E-Commerce Benchmarks

                     




Hi All,

Here are some of the top E-Commerce benchmarks that are considered for high business performance.

Top customers spend 5x more per order

On average, 90% of e-commerce customers spend $54 per order. The top 10% are spending $163 per order, 3x more per order than 90% of customers. When we zoomed in even further we found that the top 1% of customers have an Average Order Value (AOV) of $267, 5x more than the AOV of most of your customer base.

Top customers make 4x more purchases

The typical online store gets 43% of its revenue from repeat customers. Companies that have mastered repeat purchases are getting up to 75% of their revenue from repeat customers. If you tend to focus on customer acquisition, now is the time to pay attention to how you can grow revenue by looking at your existing customer base.


Don’t be afraid to break the discount cycle

There’s a tendency in e-commerce to solve problems with discounts rather than data. When it comes to driving repeat purchases, your data can help you figure out things like how soon after a purchase you should reach out to a customer or how often you should be emailing your various customer segments. Leverage those insights. Now is the time to get better at repeat business that doesn’t rely on deep discounts.

Top customers spend 30x more than the average customer

Customer Lifetime Value is the single most important metric for your e-commerce store. The top 1% of e-commerce customers spends 30x more than the average customer. The lifetime value of these customers isn’t just a little better, it’s dramatically better.


If you’re still tracking marketing ROI using metrics like cost of customer acquisition or first purchase this data should make it overwhelmingly obvious that it’s time to stop. Your customers are not all the same, and you shouldn’t be treating them as if they are. Spending $15 on a customer whose lifetime value is $35 probably isn’t a great move, spending $15 on a customer whose lifetime value is $1,050 is a no-brainer.

Treat your best customers like VIPs

Every month, pull a list of your top 1% of customers and do something special for them. Write a note, send a gift, invite them to a special event. If you can do this more often or at scale, even better. Try showing some love to your big spenders and just see what happens.




Courtesy: http://blog.bigcommerce.com/the-3-most-important-e-commerce-benchmarks-and-how-you-can-crush-them/




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