The holiday shopping period has us obsessed with one of our favourite ecommerce metrics: average order value (AOV). How does your site compare? A new infographic breaks down the stats.
Increasing average order value usually has a dramatic impact on profits and ROI from marketing spend. It is also a gift that keeps on giving, as optimisation in this area is something that can deliver ongoing results over the long term.
What does ‘average’ look like?
Well, that’s going to depend on your sector, as well as the level of optimisation maturity reached by your peers. There’s not much point comparing the AOV of a small jewellery site with a large travel website. It doesn’t tell you anything meaningful.
It’s more interesting to deep dive into your niche, and the good news is that we have some sector-specific ecommerce benchmarks to share with you, based on data from the 12,000+ ecommerce websites that have connected to the Littledata app.
Below is a visualisation to show you some of our numbers (there’s much more to explore within the app).
Compare your own performance
To see your own data alongside the industry averages, simply hook up your Google Analytics account with Littledata, and the app will show you how you’re performing relative to your peers (it’s free to connect).
The app will also show you benchmarks for the other key ecommerce metrics, alongside AOV. No doubt you’re also interested in things like conversion rate, checkout completion rate, product list CTR, and so on.
Are you benchmarking your ecommerce site in the best sector to help you increase revenue?
We use the IBM Watson API and some smart logic to categorise websites automatically, though you’re able to manually override that should you need to do so. For example, you can compare against similar sized SEO-driven websites in your location, or look specifically at retailers in your vertical (eg. health and beauty products by subscription).
Underperforming? We’ve got your back…
There’s no need for panic if your numbers don’t look as good as your peers, as the Littledata app will recommend specific optimisation ideas via our new Missions feature.
You can launch missions to improve your ecommerce performance and increase sales.
I’d love to know what you’ve done to increase average order value. Do leave a comment below if you have tips to share.
PS. Feel free to share this infographic, or include it in your own blog posts, as long as you include a link back to this post and our main website (www.littledata.io).