs and refunds have been accounted for.

​Formula: contribution profit/net revenue

Gross Revenue: The total value generated by the orders your customers placed. This accounts for any discounts they received, but does not account for refunds.

Net Revenue: The total value of the orders your customers placed, less tax. This accounts for any discounts the customer received, but does not account for refunds.

​Formula: gross revenue - tax

Refunded Revenue: The amount of revenue (including tax) refunded from orders placed within the selected date range. Note that these refunds are tied to the original order date rather than the date the refund was processed.

Refund %: The percentage of revenue refunded back to your customers.

​Formula: refunded revenue/gross revenue

Gross Profit Excluding Tax: The gross profit of your sales, excluding tax.

​Formula: (net revenue - gross cost of goods sold)/net revenue)

Gross Profit Margin %: The gross profit of your sales, excluding tax, expressed as a percentage.

​Formula: (net revenue - gross cost of goods sold)/net revenue

Units Sold: A count of how many items were included in all orders. This excludes zero value orders and exchange orders.

Units per Order: The average number of units in each order. Excludes zero value orders and exchange orders.

Formula: units sold/number of orders

Average Order Value (AOV): The average value of the orders placed in the selected date range. Excludes zero value orders and exchange orders.

​Formula: gross revenue/number of orders

Average Cost Price (ACP): The average cost of each of your products. Excludes zero value orders and exchange orders.

​Formula: gross cost of goods sold/units sold

Average Selling Price (ASP): The average revenue generated by each of your products. Excludes zero value orders and exchange orders.

​Formula: gross revenue/units sold

Discount %: The percentage of revenue lost to checkout discounts. This accounts for discounts applied at checkout only, e.g. a promo code. This does not include discounts as a result of marking items down.

​Formula: checkout discount amount/(gross revenue + checkout discount amount)

Gross Cost of Goods Sold: The total cost of good sold for the orders placed within the selected date range.

Ad Spend: The Facebook, Google, and TikTok Ads marketing spend. Some spend can be attributed to specific products. Ad spend is attributed to products using the destination URLs of your campaigns. Campaigns with destination URLs that are product pages get their ad spend attributed to the relevant product. For Google Shopping ads we also attribute product ad spend using the product ID pulled from the API.

ROAS: Return on Ad Spend, or the average amount of product revenue that gets generated per unit of product marketing spend.

​Formula: gross revenue/ad spend

Click-through-Rate: The proportion of ads that are clicked on after being shown to someone.

​Formula: clicks/impressions

Product Views: The number of times a product page was viewed on your website. Corresponds to screenPageViews in Google Analytics.

Product Conversion Rate: The proportion of product views that resulted in a transaction.

​Formula: unique transactions/product detail page views

Unique Customers: The number of unique customers who purchased a product. For example, if someone purchased three of the same product across two orders, this would appear as 3 units sold, 2 unique transactions, and 1 unique customer.

Note that Unique Customers may be less than the sum of New Customers and Existing Customers, particularly over a wider date range. This is because a single unique customer may be both new and existing within the same range.

For example, a new customer places an order with you. This contributes 1 towards the New Customer Count, and 1 towards the Unique Customer Count. The next day, they place another order. This second order contributes 1 towards the Existing Customer Count. When looking at this 2-day range, you will have 1 New Customer, 1 Existing Customer, and 1 Unique Customer.

New Customer Revenue %: The proportion of gross product revenue that came from customers who have never purchased with your store before.

​Formula: gross revenue from new customers/total gross revenue

Repeat Rate: The proportion of customers who have returned to your store within 12 months since being acquired via the product in question. A customer is considered as being acquired via a certain product if it was present in their first order.

​Formula: number of customers who have purchased again/number of customers acquired

LTV Gross Revenue: The average 12-month lifetime value of customers acquired via the product in question. A customer is considered as being acquired via a certain product if it was present in their first order.

​Formula: total revenue generated by the acquired customers within 12 months of acquisition/number of customers acquired

Closing Stock: The number of units in stock as of yesterday.

Sell Through Rate: The proportion of your stock that has been sold.
​Formula: units sold/(units sold + units remaining on hand)