Understand how your products are performing at a glance with Product Grading.
Grading your products is a way for you to understand which products contribute the most to your sales revenue. At Genie, we want to streamline analysis by making it as easy as possible to identify patterns and statuses of your products.
This is why we implemented Grading.
Grading System
Our grading system is a simple, intuitive way to understand the performance of your products. We assign a grade of A, B, or C to each product depending on the scale and parameters you set within your Insight Settings.
A-Grade: These products represent the top 80% of your sales. They sell really well, so they're considered your most successful products.
B-Grade: These products sell less frequently than A-grade products, but they still contribute decently to your overall sales.
C-Grade: These products sell the least frequently or not at all.
This system helps you understand at a glance which products are doing well, which are doing okay, and which might need a little more attention.
Configuring Your Grading
Now that you understand what product grading is, let's get it set up so you can identify your top performers.
Step 1: Navigate to the Insight Settings tab under the settings on the left menu and scroll down to Grading. Here you will see 4 settings you can manipulate.
Calculation Period
Grade By
and the Scale
Step 2: Adjust your Calculation Period and Grade By to reflect the date range and metrics most important to you. We recommend starting at 30 days for the calculation period and setting the grade by to sales revenue.
This will calculate your grading based on how much revenue a given product has generated over the last 30 days. But if your goals aren't revenue-based you can always change it to reflect profits or quantities sold.
Step 4: Adjust the grading Scale for Grade A and Grade C products by clicking the + and - until it is where you like it. Whatever percentage is left will be designated as Grade B.
We recommend you start with the following:
Grade A = 80%
Grade B = 15%
Grade C = 5%
This is a good starting point and should give you a good idea of what products are performing the best and which ones may need to be pulled.
Any adjustments made to the grading will not be applied until the next day.
Step 5: After waiting a day for it to update you can navigate to your Inventory Table. You will see that all your products will now be associated with a grade. Feel free to experiment and adjust the grading to your liking.
That concludes our product grading walkthrough. We hope the context that product grading provides gives you a better understanding of how your products are performing.
Please don't hesitate to reach out for any additional help. Happy analyzing!