GITNUX MARKETDATA REPORT 2023
Essential Shopify Metrics
Highlights: The Most Important Shopify Metrics
- 1. Gross Merchandise Volume (GMV)
- 2. Total Sales
- 3. Average Order Value (AOV)
- 4. Conversion Rate
- 5. Customer Acquisition Cost (CAC)
- 6. Customer Lifetime Value (CLV)
- 7. Churn Rate
- 8. Return on Advertising Spend (ROAS)
- 9. Cart Abandonment Rate
- 10. Net Promoter Score (NPS)
- 11. Site Traffic
- 12. Bounce Rate
- 13. Time on Site
- 14. Product Views
- 15. Referral Sources
- 16. Repeat Customer Rate
- 17. Revenue by Channel
- 18. Social Media Engagement
Table of Contents
Shopify Metrics: Our Guide
Navigating the world of e-commerce can be challenging, but understanding essential Shopify metrics is key to online retail success. Our recent study dives into the crucial data that every Shopify seller must track to optimize their revenue and grow their customer base. Discover how these key metrics can revolutionize your e-commerce strategy and drive substantial business growth.
Gross Merchandise Volume
Represents the total value of products sold through the Shopify platform over a given period
Sum of all sales generated through the platform, including discounts, shipping fees, and taxes
Average Order Value
Calculates the average value of all orders placed in a given time period, helping to understand customers’ spending behavior
The percentage of visitors who make a purchase, showing the site’s effectiveness in driving sales
Customer Acquisition Cost
The cost of acquiring a new customer, including marketing expenses, promotions, and any other costs related to customer acquisition
Customer Lifetime Value
The predicted revenue generated by a customer during their entire relationship with the store.
The percentage of customers who discontinue their relationship with your store over a given time period
Return On Advertising Spend
Measures the effectiveness of advertising campaigns by calculating the revenue generated per dollar spent on ads
Cart Abandonment Rate
The percentage of customers who add products to their cart but do not complete the purchase, indicating potential issues with the checkout process or customer hesitations
Net Promoter Score
A metric that measures customer satisfaction and loyalty by asking how likely they are to recommend your store to others
The number of visitors to your store in a given time period, reflecting the effectiveness of marketing and organic search efforts
The percentage of visitors who leave your store without browsing beyond the initial landing page, indicating a lack of engagement or issues with the site design
Time On Site
The average time that visitors spend on your store, helping to measure engagement and user experience
The number of times a product page is viewed, revealing the popularity of specific items and the effectiveness of product search/navigation.
The breakdown of traffic sources, such as search engines, social media, or other websites, showing which channels are most effective in driving traffic and sales
Frequently Asked Questions
What are the key metrics to track on Shopify for an online store's success?
How do I find the Conversion Rate of my Shopify store?
What is the Average Order Value (AOV) on Shopify, and why is it important?
Can you explain the significance of the Customer Lifetime Value (CLV) metric in Shopify?
How can I use the Traffic Sources metric in Shopify to optimize my marketing efforts?
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.