GITNUX MARKETDATA REPORT 2023

Must-Know Ecommerce Key Metrics

Last Updated: October 31, 2023

Written & Summarized by: Jannik Lindner

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Highlights: The Most Important Ecommerce Key Metrics

1. Conversion Rate (CR)
2. Average Order Value (AOV)
3. Customer Lifetime Value (CLV)
4. Bounce Rate
5. Cart Abandonment Rate
6. Cost per Acquisition (CPA)
7. Customer Retention Rate
8. Churn Rate
9. Gross Margin
10. Revenue per Visitor (RPV)
11. Time on Site
12. Pageviews per Visit
13. Unique Visitors
14. Referral Traffic
15. Return on Investment (ROI)
16. Customer Acquisition Cost (CAC)
17. Revenue Growth Rate
18. Social Media Engagement
19. Email Open Rate
20. Email Click-Through Rate (CTR)

Ecommerce Key Metrics: Our Guide

Keeping a close eye on your Ecommerce key metrics is imperative in today’s rapidly-evolving digital landscape. This updated comprehensive report dives deep into exposing the must-know metrics necessary for assessing the progress, enhancing performance, and strategizing business growth in the ecommerce sector. Read on to empower yourself with cutting-edge insights to stay afloat and excel in this competitive ecommerce realm.

Conversion Rate

The percentage of visitors to your online store who make a purchase. It is calculated by dividing the number of sales by the number of visitors.

Average Order Value

The average amount spent on each order placed on your online store, calculated by dividing total revenue by the number of orders.

Customer Lifetime Value

The total revenue a customer is estimated to generate during their entire relationship with your business.

Bounce Rate

The percentage of single-page visits on your online store, where a visitor leaves without browsing further.

GoogleCart Abandonment Rate Chat

The percentage of customers who add items to their shopping cart but do not complete the purchase.

Cost Per Acquisition

The total advertising and marketing cost divided by the number of new customers acquired in a given period.

Customer Retention Rate

The percentage of repeat customers who make additional purchases over a given period, demonstrating customer loyalty.

Churn Rate

The measure of customer attrition, calculated by dividing lost customers by the initial total.

Gross Margin

The difference between the revenues generated from sales and the cost of goods sold (COGS), expressed as a percentage.

Revenue Per Visitor

The average revenue generated by each site visitor, calculated by dividing total revenue by the number of site visitors.

Time On Site

The average duration of time a user spends browsing and interacting with your online store.

Pageviews Per Visit

The average number of pages a visitor views during a single session on your online store.

Unique Visitors

The number of individual users who visit your online store in a given period, excluding repeat visits.

Referral Traffic

The percentage of users who discover your online store through other websites, social media, or search engines.

Return On Investment

A measure of the profitability of your e-commerce store which is calculated by dividing the net profit by the total investments made in your business.

Frequently Asked Questions

What are eCommerce key metrics, and why are they important?

eCommerce key metrics are essential data points that help online businesses monitor their performance, make informed decisions, and grow their revenue. By tracking these metrics, businesses can identify trends, assess the effectiveness of various strategies, and make necessary adjustments to improve customer experience and boost sales.

What are some critical eCommerce key metrics to track?

Some key eCommerce metrics to track include conversion rate, average order value, cart abandonment rate, customer lifetime value, and website traffic. These metrics provide insights into various aspects of the business, such as sales performance, customer behavior, and overall website effectiveness.

How can businesses improve their eCommerce conversion rate?

To improve the eCommerce conversion rate, businesses can optimize their website, enhance product descriptions and images, offer competitive pricing, streamline the checkout process, and focus on targeted marketing efforts. Continuously analyzing customer feedback and user behavior data can also provide insights on where improvements can be made.

What are some ways to reduce cart abandonment in eCommerce?

To reduce cart abandonment, businesses can provide a smooth and easy checkout process, offer guest checkout options, be transparent with shipping costs and delivery times, provide multiple payment options, and emphasize their website’s security. Additionally, implementing cart abandonment email campaigns can remind customers of their unfinished purchases and encourage them to complete their transactions.

How can businesses increase their average order value (AOV)?

Businesses can increase their AOV by offering upsells and cross-sells relevant to the customer’s purchase, creating attractive bundles or packages, offering discounts on minimum purchase amounts, providing free shipping thresholds, and implementing a customer loyalty program that rewards customers for their spendings.

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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