Manage the product opportunities report
Overview
Identify top-performing products from the Product Opportunities report to boost sales and manage marketing efforts. The report displays the relationship between a product's views and sales if it has been viewed and sold at least twice in the last 30 days. Products are displayed at the parent product level where applicable.
To access the report, go to Reports > Hidden Gems.
Understand the report's data
Product opportunities have the following two key metrics:
- Visibility score – Product details page views, where 100% is the most viewed product. Products at 90% or higher are in the top 10% of viewed products.
- Sales score – Product purchases (in units), where 100% is the most purchased product. Products at 90% or higher are in the top 10% of purchased products.
An average or efficient product has similar scores across both metrics. Products with strong sales compared to visibility represent compelling opportunities and may benefit future promotions, changes in customer flow, or merchandising opportunities. Products with weak sales compared to visibility suggest inefficiencies that may need addressing.
Each product also has a Gem Rank, which is the rank of the product in the full product set when evaluating the difference between the sales score and visibility score. It can be calculated using the following formula:
Gem score = Sales score - Visibility score
The products with a Gem Score closest to 1 are Hidden Gems, which are compelling products that drive sales beyond what their views would suggest.
Explore the data
Refine and explore the product opportunities report in the following ways:
- Click product bubbles to filter the table.
- Select the Opportunity Levels – Hidden Gems, Marginal Gems, Average, Below Average, or Poor Performers.
- Sort and search the table's results.
Take action
After identifying opportunities, create a collection. You can use the collection to show the products to customers in any campaign using a dynamic grid. To save products to a collection
- Filter the table's results by clicking on the product bubble or selecting the opportunity level until the products are displayed.
- Click the Add icon to add your desired products.
- Click Edit & Save to view the final collection.
- If desired, change the product's display order and click Save.
Note
You can only use one collection at a time. Any changes to the collection impact the campaigns that use it as a point of reference.
When creating campaigns, to reference the collection in a touchpoint using a dynamic grid, select Collection > Opportunities as the Source.
Identify seasonal opportunities
Expand the timeframe selector to understand how products performed during a timeframe, like a specific campaign or a holiday season.
Trending Today is weighted and biased towards more recent purchases and viewing activities. Custom Range averages the purchase and view activity across the range with no weighting.