I went for a walk yesterday and saw a bunch of tomato plants out in front yards (normal for Portland).
Many plants were bigger than mine, one was twice as big, and a few already had fruit starting.
At first I felt like I was behind but then I realized I don't know much about those plants. Did they start them indoors or from a greenhouse months ago? Is it a variety that grows rapidly? Have they been improving the soil for years?
Comparing my growing conditions (extra gifts from a neighbor planted late into weak soil) to theirs shouldn't make me feel bad or feel behind. As long as mine end up producing the results I want and I keep improving the process over-time, then I should be happy.
Industry metrics should be used the same way in your store.
Measure how you compare to see what you can learn and improve at but don't hold them over yourself. You're not a failure because your AOV isn't high enough or your customers aren't coming back as often as the averages. Keep improving and focusing on the metrics that matter for you.
The last few metrics and insights I've added to Repeat Customer Insights aren't even industry metrics, they are comparing your own store to itself. Those can are more useful as they point out weak areas that you can easily address.
My plan is to add more of these too. I've just finished up some backend re-jiggering this week to make more types possible and easier to add.
Eric Davis
Market to your customer's timing
Figure out how long customers wait in-between purchases and you have a key component for your marketing timing. This is the basis of the Average Latency metric and Order Sequence Report in Repeat Customer Insights.