Comparing Your Average Order Value Against Other Shopify Stores

comparing-your-average-order-value-against-other-shopify-stores

A big part of Repeat Customer Insights is the metric comparisons and advice.

One thing to be careful with is comparing or benchmarking your Average Order Values (AOV) to other stores or industry as a whole figures.

If your store sells higher priced products, your AOV will be higher naturally. Then the comparison will give you a false sense of security and you might not strive to improve your AOV as much as you should.

On the flip-side, if you sell lower priced products, your AOV will be lower naturally. Than the comparison will give you unnecessary worry as you feel like you can never reach the comparison.

The best option is to compare your AOV to your own store but at different times or for different segments (e.g. customer segments, product segments). E.g. is AOV getting higher every year? Does this product out-perform all of the other products?

Having a rough idea of everyone else is useful for benchmarking, but you should put more emphasis onto the comparisons against your own store.

That’s why Repeat Customer Insights has both an industry AOV comparison and a few more that check how your store performed in different circumstances.

Eric Davis

Use cohorts to find out who the best customers are in your Shopify store

Repeat Customer Insights will automatically group your customers into cohorts based on when they first purchased. This will let you see how the date customers bought would impact their behavior.

Install Repeat Customer Insights for Shopify

This originally appeared on the LittleStream Software Blog and is made available here to cast a wider net of discovery.
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Steve has entrepreneurship in his DNA. Starting in the early 2000s, Steve achieved eBay Power Seller status which propelled him to become a founding partner of VisionPros.com, a contact lens and eyewear retailer. Four years later through a successful exit from that startup, he embarked on his next journey into digital strategy for direct-to-consumer brands.

Currently, Steve is a Senior Merchant Success Manager at Shopify, where he helps brands to identify, navigate and accelerate growth online and in-store.

To maintain his competitive edge, Steve also hosts the top-rated twice-weekly podcast eCommerce Fastlane. He interviews Shopify Partners and subject matter experts who share the latest marketing strategy, tactics, platforms, and must-have apps, that assist Shopify-powered brands to improve efficiencies, profitably grow revenue and to build lifetime customer loyalty.

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