What metrics should I track for ecommerce?

What metrics should I track for ecommerce?

These metrics focus on: operating and improving an ecommerce store, online sales and payment, and increasing revenue.

• Conversion rate.
• Gross margin.
• Average order value.
• Cost per acquisition.
• Cart abandonment rate.
• Checkout abandonment rate.
• Customer lifetime value.
• Revenue on advertising spent.

What are the 5 key performance indicators in retail?

Retail KPIs, goals, and measures of success

• Sales per square foot.
• Gross margins return on investment.
• Average transaction value.
• Customer retention.
• Conversion rate.
• Foot traffic and digital traffic.
• Inventory turnover.

What are the top 3 numbers that you will monitor for a e commerce platform?

10 Essential Ecommerce Numbers

• Sales and returns. Track sales and returns (a) by major product line or category and (b) by marketing source.
• Number of orders.
• Average order value.
• Cost of sales.
• Gross profit margin.
• Visits by marketing source.
• Conversion rate.
• Marketing costs.

What are metrics in retail?

A retail Key Performance Indicator (KPI) or metric is a clearly defined and quantifiable measure that can be used to assess the performance of a retail business. These performance metrics can be used in a variety of ways.

What are merchandising metrics?

The key metrics controlled by the merchandising team fall into four areas: sales, performance, margin and inventory. These metrics should be measured at both the category and total event level. Gross demand: This is what the customer wanted, whether you could supply it or not.

What is KPI in ecommerce?

Key performance indicators (KPIs) are like milestones on the road to online retail success. Monitoring them will help ecommerce entrepreneurs identify progress toward sales, marketing, and customer service goals. KPIs should be chosen and monitored depending on your unique business goals.

Why is it important to monitor your ecommerce metrics?

The ability to collect and assess ecommerce metrics is an essential part of managing a successful online store. Changes in key metrics can alert you to situations you need to take action on immediately.

Do you track Vanity metrics in eCommerce?

But oftentimes you can easily wind up tracking “ vanity metrics ” that have little to no impact on your overall business performance — for example: pageviews, unqualified leads in the sales funnel, or social media “likes”. The ability to collect and assess ecommerce metrics is an essential part of managing a successful online store.

What are the key email metrics you should track?

Here are a few key email metrics you should be tracking: Email Open Rate: Email marketing can be a major factor in your ecommerce success. Before your emails can persuade a prospect to take action, though, they must be opened.

What metrics should digital brands track?

For example, a common metric for digital brands to track would be traffic generated from paid search, but a KPI would focus on the number of qualified leads generated from paid search.