Shopify articles - Page 8

Summer of Metrics: The Combined View

Now that I've gone over a few core metrics for your store, let's put them all together. Alone they each have weaknesses or gaps but combined they can give you a clear picture. Combining Average Order Value with the Repeat Purchase Rate will tell you about how much each new...

Summer of Metrics: The Other Metrics

While Average Order Value, Repeat Purchase Rate, Average Customer Purchase Latency, and Average Lifetime Value are the important business metrics you should monitor, there are dozens more of varying usefulness. Three really big one you shouldn't ignore are: Order volume Revenue Profit Order volume will tell you how many orders...

Summer of Metrics: Average Lifetime Value

Lifetime Value, Customer Lifetime Value, and all of its ilk are often mixed up and misused. The two big problems comes from calculating it differently in different places or calculating it as an average of averages. Both lead to problems. The best way to think about Lifetime Value is the...

Summer of Metrics: Average Customer Purchase Latency

For a long time I wondered how to know when a customer is likely to buy again. Then I learned about Customer Purchase Latency which measures exactly that. Latency measures the time between events. It's used heavily in computer science and on the web for performance measurements (e.g. how long...

Summer of Metrics: Repeat Purchase Rate and Returning Customer Rate

Next I'm going to cover a pair of related metrics, Repeat Purchase Rate and Returning Customer Rate. Both measure how customers come back and buy but how they define "come back" is different. Returning Customer Rate looks to see if a customer has ever purchased in the past. That could...

Summer of Metrics: Average Order Value

To close out the summer, I'd like to go through the main ecommerce metrics and tie them together so you can be more strategic with your metrics. Presenting the: Summer of Metrics ...cheers, fanfare, silly colored smoke released... Let's kick it off with Average Order Value (AOV). Average Order Value...

Other stories your Winter Holiday dashboard might be telling you

Yesterday I shared a detailed analysis of one Winter Holiday dashboard but there are a lot of other things it can tell you depending on your data: Are holiday customers spending much more or much less than non-holiday customers? Do they continue to place large orders? Are they taking advantage...

Learning from your last winter holiday season

Looking at the new Winter Holiday dashboard in Repeat Customer Insights there's a lot of potential information you can use to improve your holiday. I'm going to use the data from the demo: (Even if you don't have the app, this process of figuring out the story your metrics are...

Product Reorders

The Product Reorders report analyzes the products your customers reorder to find which ones are the most popular. Unlike best-seller or total units reports, this reports on the number of customers who have ordered a product more than once. The Customers column shows the number of unique customers who have...

Focus on Winter Holiday

The Winter Holiday focus page will help you analyze how customers acquired during last November and December performed when compared to the rest of that year. It use cohorts so only customers acquired during those months are tracked. Customers acquired in November/December are in the holiday bucket, January to October...

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