Average Order Value Report

AOV takes you one step closer to a smarter, data-driven decision

Why is AOV so important for your store?

When AOV is measured, you get to understand how much our customers spend in your store, and this is capital if you want to optimize your pricing plan. It is very useful to find patterns in your customer’s behaviour, thus allowing you to anticipate what your buyers will do in the future and so, prepare for making the most of it.

You might notice that a particular segment of your customers spend more than others. If you are aware of this, you will be able to adapt your marketing efforts to make the most of this pattern emphasising this segment when setting up your offering plan. For instance, returning customers usually spend more than one-time customers so you might like to engage in a series of customer win-back actions. 

It is not only related to which customers buy, but also to when your audience spends more or less on your products. For example, some costumers spend more in December than they do in May. You might also find that the AOV in a certain country is higher or lower than in others, so you can act accordingly to capitalize on it.

In other words, when you measure your AOV you open yourself to better data-driven decisions about offers, promotions and pricing in general.

How do you calculate AOV?

Shopify offers a standard report that you can find accessing Analytics > Reports > Average Order Value Over Time:

You just need to pick a range of time and how to group the data (daily, weekly, monthly…) and you are good to go. It’s simple, but it’s useful if you are the owner of a small business or don’t have the budget to get a better tool.

AOV Report Shopify

Alternatively, if you need a deeper dive into understanding the value of a specific costumer segment, try By the Numbers  and access the Average Order Value Report.

BTN brings an extensive list of preset customer segments (Dormant, At Risk, Promising, Best Costumers…) plus the opportunity to create your own. 

Does that mean that you get to see the AOV of your best clients? Yes, it does. 

Does that mean that you get to see the AOV of those clients that you are at risk of losing? Yes it does. 

BTN will provide you with all the intel you need to develop the best strategy.

Screenshot Average Order Value Report By The Numbers

What is Average Order Value (AOV)?

Average Order Value (AOV) tracks the average amount a customer spends. This is calculated by dividing the total revenue of your store by the number of orders. This metric is very powerful as it can be used to optimize ad spend, product pricing and store layout. It doesn’t give you any insights on benefits, but it gives you an idea of where those benefits come from.

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