How do I identify products that receive high views but low conversions?

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Cross-reference two reports. In Traffic reports, the Product section shows how many times each product was viewed. In Sales reports, Sales by Product shows how many times it actually sold. A product with high views in Traffic but low sales in Sales by Product is a high-view, low-conversion product. From there you can act on the page itself, add reviews, improve images, strengthen the description, or offer a spot coupon.