Ecommerce Average Order Value (AOV) and 5 Ways to Increase It
There are certain metrics that define how well your ecommerce store is performing. One of the most important metrics is average order value, or AOV.
In this video, we’ll share the definition of average order value, followed by the industry standards, both overall and for specific product categories. We’ll finish up with some easily applicable tips to help you boost your store’s AOV.
If you’re ready to start making more in from your ecommerce business, watch today's video!
To calculate average order value, simply divide your total revenue by the total number of orders in the same period.
For example, if in one month you had $80,000 in revenue with 2,000 orders, your average order value would be $40 (80,000 divided by 2,000).
AOV is one of the top KPI’s (key performance indicators) for any online store. It’s a sign of how valuable each customer is, which is an important thing to know to understand your marketing ROI.
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