eCommerce Benchmarks - How does your New Customer AOV compare to your competitors?
Have you ever wondered how your online store's first-time buyers compare to the industry's best? Well, New Customer Average Order Value (AOV) is the key metric that reveals just that! In fact, it provides a snapshot of what new customers spend on their first purchase and, consequently, a powerful indicator of your store's pricing, appeal, and overall customer experience.
New Customer AOV
As shown, 50% of Electronics brands have an average New Customer AOV of $53.76. However, in contrast, the top 25% of Electronics brands have an average New Customer AOV of $83.48. What is your store's Average Order Value?
Where Does Your Store Stand?
Understanding your New Customer AOV is critical for growth because it can help you answer:
- Are your prices aligned with what customers are willing to pay?
- Are you offering the right products that customers value?
- Do your promotions attract the right buyers?
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