I started reading another book on data analysis for ecommerce but ended up putting it down, which is rare for me. This section caused me to sit up and scratch my head: Simply constructed, AOV [Average Order Value] is the sum total cost of the items purchased, divided by the number of items. The cost? …
Tag: average order value
Average Lifetime Value and Average Order Value analyzed by the first products ordered
The First Product Analysis in Repeat Customer Insights has been expanded to include the Average LTV and Average Order Value for both products and variants. This shows how items in the original order will influence later customer behavior across four factors: Average Order Value – order size Repeat Purchase Rate – likelihood of coming back …
What you can do once you know your Average Orders per Customer
Once you calculate your Shopify store’s average orders per customer, you have the data needed to answer a variety of questions. Should you design a loyalty program around 5 orders or 10 orders? When should bonus gifts be added to an order? Are customers only ordering a second or third time, or are they ordering …
An easy way to start with your store analysis is to look at last week
One report in Repeat Customer Insights is highly recommended for new accounts. That’s the Monday Morning Metrics. This report is emailed out every Monday to account subscribers (plus a web version you can review). It summarizes key metrics for your store over the last week. New order totals Number of customers who ordered Number and …
Monitoring how your Shopify store performs each year
Throughout the year you’ll want to monitor specific store metrics based on what you’re actively working on. For example, if you’re trying to reduce returns then metrics around your return rate and return rate by sales channel would make sense. There are other, more general metrics you’ll want to keep an eye on all the …
What repeat customer metrics to compare at year-end
Going into the end of the year you’ll want to compare a few metrics to last year and the year before to see how things have changed. Total sales Average Over Value – good if it stays consistent or has gone up. Great if that happens while total sales have gone up. Repeat Purchase Rate …
Unstick your stuck AOVs
You can make Average Order Value (AOV) more useful by segmenting it. Instead of having one AOV for your store as a whole, you have an AOV for each major traffic source, for each major customer segment, or even for customer cohorts. That’ll give you more visibility into what’s going on with them and let …
Skewed up Average Order Values
Average Order Value (AOV) is a metric used all over in ecommerce and retail. But it sucks at some things. If your store a range of order sizes like very small and/or very large orders, then it can get off. Stores with wholesale customers buying in their regular store see this a lot as those …
Was that an unusually good period or are things getting better?
This week I released some additional Insights for Repeat Customer Insights. Insights are my fancy name for the automatic analysis and advice that the app gives you based on what its algorithms find in your data. These new Insights will compare your Shopify store’s performance in specific dates to how it performed overall. For example, …
Average Order Value dropping in repeat orders
One problem watch for with your repeat purchases is the average order value (AOV) dropping on repeat purchases. For the most part your AOV should be holding steady or increasing as specific customers buy again and again. If it’s dropping, that’s a sign of a potential problem that you’ll want to look into. This is …