Definition: Average Order Value (AOV) measures the average revenue generated in a single transaction. To calculate AOV, you need three inputs.
First, what timeframe are you measuring telegram user database your AOV. Second, what is the total amount of revenue generated during your timeframe. Finally, count the total number of orders during the same time.
Average Order Value = Total Revenue / # of Orders
How to Increase Average Order Value (AOV)
Luckily, increases the average order value is a long-standing problem in retail. There are many best-practice strategies and tactics used to routinely increase this conversion metric.
How Fashion Nova Maximizes AOV for Every Shopper
We've covered how Fashion Nova maximizes conversions with browse abandonment before.
Here, I want to tear down an entire customer journey to see how they push the average order value up for each customer.
Fashion Nova uses a multitude of incentives to drive AOV and conversions.
Above we see their homepage. They use various advanced eCommerce personalization tactics to present the right offer to the right customer.
Two message bars are placed, one above and one below the main navigation bar. Both emphasize free shipping on orders over $75.
Free shipping is an optimal incentive for a few reasons. First, it is a primary reason for shopping cart abandonment. Second, it is a direct financial incentive without discounting your product.
Dynamic Onsite Personalization: Create message bar offers just like Fashion Nova with Barilliance's Onsite Personalization. Request a demo here.
2. Creating Site-Wide Campaigns to Increase AOV
Fashion Nova actively creates campaigns to multiply the amount customers spend.