With the low levels of consumer trust right now, one metric you should be watching is your repeat purchase rate.
This is the time to focus on retaining as many customers as you can as you don't know if they'll ever come back otherwise.
You can start with a simple email campaign or get as complicated as a loyalty system with rewards and points and so on.
Just make sure you have something in place and that you're communicating with your customers often. And no, if you're only posting to social media that doesn't count (the majority of them won't see you at all).
Once you start working on retention, you'll want to verify that it's improving. Using Repeat Customer Insights to track that is the best option, you can go simple and track it for the year-to-date or drill-down into the order sequences, timing, and cohorts to see which types of customers are reordering.
Eric Davis
Segment your customers to find the diamonds in the rough
Not all customers are equal but it is difficult to dig through all of your data to find the best customers.
Repeat Customer Insights will automatically analyze your Shopify customers to find the best ones. With over 150 segments applied automatically, it gives your store the analytics power of the big stores but without requiring a data scientist on staff.