Product Deep Dive : Quadrant View
Steps to access Quadrant View
Analyze > Deep Dive > Product > Quadrant View
Quadrant View
Quadrant view maps out products based on two critical metrics: traffic (visitors) and gross merchandise value (GMV). By segregating products into four quadrants, you can decipher patterns and take decisive actions that drive growth and improve customer engagement.
Each quadrant showcases the dynamic between visitors and GMV.
Below is the break down:
- High Visibility : Low traffic, High GMV
These are the products that do well financially despite fewer visits. Tailor your strategies to maintain profitability. Consider targeted marketing to boost their visibility further.
- Low Visibility: Low traffic, Low GMV
These products may need reassessment. Try adjusting pricing strategies, enhancing product descriptions, or increasing marketing efforts to boost both traffic and sales.
- Hero Product: High traffic, High GMV
These are top performers generating both high traffic and revenue. Continue optimizing marketing to maintain their status, and explore opportunities for upselling or cross-selling.
- Non Performers: High traffic, Low GMV
These products drive traffic, but they fail to convert traffic into sales. Review user experience, product placement, and promotional tactics to enhance conversion rates.
Click on any quadrant to get a deeper insight. A list of relevant products along with key metrics will appear.
This list will help you understand which specific products are driving these trends, providing a clear path to address issues or scale.
Scatter Plot View
Each product is represented as a point within these four quadrants, offering a bird’s-eye view of product performance.
This overview helps in identifying outliers, understanding market positions, and planning strategic shifts based on real-time data.
Using the Quadrant View for Strategic Decisions
The Quadrant View empowers you to take a data-driven approach to inventory management and marketing strategies.
- Identify which products need attention and why.
- Develop targeted interventions for each product category.
- Optimize your product assortment strategy based on data-driven insights.
- Implement changes and track their impact using updated quadrant mapping.
Leveraging Quadrant View for Optimizing Product Assortment Strategy
The Quadrant View is an invaluable tool for optimizing your product assortment strategy. By analyzing which products are top performers, underperformers, or in between, you can make informed decisions about which products to promote, discontinue, or refine.
- Product Mix: Identify the right balance between best-selling products and niche items to ensure your product assortment meets market demand.
- Inventory Prioritization: Allocate more resources to Hero Products and high-GMV items to maximize profitability, while rethinking the position of Low Visibility products in your assortment.
- Category Expansion: If certain products in the High Visibility quadrant show potential, consider expanding similar categories to diversify your product range.
- Discontinuation Decisions: Use the insights from Non-Performers to make tough calls on products that aren’t converting, freeing up inventory space and marketing efforts for better-performing items.
Related article(s):
Product Deep Dive Overview
Product Performance