{"id":411,"date":"2023-10-30T17:36:32","date_gmt":"2023-10-30T17:36:32","guid":{"rendered":"https:\/\/gripsintelligence.com\/knowledge-base\/?post_type=ht_kb&#038;p=411"},"modified":"2023-12-14T18:04:05","modified_gmt":"2023-12-14T18:04:05","slug":"ecommerce-benchmarking","status":"publish","type":"ht_kb","link":"https:\/\/gripsintelligence.com\/knowledge-base\/ecommerce-benchmarking","title":{"rendered":"Free e-commerce Benchmarking Tool"},"content":{"rendered":"<p><b>What is the Grips e-commerce Benchmarking Tool?<\/b><\/p>\n<p><span style=\"font-weight: 300;\">Grips e-commerce Benchmarking is the health check for your online store which helps you to diagnose the state of your store\u2019s sales performance and see where to improve. It provides the essential e-commerce benchmarks, including revenue, AOV, and conversion rates. With this information, you can take strategic actions towards sustainable growth with real-time visibility into the performance of your peers.\u00a0<\/span><\/p>\n<p>Here is a quick video introduction:<\/p>\n<p><iframe loading=\"lazy\" title=\"Grips - Introducing E-commerce Benchmarking\" width=\"643\" height=\"362\" src=\"https:\/\/www.youtube.com\/embed\/J1bGKiCigyc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<p><strong>How does it work?<\/strong><\/p>\n<p>Grip&#8217;s e-commerce Benchmarking Tool is totally free to use. These are the steps you take to get started:<\/p>\n<ol>\n<li><span style=\"font-weight: 400;\">Select peer companies: Define the exact e-commerce stores you want to compare. Grips covers &gt;40k e-commerce stores, so you can find the more relevant stores to compare yourself against.\u00a0\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Connect your store: Connect your Google Analytics account (both GA4 and any accounts still using UA are still accepted as well).\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Start benchmarking: See your store&#8217;s performance against your peers.\u00a0<\/span><\/li>\n<\/ol>\n<p>Once you&#8217;ve connected your store, you will see your store&#8217;s data against the competitors you selected. In this top part of the app, you can see the exact competitors you selected, the exact Google Analytics property you selected, and the most important KPIs<\/p>\n<p>For each KPI card, we are showing your performance, and then the metrics for the highest, lowest and median competitor to give more context to the performance of your store.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-415 size-full\" src=\"https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-37-06.jpg\" alt=\"\" width=\"973\" height=\"581\" srcset=\"https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-37-06.jpg 973w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-37-06-300x179.jpg 300w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-37-06-768x459.jpg 768w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-37-06-50x30.jpg 50w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-37-06-60x36.jpg 60w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-37-06-100x60.jpg 100w\" sizes=\"(max-width: 973px) 100vw, 973px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Next you can see several time series charts, which at exactly which moments your performance differed from your competitors. You are able to select any of the metrics on this chart. To make the comparison easier and to make the trends more recognizable, the app scales the values 0-100.<\/p>\n<p>It is possible to see data with daily granularity that is updated daily as well as historical performance going back 1 year.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-416 size-full\" src=\"https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-42-59.jpg\" alt=\"\" width=\"1105\" height=\"379\" srcset=\"https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-42-59.jpg 1105w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-42-59-300x103.jpg 300w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-42-59-1024x351.jpg 1024w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-42-59-768x263.jpg 768w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-42-59-50x17.jpg 50w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-42-59-60x21.jpg 60w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/Xnip2023-10-10_10-42-59-100x34.jpg 100w\" sizes=\"(max-width: 1105px) 100vw, 1105px\" \/><\/p>\n<p>Additionally, on our Competitor matrix you can compare two metrics at once and understand how you compare to your competitors and quickly identify who are the top performers who you should emulate and\u00a0 who you are already beating.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-421 size-full\" src=\"https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/benchmarking-screenshot.png\" alt=\"\" width=\"1086\" height=\"611\" srcset=\"https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/benchmarking-screenshot.png 1086w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/benchmarking-screenshot-300x169.png 300w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/benchmarking-screenshot-1024x576.png 1024w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/benchmarking-screenshot-768x432.png 768w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/benchmarking-screenshot-50x28.png 50w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/benchmarking-screenshot-60x34.png 60w, https:\/\/gripsintelligence.com\/knowledge-base\/wp-content\/uploads\/2023\/10\/benchmarking-screenshot-100x56.png 100w\" sizes=\"(max-width: 1086px) 100vw, 1086px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><strong>What metrics do you have?<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: Revenue for the domain from online sales (in USD) for the selected period\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Transactions: Number of transactions for the domain for the selected period<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sessions: Number of visits for the domain for the selected period<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Conversion rate: Number of sessions divided by transactions<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">AOV: Average order value\u00a0<\/span><\/li>\n<\/ul>\n<p><strong>How is this tool different from all other Benchmarking tools?<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Grips e-commerce Benchmarking gives you a quick overview of the e-commerce metrics of your industry. These include Revenue, Average Order Value, and Conversion Rates \u2013 metrics you won\u2019t get anywhere else. It will only take a few minutes to learn where you are doing good and where you need to take action as we put your data next to aggregated data of your competition.\u00a0<\/span><\/p>\n<p><strong>Are the metrics calculated the same as in my Google Analytics account?<\/strong><\/p>\n<p>The metrics we are reporting are calculated in the same as the values in your Google Analytics account to make the comparisons accurate. With that in mind, the revenue metrics you see are excluding returns, subscriptions and any app sales. Read more in our <a href=\"https:\/\/gripsintelligence.com\/knowledge-base\/faq\">knowledge base<\/a>.<\/p>\n<p><strong>Do you have app data?<\/strong><br \/>\nNo<\/p>\n<p><strong>How often is your data updated?<\/strong><\/p>\n<p>For many of the retailers used in the benchmarks the data is updated daily or weekly, so a small subset the data is updated monthly.<\/p>\n<p><strong>How do you define a conversion and conversion rate?<\/strong><\/p>\n<p>A conversion is a purchase made on a retailers site, and conversion rate uses those purchases divided by sessions.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the Grips e-commerce Benchmarking Tool? Grips e-commerce Benchmarking is the health check for your online store which helps you to diagnose the state of your store\u2019s sales performance and see where to improve. It provides the essential e-commerce benchmarks, including revenue, AOV, and conversion rates. With this information,&#8230;<\/p>\n","protected":false},"author":2,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":[],"ht-kb-category":[4],"ht-kb-tag":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Free e-commerce Benchmarking Tool - Grips<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gripsintelligence.com\/knowledge-base\/ecommerce-benchmarking\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Free e-commerce Benchmarking Tool - Grips\" \/>\n<meta property=\"og:description\" content=\"What is the Grips e-commerce Benchmarking Tool? 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