Customer Purchase Latency is a measurement of the delay between customer purchase events (orders). It's in the form of a time, usually a number of days. So a 30 day Customer Purchase Latency means 30 days pass between orders.
This is usually aggregated across all of your customers into Average Customer Purchase Latency.
Eric Davis
Find patterns in customer behavior
You don't have to be in the dark when it comes to your customers. Using their existing behavior, Repeat Customer Insights shows you patterns and optimization potential for Shopify stores, leading to more and better repeat customers.