Do you have a lot of traffic to your online store, a high conversion rate, increasing sales, but not seeing what you expected? What's happening? What can you do to fix it? You should probably work on increasing your average order value (AOV).
Generally, once you have a good conversion rate, the next bank database step is to increase your website's AOV from the traffic you already have to get customers to buy more products or choose more expensive items with each transaction.
Don't know how to get started? Below, you'll discover some of the best strategies to increase your average cart value and take your online store to the next level.
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The AOV (Average Order Value) represents the average amount of money a customer spends per purchase in your online store. Average order value is important for understanding your customers' purchasing habits and helps you with your pricing strategy and online marketing efforts.
AOV not only shows how many users are interested in your store and how many of them have made a purchase, but it also provides an accurate measure of a customer's long-term value.
As you can see, AOV is a valuable KPI for your business. But do you know what data you should consider when calculating it? And most importantly, what formula to use? Find out below.