I had an interesting thought.
Average Order Value (AOV) is one measuring stick that Shopify stores use to measure growth. When it's going up, then the store is growing and management is making the right decisions, right?
I wonder how many stores are adjusting AOV changes for inflation though. Are you?
If your AOV goes up 5% in a year but inflation went up 8%, you didn't grow. Your order sizes actually dropped 3%, which could explain for that odd feeling of "where did the money go?"
Inflation hasn't mattered much previously but in recent years, high costs and inflation have moved to the forefront. It seems to me that setting growth goals on metrics like AOV need to be measuring the real rates (inflation adjusted).
Otherwise you might be led to make the wrong decisions about your store growth. Decisions which will come back to bite you in the future.
Repeat Customer Insights will automatically analyze your Shopify customers to find the best ones. With over 150 segments applied automatically, it includes which customers are spending the most and buying the most frequently.
Eric Davis
Analyze your customer's behaviors before they defect
Your customers aren't yours forever. Some might have defected today, never to be seen again.
You need to analyze your customer behavior so you can reach them before they defect.