Store Activity
Is the Store still adding products?
Activity comes from the launch date of the Store's newest product: the one date that only changes when the Store does something new.

Active
A new product within the last 30 days.
Slowing or Quiet
The newest product is 31 to 90 days old, or 91 to 180.
Dormant
No new product for more than 180 days.
Why not "last updated"
Shopify reports most Stores as updated today, whatever they did. A new product's launch date is what really moves.
More in Shopalyzer.
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