Retail Store Sales Analysis

Project Objective

To develop a comprehensive sales report for the year 2023 that provides valuable insights into customer behavior and sales trends. This report aims to equip the store owner with the necessary data to understand their customer base better and to formulate strategies to maximize sales in 2024.

Dashboard

🛠️Software Toolkits:

🔍Problem Statement📝

1. Identify the primary sales channels contributing the most revenue.
2. Determine the top-performing state in terms of sales.
3. Analyze which garment sizes are driving the highest sales.
4. Identify sizes with low demand or poor sales performance.
5. Compare purchasing patterns between male and female customers.
6. Determine the categories that have achieved the highest sales volumes.
7. Evaluate and contrast various order statuses to understand their impact on sales.

📈Analysis Report🧐

1. Top Sales Channels:
The top three channels in terms of sales in 2023 were:-

  • Amazon - (₹7.52M/35.51%)🥇
  • Myntra - (₹4.94M/23.34%)🥈
  • Flipkart - (₹4.57M/21.60%)🥉

2. Top Sales States:
The top three states in terms of sales in 2023 were:-

  • Maharashtra - (₹2.99M/14.12%)
  • Karnataka - (₹2.65M/12.49%)
  • Uttar Pradesh - (₹2.10M/9.93%)
  • Telangana - (₹1.71M/8.08%)
  • Tamil Nadu - (₹1.68M/7.92%)

3. Size Contribution:
These sizes made the highest contribution (Approx - 98%):

  • M - 17.66%
  • L - 16.56%
  • XL - 14.29%
  • S - 13.45%
  • XXL - 13.09%
  • 3XL - 10.78%
  • XS - 8.06%
  • Free - 4.53%

4. Non-Demanding Sizes:

  • 4XL - 0.36%
  • 5XL - 0.51%
  • 6XL - 0.66%

5. Top Selling categories:
These categories are the primary contributors to maximize sales.

  • Set - 39.91%
  • Kurta - 33.64%
  • Western - 13.09%
  • Top - 7.06%

6. Gender-based Purchases: 👩‍🦰 > 👨

• Women - 69.42%
• Men - 30.58%

7. Order Status:

  • Delivered - 92.25%
  • Replaced - 3.36%
  • Cancelled - 2.71%
  • Refunded - 1.66%

Conclusion📌

1. Minimize Product Replacements:
Implement strategies to reduce product replacements and returns to improve customer satisfaction and operational efficiency.

2. Prominent Advertising and Promotions:
Ensure that advertisements, offers, and coupons are prominently displayed on key e-commerce platforms such as Amazon, Myntra, and Flipkart.

3. Highlight High-Selling Categories:
Focus on promoting and highlighting the product categories that achieved the highest sales in 2023 to leverage their popularity and boost future sales.

4. Expand Sales Channels:
Develop and implement strategies to increase sales across additional channels to diversify revenue streams and enhance market reach.

Connect with me:

📂 Visit this Repo:
Retail Store Sales Analysis

✉ Reach me:
jharajnish@outlook.in