GITNUX MARKETDATA REPORT 2023

Must-Know Key Ecommerce Metrics

Last Updated: October 31, 2023

Written & Summarized by: Jannik Lindner

How we write

Download Image

Highlights: The Most Important Key Ecommerce Metrics

1. Gross Merchandise Value (GMV)
2. Average Order Value (AOV)
3. Conversion Rate
4. Shopping Cart Abandonment Rate
5. Customer Lifetime Value (CLV)
6. Customer Acquisition Cost (CAC)
7. Customer Retention Rate
8. Bounce Rate
9. Return Rate
10. Net Promoter Score (NPS)
11. Website Traffic
12. Product Performance Metrics
13. Time on Site
14. Page Views per Session
15. Social Media Engagement

Key Ecommerce Metrics: Our Guide

Delving into the world of ecommerce can often seem like navigating a labyrinth, but having a firm grasp on key metrics can light the way. Through our recent, comprehensive study, we’ve identified the most significant ecommerce key performance indicators (KPIs) that every online retailer should be tracking. Understand these game-changer metrics and enhance your business’s profitability and growth trajectory.

Gross Merchandise Value

The total value of products sold through the eCommerce platform over a specific period. It represents eCommerce growth and sales volume

Average Order Value

The average total amount a customer spends per transaction. It helps gauge revenue per customer, pricing strategy, and marketing effectiveness.

Conversion Rate

The percentage of website visitors who complete a purchase. It reflects the effectiveness of a site’s design, user experience, and marketing efforts in driving sales

Shopping Cart Abandonment Rate

The percentage of customers who add items to their cart but do not finish the transaction

Customer Lifetime Value

The estimated total revenue a business will generate from an individual customer throughout their entire relationship

Customer Acquisition Cost

The average cost to acquire a new customer through marketing and advertising efforts

Customer Retention Rate

The percentage of customers who continue to make purchases over a given period

Bounce Rate

The percentage of website visitors who leave immediately after viewing a single page

Return Rate

The percentage of products returned by customers. A high return rate can indicate issues with product quality, descriptions, or customer expectations.

Net Promoter Score

A measure of customer satisfaction and loyalty, calculated by asking customers how likely they are to recommend the company to others

Website Traffic

The total number of visitors to an eCommerce site, broken down by various metrics such as channels, sources, location, and devices

Product Performance Metrics

Examines the success and profitability of individual products by tracking sales, revenue, stock levels, and sell-through rates

Time On Site

The average amount of time users spend on the eCommerce site before leaving

Page Views Per Session

The average number of pages viewed per user session. This metric shows user engagement and the effectiveness of the site’s navigation and content. —&>

Social Media Engagement

Measures the success of eCommerce marketing efforts on social media platforms through interactions such as likes, comments, shares, and followers

Frequently Asked Questions

What are some essential Key Ecommerce Metrics every online retailer should track regularly?

Important Key Ecommerce Metrics include conversion rate, average order value (AOV), cart abandonment rate, customer lifetime value (CLV), and customer acquisition cost (CAC).

How can a business owner improve their ecommerce store's conversion rate?

To improve conversion rates, one should focus on optimizing the website design, enhancing product descriptions, using high-quality images, offering personalized recommendations, simplifying the checkout process, and implementing A/B testing for continuous improvements.

What is the significance of tracking the average order value in an ecommerce business?

AOV helps online retailers understand their customers’ purchasing behavior and identify the strategies needed to upsell or cross-sell products, resulting in increased revenue generation.

How can a business reduce cart abandonment rates in their ecommerce platform?

Reducing cart abandonment rates can be achieved by improving site performance and loading times, offering guest checkout options, streamlining the checkout process, being transparent about shipping costs, providing multiple payment options, and retargeting shoppers through email or ads.

Why is calculating customer lifetime value crucial for ecommerce businesses?

Customer lifetime value (CLV) allows businesses to estimate the total revenue a customer is expected to generate over their lifetime, signaling how profitable the relationship will be. Understanding CLV enables retailers to allocate resources for customer acquisition, retention, and overall improvement of the customer experience.

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.

Free Test

Leadership Personality Test

Discover your leadership style and skyrocket your career in 10 under minutes 🚀