Sample Report 21. Age and Order Behavior Analysis in Power BI
The report analyses how customer behavior changes for different age groups. For more info about our products and services, please, refer here.
Embedded interactive report
Filters: order date, website, store, and customer group in Magento analytics.
KPIs: amount of customers without/with age data.
Chart with grand total by age shows what customers (by age) generate the most revenue.
Chart with customer age groups shows the amount of customers in each age group.
Bubble chart shows customer age groups placed on the chart by their ordering activity and average order value.
This chart assigns each age group to one of 4 classifiers:
Customer age groups with small amount of large orders;
Customer age groups with large amount of large orders;
Customer age groups with small amount of small orders;
Customer age groups with large amount of small orders.
In Magento reporting tools the table lists different age groups together with sales metrics for each age group.
How It Works?
It is said that as people grow older their expenditures become lower. With age buying behavior drastically changes. Elderly people generally prefer staying indoors, thus spending less money for fun, lifestyle, modern gadgets, etc.
Today stores consider people’s age as a very important factor while doing marketing analysis. Businessmen prefer to develop their marketing strategies on the grounds of the age factor. Magento advanced reporting is good for this task. It is considered that customer age can have a huge impact on forming their buying decisions.
In marketing there exist 6 main age groups:
18-24 - young segment of the customer market; mainly they buy things for their lifestyle and modern trends, thus this segment can be influenced by advertising for new and well known brands;
25-34 - mature segment; buy mostly household equipments and skincare products; pets and items for taking care of them are also the market for such a segment;
35-44 - people or mostly young couples; this audience likes traveling and different devices and things designed for making their traveling experience better;
45-54 - such targeting group of customers in your Magento bi store buys cosmetics, pills and various healthcarring devices letting alone products for their day to day needs;
55-64 - in this group customers’ buying behavior changes; the focus can be made on gardening facilities and cooking devices;
65 and older - this group of consumers buy only necessities and products for daily needs only.
Having these statistics analyzed carefully, you can have a full picture of your customers and try to influence their buying decisions.
Check out Top Products sample report and read about Power BI Integration with Magento platform to get more information on how this and other reports can help your business.