GITNUX MARKETDATA REPORT 2023

Must-Know Ecommerce Growth Metrics

Last Updated: October 31, 2023

Written & Summarized by: Jannik Lindner

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Highlights: The Most Important Ecommerce Growth Metrics

1. Monthly Revenue Growth
2. Average Order Value (AOV)
3. Customer Acquisition Cost (CAC)
4. Customer Lifetime Value (CLV)
5. Conversion Rate
6. Cart Abandonment Rate
7. Repeat Customer Rate
8. Discount Rate
9. Gross Margin
10. Refund Rate
11. Website Traffic
12. Bounce Rate
13. Page-views per Visit
14. Organic Search Ranking
15. Social Media Engagement

Ecommerce Growth Metrics: Our Guide

Staying ahead in the rapidly evolving world of ecommerce requires a keen understanding of the right growth metrics. Our latest report offers updated, essential information about the key performance indicators you need to track in your ecommerce business. Read on to gain insights into the must-know metrics that will empower your ecommerce growth.

Monthly Revenue Growth

This metric measures the increase in revenue earned by an ecommerce business on a monthly basis.

Average Order Value

AOV represents the average amount spent by customers for each transaction

Customer Acquisition Cost

CAC is the average amount of money spent to acquire a new customer through marketing and advertising initiatives.

Customer Lifetime Value

CLV is the predicted net profit businesses receive from a customer throughout their relationship

Conversion Rate

This metric represents the percentage of users who completed a desired action, such as making a purchase, signing up for a newsletter, or creating an account.

Cart Abandonment Rate

This metric shows the percentage of users who added products to their shopping cart but didn’t complete the purchase.

Repeat Customer Rate

The repeat customer rate evaluates the percentage of customers who return to make a second purchase or more.

Discount Rate

This metric assesses the impact of discounts and promotions on sales and profit.

Gross Margin

Gross margin represents the percentage of sales revenue that remains after deducting the cost of goods sold.

Refund Rate

The refund rate is the percentage of transactions that result in a customer requesting a refund.

Website Traffic

Monitoring the number of visitors to an ecommerce website allows businesses to gauge the effectiveness of their marketing efforts, website performance, and overall online visibility.

Bounce Rate

This metric indicates the percentage of visitors who leave your website after viewing just one page.

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Page-Views Per Visit This metric measures the average number of pages viewed by visitors during a single session on your ecommerce site

Organic Search Ranking

This metric measures the positioning of an ecommerce website in search engine result pages (SERPs) without paying for ads.

Social Media Engagement

This metric tracks social media engagement’s impact on your ecommerce business, including likes, shares, comments, and more. Strong engagement boosts brand and website.

Frequently Asked Questions

What are some key eCommerce growth metrics that businesses should track?

Some vital eCommerce growth metrics include conversion rate, average order value, customer lifetime value, cart abandonment rate, and customer acquisition cost.

How can conversion rate contribute to measuring eCommerce growth?

Conversion rate is the percentage of visitors who make a purchase, showing the effectiveness of marketing strategies and website user experience. Higher conversion rates indicate better engagement and a stronger likelihood of generating sales and revenue.

Why is tracking average order value (AOV) important for eCommerce growth?

AOV refers to the average amount customers spend per transaction. Monitoring AOV helps businesses identify trends in purchasing behavior and create targeted marketing or promotional strategies to encourage bigger basket sizes and, in turn, increase overall revenue.

What does customer lifetime value (CLV) reveal about eCommerce growth?

CLV indicates the total revenue a business can potentially earn from a customer over the entire relationship. A high CLV signifies strong customer loyalty and successful nurturing strategies, while a low CLV suggests inefficiencies in retaining customers, which may limit eCommerce growth and profitability.

How can reducing cart abandonment rate contribute to eCommerce growth?

Cart abandonment rate refers to the percentage of customers who leave products in their cart without completing the purchase. Reducing this rate helps improve revenue potential by converting more visitors into buyers, thus promoting eCommerce growth. Offering seamless checkout processes, personalized reminders, and limited-time discount incentives can all help decrease cart abandonment rates.

How we write these articles

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly. See our Editorial Guidelines.

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