Product Performance
What is Product Performance?
Product Performance helps you understand how each product contributes to your business. It provides a clear view of your catalogue by highlighting products that are performing well, products with growth potential, and products that may require attention.
Rather than reviewing individual reports for every product, Product Performance organises your catalogue into easy-to-understand categories. This makes it simpler to identify where your strongest opportunities are and where improvements may be needed.
The goal of Product Performance is to help you make better decisions about your products by providing a quick and accessible overview of your catalogue's overall health.
Product Categories
Each product is automatically assigned to a category based on its overall performance. These categories are designed to help you quickly understand the role each product plays within your business.
Profit Star
Profit Stars are products that are performing exceptionally well. These products contribute strongly to your business and are often among your most valuable products. Products in this category are worth monitoring closely and may present opportunities for further growth.
Revenue Trap
Revenue Trap products generate strong sales activity but may benefit from further review. While these products contribute to overall revenue, there may be opportunities to improve their overall business impact. Understanding the role these products play can help support more informed business decisions.
Margin Bleeder
Margin Bleeder products may require additional attention. These products are often active contributors to the catalogue but may have factors affecting their overall performance. Reviewing these products can help uncover opportunities for optimisation and improvement.
Hidden Gem
Hidden Gems are products that show strong potential but may not yet be receiving significant attention. These products can represent valuable growth opportunities and may benefit from increased visibility or promotion.
Underperformer
Underperformers are products that are currently contributing less than expected. While they remain active within the catalogue, they may benefit from further analysis to determine whether improvements can be made.
Dead Weight
Dead Weight products currently contribute limited value compared to the rest of the catalogue. These products may present opportunities for review, consolidation, or strategic changes.
Dashboard Features
The Product Performance dashboard provides several tools to help you explore and understand your product catalogue.
Summary Cards: Summary cards provide a quick snapshot of how products are distributed across different categories. This allows you to quickly understand the overall makeup of your catalogue without needing to review individual products.
Product Distribution: The Product Distribution chart offers a visual breakdown of products across categories, making it easy to identify patterns and trends within your catalogue.
Gross Profit by Category: This view helps you compare how different groups of products contribute to overall business performance. It provides a simple way to understand where value is concentrated across your catalogue.
Revenue × Margin × Volume: This bubble chart helps you understand the relationship between revenue, gross margin, and sales volume across your products. Gross Revenue is shown on the horizontal axis, Gross Margin on the vertical axis, and bubble size represents units sold. This makes it easier to identify products that generate strong revenue, maintain healthy margins, and perform well at scale.
Volume vs Profit: This scatter plot compares units sold against gross profit for individual products. It helps you identify which products are contributing the most profit relative to their sales volume and highlights products that may be selling well but generating limited profit.
Hide Outliers: Hide Outliers allows extreme values to be temporarily excluded from visualisations. This can make charts easier to interpret by reducing the impact of unusually large or small products on the overall view.
Product Table: The Product Table provides a detailed view of individual products and their associated metrics. You can use the table to review products, compare performance, search for specific items, and apply filters to focus on the information most relevant to you.
Export Functionality: Export product data for further analysis, reporting, or collaboration. Tables can be downloaded in both Excel (.xlsx) and CSV (.csv) formats, making it easy to work with the data outside Bloom.
Performance Settings
Product Performance classifications can be customised using Performance Settings, allowing you to define the thresholds Bloom uses to categorise products.
Sales Threshold: Defines the sales benchmark used to evaluate product demand. You can choose a historical metric, such as the 90-day daily average per product, to determine what qualifies as strong sales.
Healthy Margin Threshold: Sets the minimum gross margin required for a product to be considered healthy and profitable. Your recent average margin is also displayed to help guide threshold selection.
Refund Rate Limit: Defines the maximum acceptable refund rate. Products exceeding this threshold may be classified as Margin Bleeders.
Discount Limit: Defines the maximum discount percentage before a product is flagged for excessive discounting, which may impact profitability.
By adjusting these settings, you can tailor Product Performance classifications to better reflect your business goals.
Insights
Product Performance includes Intel, designed to help you identify opportunities and areas that may require attention.
These insights are prioritised based on their potential impact, helping you focus on the most important actions first.
Critical
Highlights products or trends that may require immediate attention.
High
Identifies meaningful opportunities or risks that are worth reviewing soon.
Low
Provides additional observations and optimisation opportunities that may help improve performance over time.
Using Product Performance
Product Performance is designed to help you make faster and more informed product decisions.
You can use it to identify your strongest products, uncover hidden opportunities, monitor overall catalogue health, and understand where additional attention may be needed.
By reviewing Product Performance regularly, you can stay informed about changes across your catalogue and make decisions with greater confidence.
Last updated