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Written by Segmentify

02 March 2023

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Average Order Value

Average Order Value (AOV) is the average amount each customer spends on each purchase. This metric is calculated by dividing the total sales revenue within a specific time by the number of puchases made during that time.

A high AOV indicates that customers are buying more or higher-priced products, which leads to higher revenue and more profit. AOV helps businesses understand customer behavior and identify opportunities for increasing revenue. Bundle deals, upselling or cross-selling products can contribute to AOV and profitability.

Written by Segmentify

02 March 2023

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Related Terms

First-Party Data

First-party data is the data or information a company directly collects from its users or customers. It is collected through audience engagement, which can happen on the company website, app, social m...

Data Silos

Data silos refer to isolated management systems that operate independently without the ability to integrate with other systems. In the eCommerce context, these silos can originate from diverse sources...

CSAT

Customer Satisfaction Score (CSAT) is a metric used to measure how satisfied customers are with a product, service or their interaction with a business. CSAT is usually measured through surveys, which...

CRM

CRM is a software platform that assists businesses in managing their interactions and relationships with both potential and current customers. A CRM system may include: CRM aims to improve customer sa...

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