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E-Commerce Metrics in 2023 and Beyond

Marketers strive to know exactly what is happening across all their key retailers and competitors. They are on top of their eCommerce data and try their best to keep it automated and delivered daily from hundreds of retailers at the category level – not just the product SKUs. It is beyond automating the benchmarking & monitoring of the key Digital Shelf Metrics.

Actionable, automated daily insights let you spot opportunities to improve eCommerce performance across every retailer. Stop the costly manual checking of data.

  • Maximize Search and shelf Visibility on the Digital Shelf.
  • Monitor Content Compliance with Daily Insights.
  • Benchmark Shopper Ratings & Reviews.
  • Optimize Assortment, Stock Availability, and promotional Spend.

When defining Key Performance Indicators (KPIs) and measuring Return on Investment (ROI) in e-commerce, some of the most commonly utilized metrics are:

  1. Sales Conversion Rate: It measures the percentage of website visitors who make a purchase. This metric helps evaluate the effectiveness of the website in converting visitors into customers.
  2. Average Order Value (AOV): It calculates the average value of each order placed by customers. A higher AOV indicates customers are spending more per purchase, thus increasing revenue.
  3. Customer Acquisition Cost (CAC): It determines the cost incurred to acquire each new customer. This metric helps assess the efficiency of e-commerce marketing campaigns and customer acquisition strategies.
  4. Customer Lifetime Value (CLTV): It predicts the total revenue a customer is expected to generate throughout their relationship with the e-commerce business. Higher CLTV suggests the ability to retain valuable customers.
  5. Cart Abandonment Rate: It measures the percentage of users who add products to their cart but do not complete the purchase. A lower cart abandonment rate indicates improved conversion rates and helps identify potential issues in the purchasing process.
  6. Website Traffic: It measures the number of visitors to the website. Monitoring website traffic helps assess the success of marketing efforts, SEO strategies, and overall brand visibility.
  7. Return on Advertising Spend (ROAS): This metric calculates the revenue generated from advertising e-commerce campaigns compared to the cost of running those campaigns. It helps evaluate the effectiveness of different advertising channels.
  8. Customer Satisfaction and Net Promoter Score (NPS): Measuring customer satisfaction and NPS through surveys or feedback helps assess the overall customer experience, loyalty, and brand advocacy.
  9. Email Open and Click Rates: These metrics help measure the effectiveness of email marketing campaigns in engaging customers and driving traffic to the website.
  10. Repeat Customer Rate: It calculates the percentage of customers who make a repeat purchase. A higher repeat customer rate indicates customer loyalty and satisfaction.

By tracking and analyzing these metrics, e-commerce businesses can evaluate the success of their marketing, sales, and customer retention strategies, leading to better decision-making and improved ROI.

Would like to find out more about the marketing metrics, check this blog out on our domain. Subscribe today and find out more about marketing formulas, KPIs, OPIs, and more. 

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