The Retail Analytics Discount Analysis dashboard allows you to analyze your data around the discounts you offer.
You can customize your discount discovery journey by choosing the discount period window, order channel (Delivery, Express, In-Store, Pick-Up), or discount category (read more here).
At the top of every dashboard in Retail Analytics you will find the Control Panel, which contains common controls for the entire dashboard. For Discount Analysis, you can specify:
Date Range: Select the start and end dates for the analysis.
Stores: Filter the data by one or more stores.
Discount Methods: Select the discount methods to be analyzed.
Discount Types: Filter by discount types (e.g., percentage off, dollar off).
Order Channel: Analyze discounts for specific order channels - In
The first 6 horizontal bar graphs represent your Discount Leaderboard and provide summaries on your best performing discounts.
Discount Leaderboard
The Discount Leaderboard can be used to see which discounts are leading to the desired outcomes for your dispensary.
Discounts By Popularity is your leaderboard for the most popular discounts based on the total number of discount redemptions, which is the unique # of tickets where the discount was applied.
Discounts by Average Order Value is your leaderboard for the discounts that drove the highest order values. It is important to understand the characteristics of the entired ticket where a discount was applied.
Discounts by Average Order Profit is your leaderboard for the discounts that drove the highest order profit. Average Order Profit based on the Gross Margin % and Average Order Values of the tickets containing a given discount.
Discounts by Discounted Product Gross Margin is your leaderboard for the discounts where the Gross Margin % of the discounted products is the highest.
Tip: If you have popular brand discounts where your Gross Margin is protected on the discounted products, that is a good discount to have.Discounts by Ticket Gross Margin is your leaderboard for the discounts where the Gross Margin % across the entire ticket is the highest.
Tip: These are the discounts that have the most room to sweeten the pot by increasing the value of the discount to attract new customersDiscounts by New Customer Retention Rate is your leaderboard for the discounts that your first time customers used, often times indicating that the discount brought them in the door. The Retention Rate is the Percentage of those Customers who returned to make another purchase at that store.
To further qualify the highest performing discounts, you can increase the minimum redemptions across the date range selected.
Discount Impact Analysis
The Discount Impact Analysis section is designed to allow you to compare one or more discounts, understand the associated ticket trends, and monitor the performance of the discount over time.
Start by selecting a discount from the leaderboards above, or search for a discount with the Discount Name filter.
When comparing discount performance, we recommend looking at the sales totals for the discounted items as well as sales totals for the entire ticket.
Example: A heavy discount may lead to low margins on the products being sold. However, if the discount influences the customer to purchase more products than they normally would have, the gross profit may be higher than it would have been without the discount.
For the selected discount, use the dynamic visual below the table to see the discount performance over time based on the selected View Metric.
The different View Performance By options allow you see performance over time across stores, compare to store averages over the same time period, or compare discount popularity by Order Channel.
To compare multiple discounts, use the Discount Name filter to select the desired discounts, then choose the View Performance By Discount Name option.
Product Discount Performance
The Product Discount Performance section allows you to understand which products are being sold as a part of a specific promotion, or which promotions are being applied to a set of products.
Selecting a discount in a previous step will yield the most popular products sold for the selected discount.
Alternatively, you can see the most popular discounts used for a set of products. Further, you can choose to View Products by Product Line as shown below.
Once you've gotten a list of products to analyze, you can scroll down to the Comparing Discount Performance for the Selected Products visual to look more broadly across all of the discounts applied to a given product and compare it to the non-Discounted performance. Products without a No Discount row were not sold at full price during the selected date range.
If you want to drill into a specific product's discount dependence over time, select a product from the table and scroll down to the Discounted vs. Non-Discounted Trends visual. Effective product discount strategies should lead to a lift in non-discounted sales over time.
