Total Sales

Overview

Total sales is the total revenue from product sales after deducting all costs (including cost of goods, shipping costs, payment gateway costs, handling fees, and taxes).

πŸ“˜

Total Sales = Order Revenue - (Refund Money - Refunded Tax)

The calculation is based on data in the Blended Stats table.

Detailed breakdown

The formula above is derived from the following components:

Order Revenue = SUM(order_revenue) --> Orders table
Refund Money = ABS(SUM(total_refunded_price)) --> Refunds table
Refunded Tax = ABS(SUM(total_refunded_tax)) --> Refunds table

Insights and Actions

Total Sales is a critical metric for understanding the net revenue generated from your business's operations, taking into account all relevant costs and deductions. Efficiently leveraging Total Sales data can guide strategic business decisions:

  • Assess Financial Health: Use Total Sales to gauge the overall financial performance of your business. This metric provides a clear view of the revenue generated after accounting for all associated costs and refunds, helping to understand the business's profitability.
  • Identify Cost Reduction Opportunities: Analyze components of the total sales calculation to identify areas where costs can be reduced. For instance, reviewing refund rates and associated costs may reveal opportunities for product improvements or enhanced customer service strategies to reduce returns.
  • Optimize Pricing Strategy: Evaluate how changes in pricing impact total sales and profitability. Use this insight to adjust pricing strategies to maximize revenue without deterring customers.
  • Enhance Sales Tactics: Analyze trends and patterns in total sales over time to inform sales strategies and marketing campaigns. Understanding peak sales periods or particularly successful promotions can help in planning future sales initiatives more effectively.
  • Improve Inventory Management: Use total sales data to manage inventory levels more efficiently, ensuring that stock levels align with sales trends to meet customer demand without overstocking.

Example Use

Prompt

What are my total sales for April?

Response

Query

SELECT
  sum(total_sales) total_sales,
FROM
  prepared_blended_stats_table
WHERE
  event_date BETWEEN '2024-04-01' AND '2024-04-30'